September 13, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Premier Financial Bancorp, Inc. (NASDAQ: PFBI), a West Virginia-based bank holding company with eight bank subsidiaries, said that Citizens Deposit Bank and Trust, a wholly-owned subsidiary of Premier, has completed the purchase of four branches of Integra Bank National Association located in Maysville and Mt. Olivet, Kentucky and Ripley and Aberdeen, Ohio.

Under the deal, Citizens will assume around $73.4 million of deposit liabilities related to the four branches and acquire $17.8 million of branch related loans, as well as $34.0 million of additional commercial real estate and $10.0 million of other commercial loans selected by Citizens originated from other Integra offices.  

The Kentucky branches include around $45.3 million of deposits, while the Ohio branches include around $28.1 million of deposits.

Citizens said it paid a 3.38% deposit premium for the deposit liabilities it assumed and acquired the commercial and commercial real estate loans included in the branch sale transaction at par value.  

The four banking offices were also acquired at their book values, according to Premier.  

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