Lincoln County National Bank |
Deposit Bank of Stanford established 1854-1865
National Bank of Stanford 1865-1885
First National Bank of Stanford 1885-1938
Stanford State Bank established 1938, later merged with Lincoln County National Bank
Lincoln County National Bank established 1883
1905 - Acquired First National Bank of Stanford, Acquired State Bank and Trust Company
1956 - Acquired McKinney and Crab Orchard Bank
Lincoln County’s banking history began when there were few banks in the area during the 1800s. The Louisville & Nashville railroad opened up larger areas in eastern Kentucky for the shipment of coal and timber. The addition of the Railroad Express brought an easier method of transporting cash from bank to bank, which was formerly carried by a bank official in a handbag by horse and buggy. One chore of the early banking days was the signing of currency, which had to bear the name of the bank, name of the bank president and cashier to become legal tender.
Deposit Bank of Stanford was the first bank in Lincoln County, having received its charter on March 9, 1854 and later reorganized in 1865, as The National Bank of Stanford. On October 3, 1882, the stockholders voted to liquidate the National Bank of Stanford and take over its business with a larger institution, The First National Bank of Stanford that had a larger capital base. The increase in capital became necessary in order to take care of the development of this part of the state along the Louisville and Nashville railroad and continued to serve Stanford for 48 years.
The Lincoln County National Bank received its charter on March 3, 1883. The assets of the State Bank and Trust Company were added to the First National Bank when the stockholders voted to liquidate and merge with The First National Bank on November 30, 1905. The First National Bank became the Stanford State Bank on April 1, 1938, which later merged with the Lincoln County National Bank. The Lincoln County National Bank purchased the assets of the McKinney and Crab Orchard Bank in 1956, increasing its market area in the community.
The Lincoln County National Bank continued to serve Lincoln County for 100 years until First Southern’s entry into banking on February of 1983, with the acquisition of Lincoln County National Bank, now known as First Southern National Bank.
Lincoln Federal Savings and Loan |
Lincoln Federal Savings and Loan established 1926 -1996
Lincoln Federal Savings Bank was incorporated as a state-charted building and loan association on March 1, 1926.
The Bank obtained Federal Deposit Insurance and became a member of the Federal Home Loan Bank of Cincinnati on December 9, 1936.
Lincoln County Federal Savings and Loan Association of Stanford’s Directors in 1974 were W.G. Morgan, H.S. Anderson, Joe N. Pettus, J.F. McBee, Jim McCormack, Foster R. Phillips, B.J. Gaines, Minor Teague and Albert Jackson.
In 1989 the savings and loan association was converted to a federal mutual savings bank.
On June 28, 1994, the Bank converted from mutual to stock form and simultaneously became a wholly-owned subsidiary. The Lincoln Federal Savings and Loan main office operated in Stanford, with branch offices in Stanford and Liberty, Kentucky.
National Bank of Hustonville |
National Bank of Hustonville established 1884-1990
The National Bank of Hustonville was charted in 1884 by the following men, who made up the first Board of Directors: J.W. Watherford, T.J. Robinson, J.D. Riffe, J.D. Carpenter, E.S. Powell, J.P. Flannigan, Dr. Edward Alcorn and T.C. Jasper.
The charter officers of the bank were J.W. Weatherford, President, T.J. Robinson, Vice President and J.W. Hocker, Cashier. Initial capital totaled $50,000, with a surplus of $3,500.
First Southern’s Hustonville branch building, located on Main Street in Hustonville, was the third main location of The National Bank of Hustonville.