Paramount has approximately $75 million in assets and $75 million in deposits, of which approximately $15 million are core demand deposits.
Maria Bouvette, president and CEO of Porter Bancorp, said: The acquisition of Paramount Bank provides us with a prime location in the Lexington market. The Paramount branch will be rebranded as PBI Bank and will become our main office for this attractive growth market. We believe the addition of the new office and customer base will leverage the loan production office we opened in Lexington in June 2007.
