2
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
November 29,1996
PIKEVILLE NATIONAL CORPORATION
(Exact name of registrant as specified in its charter)
Kentucky 0-11129 61-0979818
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
208 North Mayo Trail
Pikeville, Kentucky 41501
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (606) 432-1414
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Sale of Affiliate Banking Institution
A definitive agreement was signed on November 29, 1996
to sell Pikeville National Corporation's wholly owned
subsidiary Commercial Bank, West Liberty, KY to Commercial
Bancshares, Inc., West Liberty, KY.
See Exhibit 5.
<PAGE>
Signatures
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned thereunto duly
authorized.
Pikeville National Corporation
December 5, 1996 By: Richard M. Levy
Richard M. Levy
Executive Vice President
Chief Financial Officer
<PAGE>
INDEX TO EXHIBITS
Exhibit Sequentially Numbered Page
5 Pikeville National Corporation 5
Press Release dated November 29, 1996
<PAGE>
Exhibit 5
FOR IMMEDIATE RELEASE
November 29, 1996
FOR ADDITIONAL INFORMATION PLEASE CONTACT RICHARD M. LEVY,
EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER,
PIKEVILLE NATIONAL CORPORATION AT (606) 437-3282
Burlin Coleman, President and CEO of Pikeville National
Corporation, today announced the signing of a definitive
agreement to sell its 100% interest in Commercial Bank, West
Liberty, Kentucky to Commercial Bancshares, Inc., West
Liberty, Kentucky for $10.2 million in cash.
Pikeville National Corporation is a ten bank holding company
with $1.8 billion in assets. Commercial Bank had assets of
$73 million, or 4% of the total for Pikeville National
Corporation as of September 30,1996. In line with the
company's strategic plan, this sale gives Pikeville National
Corporation the opportunity to invest the proceeds in
additional acquisitions which will provide growth in new and
existing markets. The sale is subject to regulatory
approvals.
