The History of The 1st National Bank of Pikeville
1st National Bank Lobby 1924
The First National Bank of Pikeville began business as a State Bank under the name of the Bank of Pikeville. At the first meeting of the Board of Directors, of September 20, 1888, A. J. Hatcher was temporarily elected President and W. M. Connolly, Secretary and Treasurer.
The purpose of this meeting was to make plans for a brick bank building with law offices over it. The property was later purchased from Mrs. Kentucky Ferrell size 24′ x 40′. For $700. 00 and was paid for by the sale of Capital Stock. With the lot went the privilege of adjoining the bank building to the side of a store house on the next lot.
The following permanent officers were elected by the Board of Directors on December 8, 1888, R. M. Ferrell, President; C.W.Parson, Vice President; and Hi Williamson, “Cashier Temporary”, who was later replaced by J. B. Hatten as the Permanent Cashier and Secretary at a salary of $800.00 per year.
When the building was completed, the part occupied by the Bank contained 76,580 brick, which, at $3.00 per 1,000 amounted to $229.74 plus $236.74 for labor. The vault door was purchased from Hall’s Lock and Safe Company for $100.00, less $5.00 freight, to be paid on arrival. The Directors of the Bank of Pikeville met in the Court House on June 29, 1889, and adopted Minuets to the previous meeting and Bi-Laws for the Government of the Bank, which was Opened officially on July 1, 1889.
On April 1, 1890, the Directors decided they should provide better protection for their customers’ funds and valuables. A time-lock burglar-proof safe was purchased from Hall’s Lock and Safe Company in Cincinnati at the price of $675.00. This was later traded in on a Mosler Safe, which has a round top with a rotating combination lock center section, approximately nine and one-half cubic feet. This safe was the very latest protection in the bank-vault line at that time. It can still be seen in the inner vault of the bank, as the large outer vault was later built around it and the safe has never been removed.
Application was made for the conversion into a National Bank and permission was granted on February 20, 1903. The name was officially changed to The First National Bank of Pikeville, and the following officers were elected to operate the rest of that year: John W. Ford, President, J.P. Powers, Vice President, J. C. Bowles, Cashier, and W. W. Gray, Assistant Cashier.
We have enjoyed good leadership by our past and present officers. Following are the men who have served as Presidents;R. M. Ferrell; John W. Ford; W. W. Gray; George W. Greer: Mack Bowles: Kelly Day; Norman A. Chrisman; and Walter P. Walters, Sr.; our current President.
July 18, 1924. Pike County News
On January 13, 1925, the Office of “Chairman of the Board” was created, with George W. Greer elected to hold this newly elected office. He was succeeded in this office in later years by the following: Mack Bowles; Cecil R. Greer; Robert H. Hobbs; and James G. Hobbs; our present Chairman.
Presently serving in various capacities are John E. Coleman, G. Roger Roberts, Jonathan W. Hiers, Portia Doka, Wilnah H. Dixon, Sidney E. Copley, James T. King, Kelly Brown, David Varney, Steve Belcher, John Sanders, Gene Sturgill, John Kellogg, and Roger Varney.
Series of 1929/ $10 Bill
October 9, 1930. Pike County News
In 1932, $3,235.00 was spent for the installation of the Mc Clintock Bandit Barrier Protection System. Up until this time, a guard has been employed for the lobby of the bank. Extensive remodeling of the bank was undertaken again in 1952, and the new lobby and exterior was completed in early 1953
The first branch bank was opened at South Williamson Ky, on August 1, 1963, to better serve the Pike County Public and the growth of First National Satellite Facilities was on the way. Presently there are five branches of the bank and another is to be in service by the end of the year, 1980.
Ninety years after opening its doors as the Bank of Pikeville, The First National Bank has become the fastest rowing bank in Eastern Kentucky. A new multi-million dollar brick structure , housing a modern bank and cafeteria will be open for business before the end of 1980.
In contrast to the 76 thousand brick used in its initial construction, the new seven story First National Bank Building is constructed of over 600,000 bricks with concrete parking space for 100 plus cars.
We have enjoyed serving our community and helping it grow. We hope Eastern Kentucky will continue to progress and that we will share in that progress.
1935
Deposit Ticket
1925 1st Nation Bank of Pikeville Calendar
