Yes it will. The good news is that your current 270 area code and telephone number will not have to change. You'll just need to change your local dialing procedure from dialing just seven digits to dialing ten digits (including the area code).
Since both 270 and the new 364 area code will cover the same local dialing area, it creates the need for you to include the area code (270 or 364) plus the seven digit number for all local calls even those within your same area code.
This change does not affect your local calling area or your call rates. There is also no change to calling long distance, 1 + ten digit dialing, or special services such as 911, 411, 311 or 611 if available in your area.