Failed Bank Information for Louisa Community Bank, Louisa, KY

About Kentucky Farmers Bank Corporation

All deposit accounts, including brokered deposits, have been transferred to Kentucky Farmers Bank Corporation, Catlettsburg, KY ("assuming institution") and will be available immediately. The former Louisa Community Bank locations will reopen as a branch of Kentucky Farmers Bank Corporation during regular business hours.

Your transferred deposits will be separately insured from any accounts you may already have at Kentucky Farmers Bank Corporation for at least six months after the failure of Louisa Community Bank. Checks that were drawn on Louisa Community Bank that did not clear before the institution closed will be honored as long as there are sufficient funds in the account.

All interest accrued through Friday, October 25, 2019 will be paid at your same rate. Kentucky Farmers Bank Corporation will be reviewing rates. You will be notified of any changes. You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Kentucky Farmers Bank Corporation as long as the deposits are not pledged as collateral for loans.

Contacting Kentucky Farmers Bank Corporation

You can contact Kentucky Farmers Bank Corporation:

Kentucky Farmers Bank Corporation
2500 Broadway
Catlettsburg, KY 41129

Kentucky Farmers Bank Corporation (www.kfb.bank)

Transaction Documentation

Purchase & Assumption Agreement - PDF
Agreement between FDIC and the acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

Brokered Accounts

As an All Deposits transaction, the total of all deposit accounts, including brokered deposits, has been assumed by Kentucky Farmers Bank Corporation.

Deposit Broker's Processing Guide

Automatic Payments/Bill Pay/Online Banking

These services will continue as usual. Your routing number and account number will remain the same until you are notified in writing by Kentucky Farmers Bank Corporation.

ATM and Debit Cards

Your ATM/Debit card will continue to work as usual.

Checks

Your checks will be processed as usual. All outstanding checks will be paid against your available balance(s). Kentucky Farmers Bank Corporation will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, please contact your branch office.

Direct Deposit

All direct deposits, for example, social security checks, payroll, veterans' benefits, disability, unemployment or any payment you receive electronically will continue as usual.

Overdraft Lines of Credit

These lines have been transferred to Kentucky Farmers Bank Corporation. Please contact Kentucky Farmers Bank Corporation if you have additional questions regarding your accounts.

Safe Deposit Boxes

You may continue to access your safe deposit box during normal business hours. Any changes will be communicated by Kentucky Farmers Bank Corporation.

Creditors

If you or your company provided a service or product, leased space, furniture, or equipment to Louisa Community Bank prior to October 25, 2019 and have not been paid, you may have a claim against Louisa Community Bank.

All creditors having claims against Louisa Community Bank must submit their claims to the Receiver online or by mail:

Email:	NonDepClaimsDal@FDIC.gov
Mail:	FDIC as Receiver for Louisa Community Bank Attention: Claims Agent 1601 Bryan Street Dallas, TX 75201

Please note: There are time limits for filing a claim. Your claim must be filed on or before (the "Claims Bar Date").

Under federal law, failure to file a claim on or before the Claims Bar Date will result in disallowance of the claim by the Receiver. The disallowance will be final. 12 U.S.C. Section 1821(d)(5)(C).

NOTE TO CLASS CLAIMANTS: By law, the Receiver will not accept a claim filed on behalf of a proposed class of individuals or entities or a class of individuals or entities certified by a court. EACH individual or entity must file a separate claim with the Receiver.

Priority of Claims

In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:

1. Depositors
2. General Unsecured Creditors
3. Subordinated Debt
4. Stockholders

Stockholders

Shareholders have a claim against the receivership; however, they have the lowest priority of claim. You should contact an accountant and/or the IRS to discuss the exact requirements necessary to recognize the investment as a loss for tax purposes. The FDIC does not require stockholders to file a claim with the Receiver. However, we recommend that you keep our office informed of any address change, should we need to contact you in the future.