Citizens National Corporation (OTCPK:CZNL) entered into an agreement to acquire Peoples Security Bancorp, Inc. (Louisa, KY) in cash and note on August 20, 2014. Under the terms, Citizens National will pay $663.15 for each share of Peoples Security. The purchase price is subject to adjustment. The transaction is subject to shareholder and regulatory approval and is expected to close before the end of the first quarter of 2015.

Frost Brown Todd LLC acted as legal advisor to Citizens National. VanAntwerp, Monge, Jones, Edwards & McCann, LLP acted as legal advisor to Peoples Security. Austin Associates LLC acted as financial advisor to Peoples Security Bancorp, Inc.