First Capital Bancorp Inc. and The First National Holding Company of Jackson Agree to Acquisition Transaction

JACKSON, Ky., May 29, 2018 (Newswire.com) - First Capital Bancorp Inc. and The First National Holding Company of Jackson today announced they have entered into an agreement for First Capital Bancorp to acquire all of the outstanding shares of The First National Holding Company for cash. The transaction is subject to shareholder approval and regulatory approval and is expected to close during the third quarter of 2018. 

The First National Holding Company is the holding company of The First National Bank of Jackson, a community bank headquartered in Jackson, Kentucky.

We are excited about the opportunity to team up with The First National Bank of Jackson as its new holding company. The Bank has served the Jackson community for over a century, and we look forward to working with PJ Sheffel to continue and build upon the Bank's tradition of excellent customer service.

Brian Karst, President and CEO, First Capital Bancorp

First Capital Bancorp was recently organized by Brian Karst and John Lenihan to engage in this transaction. Commenting on the transaction, Karst, president and CEO of First Capital Bancorp, said, “We are excited about the opportunity to team up with The First National Bank of Jackson as its new holding company. The Bank has served the Jackson community for over a century, and we look forward to working with PJ Sheffel to continue and build upon the Bank’s tradition of excellent customer service.” Lenihan, future chairman of the board of First Capital Bancorp, noted, “We look forward to joining  the Jackson community.”

Philip J. Sheffel II, president of First National, commented, “We are pleased to be partnering with First Capital Bancorp. While our structure might change, our people and our priorities in serving customers will not. This is a win-win transaction for our shareholders and our community.”

Wyatt, Tarrant & Combs LLP, Louisville, Kentucky, is serving as legal counsel to First Capital Bancorp in the transaction. Frost Brown Todd PLLC, Louisville, Kentucky, is serving as legal counsel to The First National Holding Company, and ProBank Austin is First National’s financial advisor. 

Contact:          

Brian Karst​
President and CEO
​First Capital Bancorp Inc.
​Phone No.: (502) 558-5908

Philip J. Sheffel II
​President​
The First National Bank of Jackson
(606) 666-8801

Source: First Capital Bancorp Inc.