CINCINNATI, Ohio--About 300 dissident members of the First Baptist Church of Cold Spring voted Sunday to officially form a new church, according to The Cincinnati Post.

A growing number of dissidents have been holding separate services since mid-February because they refuse to worship at the First Baptist Church while Rev. Larry Davis continues as pastor.

Kentucky State Police and a Campbell County grand jury are investigating what happened to about a half-million dollars unaccounted for at First Baptist Church.

No one has been charged with a crime and no suspects have been named, but former church treasurer Darryl Neltner has said Davis solely controlled one of the accounts in question.

Congregants of the new church, called Christ Baptist Church, elected a nine-member board of trustees that will file papers this week to become a non-profit organization in Kentucky, spokesman Dan Reynolds said.

"Based on what we're hearing from those in the congregation, there is no doubt in our minds that God is clearly leading us in the new opportunity," Reynolds said.

The dissident congregation also voted Sunday to name Rev. Bill Humphrey, a former First Baptist member, as the new church's interim pastor.

The congregation is holding Sunday morning services and Sunday school at Rolling Hills Christian Church in Cold Spring.

Reynolds said the group has secured the use of the church at anytime through April and will hold Good Friday services at 7 p.m.

Starting the week after Easter, the new church will hold Wednesday night prayer services.

"There is so much positive energy and so much enthusiasm of people excited about doing God's work," Reynolds said. "I've never been a part of starting a new church, but I will tell you this is one of the most exciting opportunities I've been able to be a part of."