First Capital in Corydon, Ind., has agreed to buy First Bancorp of Indiana in Evansville.
The $1.3 million-asset First Capital said in a press release that it will pay $33.2 million in stock for the $583 million-asset First Bancorp. The deal is expected to close in the first half of 2027.
“We are extremely excited to partner with First Bancorp and further expand our presence across Southern Indiana and Western Kentucky,” Chris Frederick, First Capital’s president and CEO, said in the release. “The expansion of our branch network across these markets will allow us to attract additional talent, build meaningful customer relationships and grow our franchise through a partnership with an organization that shares our approach to community banking.”
Raymond James & Associates and Krieg DeVault advised First Capital. Keefe, Bruyette & Woods and Kilpatrick Townsend & Stockton advised First Bancorp.