Blue River Bancshares Inc (Blue River), is a holding company that operates through its principal banking subsidiaries, Shelby County Bank and Paramount Bank (the Banks). Shelby County Bank is a federally chartered savings bank located in Shelbyville, Indiana, and Paramount is a federally chartered savings bank located in Lexington, Kentucky. The Bank’s lending activity consists of short and long-term real estate, consumer, commercial and other loans to individuals and businesses. The Banks also offer a range of deposit accounts to customers. The Banks' primary service areas are Shelby County, Indiana and the city of Lexington and Fayette County, Kentucky. Shelby County Bank has two wholly owned subsidiaries: First Tier One Corporation and the Shelby Group, Inc. Blue River announced that its wholly owned subsidiary, SCB Bank, completed the sale of its Paramount Bank division in Lexington, Kentucky, to PBI Bank, Inc, effective February 1, 2008.