Citizens First Corporation Advises Stockholders to Take No Action in Response
to Porter Bancorp's Offer
BOWLING GREEN, Ky., Oct. 23
BOWLING GREEN, Ky., Oct. 23 /PRNewswire-FirstCall/ -- Citizens First
Corporation (Nasdaq: CZFC) today recommended that Citizens First's
stockholders take no action at this time in response to the announcement by
Porter Bancorp, Inc. (Nasdaq: PBIB) that it has made an unsolicited
conditional tender offer to acquire Citizens First's outstanding shares of
Consistent with its fiduciary duties and in consultation with its independent
financial and legal advisors, Citizens First's board will review and consider
the offer, and within 10 business days, will advise Citizens First's
stockholders of the board's position regarding the offer as well as its
reasons for that position.
Chartwell Capital Ltd. is acting as financial advisor to Citizens First and
Wyatt, Tarrant & Combs, LLP is acting as legal advisor.
About Citizens First Corporation
Citizens First Corporation is a bank holding company headquartered in Bowling
Green, Kentucky and established in 1999. The Company has branch offices
located in Barren, Hart, Simpson and Warren Counties in Kentucky.
Note to Security Holders
Investors are urged to read Citizens First Corporation's
Solicitation/Recommendation Statement on Schedule 14D-9 when it becomes
available as it will contain important information. Security holders may
obtain a free copy of the Solicitation/Recommendation Statement (when it
becomes available), as well as any other public filings made from time to time
by Citizens First with the U.S. Securities and Exchange Commission in
connection with the tender offer by Porter Bancorp Inc., free of charge at the
SEC's website at www.sec.gov.
This press release contains forward-looking statements of Citizens First that
are not historical facts. These forward-looking statements may be identified
by words such as "anticipate," "expect," "suggest," "plan," "believe,"
"intend," "estimate," "target," "project," "could," "should," "may," "will,"
"would," "continue," "forecast," and other similar expressions. Each of these
forward-looking statements involves risks and uncertainties. Actual results
may differ materially from those, express or implied, in these forward-looking
statements. Various factors may cause differences between current expectations
and actual results, including risks and uncertainties associated with Porter
Bancorp's tender offer. Other factors that may cause Citizens First's actual
results to differ materially from those expressed or implied in the
forward-looking statements in this press release are discussed in Citizens
First's filings with the Securities and Exchange Commission (SEC). Copies of
Citizens First's filings with the SEC may be obtained at the SEC's website at
www.sec.gov. Citizens First expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in Citizens First's expectations with
regard thereto or any change in events, conditions or circumstances on which
any such statements are based for any reason, except as required by law, even
as new information becomes available or other events occur in the future. All
forward-looking statements in this press release are qualified in their
entirety by this cautionary statement.
SOURCE Citizens First Corporation
Contact: Todd Kanipe, Chief Executive Officer, +1-270-393-0700
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