First Financial Service Corporation Announces Termination of Agreement to Sell Louisville Branches

First Financial Service Corporation Announces Termination of Agreement to Sell
                             Louisville Branches

PR Newswire

ELIZABETHTOWN, Ky., Nov. 15, 2012

ELIZABETHTOWN, Ky., Nov. 15, 2012 /PRNewswire/ --First Financial Service
Corporation (NASDAQ: FFKY), parent of First Federal Savings Bank of
Elizabethtown ("First Federal"), announced today that First Security Bank of
Owensboro, Inc. ("First Security") has terminated the Branch Purchase
Agreement (the "Agreement") with First Federal. The Agreement provided for
the sale of First Federal's four retail banking offices in Louisville,
Kentucky to First Security.

First Security exercised its right to terminate the Agreement because it
became reasonably apparent that the Agreement's financing condition would not
be satisfied by November 14, 2012. The financing condition provided that
First Security's parent bank holding company had to raise and contribute to
First Security the capital necessary to satisfy any capital injection
requirement needed for governmental approval of the sale.

"Our ongoing efforts to evaluate all available strategic options to meet
required regulatory capital levels will continue despite the termination of
the agreement to sell our Louisville branches," stated Gregory S. Schreacke,
President of First Financial Service Corporation. "We will continue to
provide full customer service to all of our Louisville customers."

First Financial Service Corporation is the parent bank holding company of
First Federal Savings Bank of Elizabethtown, which was chartered in 1923. The
Bank serves the needs and caters to the economic strengths of the local
communities in which it operates and strives to provide a high level of
personal and professional customer service. The Bank offers a variety of
financial services to its retail and commercial banking customers. These
services include personal and corporate banking services, and personal
investment financial counseling services. Currently, the Bank serves six
contiguous counties in central Kentucky through its 17 full-service banking

This press release contains forward-looking statements, including statements
about beliefs and expectations based on the information available to, and
assumptions and estimates made by, management as of the date made. These
forward-looking statements cover, among other things, anticipated future
revenue, expenses, capital ratios, and the future plans and prospects of First
Federal Savings Bank. For a discussion of the risks and uncertainties that
may cause actual results to differ from these expectations and our other
forward-looking statements, refer to First Financial Service Corporation's
2011 Annual Report on Form 10-K, including the "Risk Factors" section, and
other periodic reports filed with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date they are made, and First
Financial Service Corporation undertakes no obligation to update them in light
of new information or future events.

First Financial Service Corporation's stock is traded on the Nasdaq Global
Market under the symbol "FFKY." Market makers for the stock are:

Keefe, Bruyette & Woods, Inc.             FTN Midwest Securities
J.J.B. Hilliard, W.L. Lyons Company, Inc. Howe Barnes Investments, Inc.
Stifel Nicolaus & Company                 Knight Securities, LP

SOURCE First Financial Service Corporation

Contact: Gregory S. Schreacke, President, First Financial Service Corporation,
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