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Kentucky-based Central Bancshares Inc. consolidates 2 units

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Kentucky-based Central Bancshares Inc. consolidates 2 units

Lexington, Ky.-based Central Bank of Jefferson County merged with and into Central Bank & Trust Co., effective June 1, a Central Bank & Trust executive confirmed June 14.

The executive said the banks' operations will be combined later in 2017. No changes to management or board are expected.

As of March 31, Central Bank of Jefferson County had $177.5 million in assets, while Central Bank & Trust Co. had $2.14 billion in assets. The companies' parent, Central Bancshares Inc., had $2.30 billion in assets as of March 31.