Community Bank Shares (CBIN) in New Albany, Ind., has lowered its cost estimates for integrating First Federal Bank in Lexington, Ky.
The $838 million-asset company said in a regulatory filing Friday that it expects to spend up to $350,000 to integrate First Federal, with up to $250,000 of those expenses expected in the third quarter. The company had originally forecast in April that it could spend $800,000 to $1.3 million on the integration.
The company also said in the recent filing that it has already converted the accounts from First Federal to its own systems.
