February 24, 1894
Lewisburg Banking Company is Chartered
Lewisburg Banking Company was chartered on February 24, 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, Kentucky, was held in Lewisburg, February 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, Kentucky. 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.
April 12, 1894
First Building Land is 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 is 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 is Acquired
The third and current location, 114 Eighth Street,(287 Lewisburg Road), was purchased from Glendle Groves on August 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 August 4, 1983.
October 9, 1983
Newest Location Open House Celebration
According to the News Democrat dated October 6, 1983, Open House for the new bank building was held on October 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."
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 September 21, 1992, to build its first branch bank. By deed dated November 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.
Its presidents have included 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.
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 of 2009.
January 18th, 2011
Adairville Location Opens
As growth continued, Lewisburg Banking Company acquired a fourth location in south Logan in early 2011. On January 18th, 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.
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.
LBC is growing again!
Watch for the groundbreaking of the new building addition at our Russellville office on Hopkinsville Road.
LBC is growing again!
Building addition complete for Hopkinsville Road office in Russellville!