Louisville Real Estate News

Officials with Community Bank Shares of Indiana Inc. hope to further increase their banking business in the Louisville market with a new East End branch and a new name.

Community Bank Shares, which is based in New Albany, recently changed the name of its banking subsidiary to Your Community Bank from Community Bank, and the company plans to open a branch in the Eastpoint Business Park in January, according to Christopher Bottorff, president of the company’s Kentucky market.

The Eastpoint branch will be the bank’s fourth location in Jefferson County and sixth in Kentucky.

The 3,000-square-foot branch will be located in space that is being leased from Hollenbach-Oakley LLC, a Louisville commercial real estate and construction-management firm. The 5,500-square-foot building, located at the intersection of Nelson Miller Parkway and Magisterial Drive, will be shared with an office of Kentucky Orthopedic Rehab Team PSC.

“We feel like we were looking for a location that would provide our customer base with easy access and a pretty recognizable location,” said Bottorff of the new location, which is just off Old Henry Road.

Your Community Bank currently operates branches in St. Matthews, Middletown and Fern Creek. Its other two Kentucky branches are in Bardstown. The company has 11 branches in Southern Indiana.

According to the Federal Deposit Insurance Corp., Community Bank Shares had deposits of $439.5 million as of June 30, the last time statistics were available from the federal agency. That equates to a 2.28 percent share of deposits in the Louisville market, up from 2.05 percent a year earlier.

For the third quarter, ended Sept. 30, Community Bank Shares reported that net income rose to $1.2 million, or 45 cents per share, diluted, from $657,000, or 25 cents per share, diluted, a year earlier.

Total assets grew by 14.3 percent during the third quarter, to $647.6 million from $566.6 million a year earlier.

“The bank is definitely wanting to expand in the Louisville market,” Bottorff said. “We will continue to look for strategic sites to better serve our customer base and also to expand our customer base.”