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Paducah Bank history
Paducah Bank company history timeline
The crack of the wooden bat will shoot its way across the eager crowd just as it did on Brooks Stadium’s opening day in 1949.
1955 | Growth continued at such a pace that by mid-1955, the Bank was forced to relocate to a newer and larger facility at 529 Broadway.
Katterjohn was elected to the Board of Directors on June 25, 1957.
As our first branch and built in the 1960’s, it was in dire need of refreshment.
1964 | On January 1, 1964, Paducah Bank opened its first branch location, the current Mid-City Banking Center located at 2401 Broadway.
In 1966, the recording of “Double Shot of My Baby’s Love” sent the Swingin’ Medallions to the top of the charts.
1973 | In the summer of 1973, a hole was knocked in the bank wall facing Broadway, which created the first walk-up teller position.
1977 | Paducah Bank was among the leaders in the area to invest in new technology known as ATMs.
1978 | By 1978, the Bank had completely outgrown its Broadway facilities.
1984 | In mid-1984, a newly formed Holding Company, Paducah Bank Shares, Inc., purchased controlling interest in the Bank.
Bill was one of the founders of Paducah Bank Shares, Inc., the company which bought Paducah Bank in 1984 to ensure that it would always remain a locally owned community bank.
Assets were $123 million when he started in August 1994, and employees totaled 71.
1995 | In 1995, the Bank installed a state-of- the-art, full-service ATM network at nine locations around McCracken County.
Also in 1996, Paducah Bank added another branch location on the western end of town . . . our West Park Banking Center opened in November 1996.
1996 | Paducah Bank converted its entire database from Computer Services, Inc. (CSI) to an in-house system in 1996, thereby creating new technological efficiencies and allowing us to position ourselves for even greater growth.
The McCracken County assets of Republic Bank and Trust were purchased in November 1997.
1997 | Paducah Bank made its first-ever acquisition of another financial institution.
Danny stepped up to the position of Paxton Park director when his father, Kayo, retired in 1998.
1999 | 1999 saw the advent of internet banking at paducah bank as well as a refining of our marketing and sales approach.
2001 | Management began to work diligently to position the Company for a Subchapter S election, which was finalized in December 2001.
In 2002, the Bank’s Directors and management had the foresight to purchase 3-acres of land on a prime corner of the development.
2003 | A Good-to-Great Council was formed in November 2003, and immediately put the flywheel in motion to develop and create the Bank’s Core Values.
Beginning in 2003, Champion Ultradwarf Bermuda grass replaced the old greens, providing a year-round quality putting surface.
The Bank’s Core Values—People, Moral Soundness, Culture, Independently Owned, and Community Involvement—were presented to the Board of Directors on October 14, 2004.
A tremendous milestone was reached when Paducah Bank exceeded $400 million in assets as of September 30, 2005—$402,643,385.
2005 | In 2005, the Good-to-Great Council was charged with the development of the Bank’s Hedgehog Concept.
Expansion plan discussions continued in internal meetings and board meetings, and in March 2006, the Bank purchased 1.5 acres in Hannan Plaza for the development of a new banking center.
2007 | In recognition of 50 years of devoted commitment and service to Paducah Bank and to our community, the Operations Center was dedicated in honor of H. E. “Gene” Katterjohn on January 25, 2007.
WOW! What a wonderfully historical day for our Bank! In June 2008, our Bank celebrated its 60th year as a locally-owned community bank by having a party for our employees, customers, and community! The event was held at the Four Rivers Carson Center and the Swingin’ Medallions performed.
Our market area continued to reflect some of the economic challenges of our national economy as it struggled to move beyond the recessionary period that began in 2008.
What a fabulously exciting night for Paducah Bank! United States financial markets started the 2009 year under much distress.
In July 2010, our Board responded to customer requests for a facility on the Southside of town by approving the purchase of a tract of land for the construction of a new one-story, 3,500-square-foot facility.
In spite of these uncertainties, Paducah Bank set an ambitious net income goal for 2010: 10 in ’10.
As of March 31, 2011, the Bank continued to experience steady growth with total assets of $531,935,821, an increase of 5.68% over the past twelve months.
Our latest stock value reached $505 per share on June 30, which reflects our superior financial performance and a generally improved market for community bank stocks, at least during the first half of 2011.
Since a new facility was constructed at Strawberry Hill and this property was no longer needed, the property was sold in December 2012 to take advantage of a lower capital gains tax rate.
The gain on this sale was the largest portion of the below-the-line income for 2012 which, of course, was non-recurring.
During the first quarter of 2012, a completely redesigned website was introduced that was much more user-friendly and presented a much better image for the Bank.
In May, USEC announced their first quarter 2013 results, placing the Paducah Gaseous Diffusion Plant and 1,200 workers in jeopardy.
Mardie R. Herndon, Jr. began his tenure on August 30, 2013.
In 2013, Paducah Bank was recognized as one of the world’s “Top 50 Community Banks on Social Media” by the ICBA. The bank is also a leading contributor to local civic and charitable projects including being a founding partner of Paducah’s award-winning Artist Relocation Program.
2014 | On May 1, 2014, new Directors were elected to our respective Boards.
The Bank created a Teen Ambassador program in 2016 in order to learn more about the needs and preferences of students, to expand the Bank’s financial services offerings, and to provide these ambassadors with real-world work experience.
2016 | 2016 began with the Paducah Bank Shares, Inc. board of directors electing Conner Framptom to serve as a new director on the board.
Our 2016 results were very solid, keeping Paducah Bank well within a group of high-performing banks among our peers.
2017 | A major focus in 2017 was the expansion of the Paducah Bank brand into a new major market.
January 24, 2018 marked Paducah Bank’s 70th anniversary.
The Directors of Paducah Bank Shares, Inc. unanimously elected Doctor James Kyle Turnbo to serve on the Paducah Bank Board of Directors in October 2018.
Total assets at the end of 2018 were $649,562,632 (up 1.77%). Operating income was down by more than 7% in 2018 driven by a shrinking net interest margin and a lack of substantial loan growth.
2018 | In 2018, Paducah Bank named seven area business leaders to serve on its newly formed Community Board.
The Mid-City branch was closed from July to October 2019 for a major renovation project.
All the key financial indicators for the Bank and Company (capital, liquidity, asset quality, loan loss reserve) remained very positive at the end of 2019.
At the end of 2021, the Bank’s loan portfolio had never been in better condition.
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Paducah Bank competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Skagit Bank | - | $30.4M | 163 | - |
| Guaranty Bancorp | 1998 | $159.7M | 517 | 8 |
| WSFS Bank | 1832 | $2.1B | 1,838 | 110 |
| Gorham Savings Bank | 1868 | $44.2M | 110 | - |
| MVB Bank | 1999 | $110.4M | 339 | 5 |
| Farmers & Merchants Union Bank | 1861 | $6.3M | 32 | - |
| Unity Bank | 1991 | $1.5B | 2,072 | 38 |
| Florida Bank Group | 1985 | $35.1M | 100 | - |
| Star Financial Bank Anderson Indiana | 1943 | $160.0M | 567 | 27 |
| Extraco Banks | 1902 | $160.0M | 535 | - |
Paducah Bank history FAQs
Zippia gives an in-depth look into the details of Paducah Bank, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Paducah Bank. The employee data is based on information from people who have self-reported their past or current employments at Paducah Bank. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Paducah Bank. The data presented on this page does not represent the view of Paducah Bank and its employees or that of Zippia.
Paducah Bank may also be known as or be related to Paducah Bank, Paducah Bank Shares, Inc., The Paducah Bank & Trust Company and The Paducah Bank and Trust Company.