Throughout 2019, Lewisburg Banking Company has been celebrating its 125th Anniversary, with all those years featuring the same name and local ownership. Customers have gotten to be a part of the celebration through a number of promotions.
Management is not resting on the bank’s accomplishments. In the last few weeks, the bank has installed state-of-the-art Interactive Teller Machines at all its offices, which can be found at all four cities in Logan County. Auburn will join Lewisburg, Adairville and Russellville in having a full-service location this Thursday.
The following is a brief summary of the long history of one of Logan County’s greatest business assets:
LEWISBURG BANKING COMPANY IS CHARTERED
Lewisburg Banking Company was chartered on Feb. 10, 1894. There were 35 original stockholders. The bank was chartered with 150 shares with each share selling for $100; thus making a capital investment of $15,000.
An organizational meeting of the stockholders of the proposed banking company to be located at Lewisburg, Logan County, Ky., was held in Lewisburg, Feb. 24, 1894. T.S. Proctor was appointed Chairman Pro Tem and R.E. Glenn, Secretary. W.B. Smith explained the object of the meeting, which was to organize a banking institution to be located at Lewisburg. The stock being all subscribed and a majority of it represented, a motion was made and seconded for the Chairman to appoint a committee of three to draft a charter. The committee consisted of W.B. Smith, R.W. Newman and J.W. Hutchings.
The first directors were: Dr. J.W. Hutchings, J.W. Stuart, T.S. Proctor, O.A. Bland, R.W. Newman, J.F. Barrow, J.W. McReynolds, J.A. Simmons, G.W. Milam and J.S. Depoyster. The men were also the major stockholders of the bank. Dr. J.W. Hutchings was elected first bank President. W.B. Smith was elected first Cashier at $1000 per year for his services. Most of these officers continued in their positions until after the turn of the century.
FIRST BUILDING LAND ACQUIRED
According to the deed dated April 12, 1894, the first bank building was located on Front Street twenty-six feet from the corner of Front and Green Streets. The lot which ran 26 feet on Front Street was purchased from Dr. J.W. Hutchings for $106.25. The first day of business was July 12, 1894. Only the foundation cornerstones remain today of this first building.
May 19, 1923
SECOND LOCATION LAND ACQUIRED
By deed dated May 19, 1923, the bank purchased its second location and built the second bank building shortly thereafter. This lot ran 32 feet on Front Street adjacent to the corner of Front and Sneed Streets and was purchased from Mrs. Willie Arnold. This second location is currently known as the Bargain Center and is owned by Ricky and Ruth Bell.
August 21, 1982
CURRENT LOCATION LAND ACQUIRED
The third and current location, 114 Eighth Street (287 Lewisburg Road), was purchased from Glendle Groves on Aug. 21, 1982, containing 204.66 feet on Eighth Street (Highway 431 North) for the purchase price of $15,000. The first day of business in this location was Aug. 4, 1983.
October 9, 1983
NEWEST LOCATION OPEN HOUSE CELEBRATION
According to the News-Democrat dated Oct. 6, 1983, Open House for the new bank building was held on Oct. 9, 1983. D.A. Ryan, President at the time, reminisced about their moving from the downtown area near the railroad tracks to the major highway near where most of the major businesses have now located. He mentioned that he had been associated with the bank for 64 years -- having joined the bank in 1919. He noted that the bank was organized in 1894 just two years before he was born. Mr. Ryan recalled the worst years of the bank as 1931 and 1932, when everyone suffered through the Depression and noted the bank reorganized in '32.
Bob McReynolds, Vice President, stated there had been a gradual growth in the bank over the years and we could see the town moving out to the highway. Attempting to sum up the move, McReynolds said, "That's progress," and paused for a moment and said, "I guess."
1986
D.A. RYAN, PRESIDENT, PASSES AWAY
Many bank patrons were saddened at the death of "Mr. D.A." in 1985. R.C. (Bob) McReynolds Jr. became President upon the death of Mr. Ryan. Bill McKinney became President upon the death of Bob McReynolds the following year, 1986.
September 21, 1992
LBC EXPANDS INTO NEW AREAS
The Board of Directors realized that Lewisburg Banking Company had many customers in the Russellville area and voted Sept. 21, 1992, to build its first branch bank. By deed dated Nov. 30, 1992, the bank purchased property located at 780 Hopkinsville Road in Russellville and built its first branch bank. Its first day of business was June 14, 1993, and Grand Opening Ceremonies were held July 18, 1993.
Fall 2009
LBC OFFICE IN RUSSELLVILLE OPENS
In the fall of 2009, Lewisburg Banking Company purchased a building and property at 200 Armory Drive in Russellville. This became LBC's third office as a drive thru only location. LBC offers non-traditional hours at this office to allow customers more convenient banking hours. This office opened and began serving customers in November 2009.
January 18, 2011
ADAIRVILLE LOCATION OPENS
As growth continued, Lewisburg Banking Company acquired a fourth location in South Logan in early 2011. On Jan. 18, 2011, the Adairville Office of Lewisburg Banking Company opened at 109 Park Avenue in Adairville. This office will serve both LBC's existing customers as well as customers acquired through the purchase of this branch.
June 2014
Watch for the groundbreaking of the new building addition at our Russellville office on Hopkinsville Road.
February 2015
Building addition complete for Hopkinsville Road office in Russellville!
January 2016
EDNA HUGHES NAMED PRESIDENT
The bank announced the promotion of Edna H. Hughes to President/CEO. Mrs. Hughes assumed the position with 33 years of community banking experience. She is not only the first female president to serve at Lewisburg Banking Company; but the first female bank president in Logan County and several surrounding counties.
Its presidents have included the following: the first president, Dr. J.W. Hutchings, 1894 for several years: O.A. Bland, mid 20's to August 1932; Bland Arnold, August 1932 to October 1932; R.R. McClellan, October 1932 to December 1936; J.E. Milam, January 1937 to December 1943; V.L. Price, January 1944 to December 1947; E.C. Harper, January 1948 to November 1965; D.A. Ryan, January 1966 to May 1985; R.C. McReynolds, Jr., June 1985 to November 1986; Bill McKinney, January 1987 to February 1994; Kenneth Coleman, CEO 1987 to December 1993; Carroll Yates, February 1994 to October 2003; Dwight Gardner, November 2003 to April 2004; Billy Bingham, May 2004 to January 2016; Edna H. Hughes, January 2016 to present.
September 2019
ITMs ARRIVE IN LOGAN
Lewisburg Banking Company began installing Interactive Teller Machines (ITMs) at their two Russellville offices. These are the first ITMs in Logan County and some of the first in Southcentral Kentucky. The machines provide cutting-edge technology, that will enhance our customer experience. The machines have been installed at all offices. Each are working in the ITM capacity at all with exception of Auburn (going live January 2, 2020) and Lewisburg (going live in March 2020). The machines operate as an Automated Tell Machine (ATM) 24/7, just like any ATM machine. The ITM portion of the machine features live video tellers, available 7:30 a.m. to 6 p.m. Monday through Friday and Saturday 8 a.m. to noon. Each machine features the capabilities to make deposits, loan payments and check cashing. The machines provide speed, efficiency and longer processing hours to better serve our valuable customers.
DECEMBER 2019
AUBURN OFFICE OPENING
We are finalizing preparations to open our Auburn Office, which is located at 124 Sugar Maple Drive. Regulatory approval was received from the Federal Reserve Bank of St. Louis in May 2019. The full-time service office will be open for business beginning January 2, 2020.
PAST, PRESENT AND FUTURE
During its existence, Lewisburg Banking Company has retained its original name and remains as the only Logan County financial institution that has not been acquired nor purchased through a merger.
The current staff and Board of Directors still take pride in the establishment of Lewisburg Banking Company. Lewisburg Banking Company will strive to continue offering its customers great service and satisfaction for all their banking needs.