MainSource acquires local AFB branch

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Bank also acquires branches in Franklin County


UPDATED 9:25 A.M. THURSDAY — MainSource Bank has acquired the Lawrenceburg and Franklin County branches of American Founders Bank, MainSource announced this morning in a news release.

The acquisition marks the second Lawrenceburg bank MainSource has purchased in the past several months. In November, the Indiana-based bank purchased the former 1st Independence Bank branch, located on U.S. 127 Bypass.

American Founders has one branch in Lawrenceburg, located in front of Wal-Mart on the Bypass. The deal also includes two branches in Franklin County.

In total, the purchase includes approximately $70 million in loans and $100 million in deposits, the news release states.

MainSource currently maintains a presence in Mercer and Anderson counties in Kentucky.

In exchange, MainSource Bank will sell its branch located in Jefferson County, including certain associated loans and deposits, to American Founders Bank, the news release states.

Today's announcement marks just one of a rash of local bank acquisitions over the past six months. Along with MainSource's purchase of 1st Independence, Town and Country Bank late last year purchased both Lawrenceburg branches of Integra Bank.

American Founders also has branches in Shelby, Jefferson and Fayette counties.

MainSource has branches in Indiana, Kentucky, Ohio and Illinois.