The Casey County Bank Inc., was granted a charter by the Kentucky Department of Banking December 19, 1939 and opened for business December 20, 1939, the bank was capitalized at $50,000.00 with a surplus of $10,000.00.
The first Board of Directors were: E.C. Moore, James P. Cowden, M.L. Sharp, W.A. Edrington, William Humphrey, J.H. Roberts, Dallas Rule, C.N. Shaw, and John W. Weddle. The first officers were: E.C. Moore, president; James P. Cowden, vice president; C.N. Shaw, cashier; M.J. Humphrey and Tule Kinser, assisant cashiers.
The bank grew from the first day of business as it was the only bank in Liberty, the county seat. The capital structure was increased to $100,000.00 by transferring $50,000.00 from the surplus to the capital fund.
The institution continued to grow and in August of 1973, at a called meeting of the stockholders, it was voted to increase the capital structure by $250,000.00 by declaring a stock dividend of one hundred percent and by the issuance of an additional 2,000 shares at $10.00 per share. At the same time a stock split of ten for one was declared by the stockholders.
The late Senator E.C. Moore continued as president of the institution from 1939 until his death in January 1970. Elmer C. Allen assistant cashier and cashier since 1946, was elected president and served until 1980, when he was elected as first chairman of the board. Robert T. Rousey, who had been with the bank since 1942 as clerk, teller, and assistant cashier, was named president.
Much has happened at the bank over the years and going into the 21st century the bank has a lot to be thankful for. From the support of the community and the hard work of the employees and directors the bank now has a very healthy capital structure.
Thanks to Gladys Thomas and her research. This information was taken from her writing on the history of Casey County. For more information contact or visit the Casey County Library.
"Beware of little expenses; a small leak will sink a great ship."
- Benjamin Franklin
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