HopFed Bancorp's Heritage Bank USA Terminates Merger with Sumner Bank & Trust
HopFed Bancorp, Inc. (NASDAQ: HFBC) (the “Company”), the holding company
for Heritage Bank USA, Inc. (“Heritage”), today reported that Heritage
and Sumner Bank & Trust of Gallatin, Tennessee (“Sumner”) have entered
into a Mutual Termination Agreement to terminate their merger agreement,
which was previously disclosed in the Company's Current Report on Form
8-K filed on February 14, 2013. The mutual decision to terminate was due
to Sumner's failure to meet a certain performance requirement under the
merger agreement. Each party will bear its own costs and expenses in
connection with the terminated transaction, without penalties.
HopFed Bancorp and Heritage Bank USA, Inc.
Prior to June 5, 2013, HopFed Bancorp, Inc. was a federally chartered