Citizens National Bank is a bank headquartered in

Paintsville, Kentucky Paintsville () is a list of Kentucky cities, home rule-class city along Paint Creek (Johnson County, Kentucky), Paint Creek in Johnson County, Kentucky, Johnson County, Kentucky, in the United States. It is the county seat, seat of its county. The ...

and is the second largest independently owned bank in

Kentucky Kentucky (, ), officially the Commonwealth of Kentucky, is a landlocked U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders Illinois, Indiana, and Ohio to the north, West Virginia to the ...

, with total assets of $599.5 million (as of June 30, 2010).Financial Details for Citizens National Bank of Paintsville
Investigative Reporting Workshop. American University School of Communication. Retrieved on 2010-11-13 Citizens National Bank is a national bank, regulated by the

Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to corporate charter, charter, bank regulation ...

, Department of the Treasury. It should not be confused with the smaller Citizens National Bank headquartered in

Somerset, Kentucky Somerset is a home rule-class city in and the county seat of Pulaski County, Kentucky, United States. As of the 2020 census, its population was 11,924. History Somerset was first settled in 1798 by Thomas Hansford and received its name from ...

History

The original Citizens National Bank location opened on Main Street in Paintsville on February 16, 1910, and was known as Paintsville Bank and Trust Company. In 1917, a new two-story building was constructed to replace the much smaller frame building that was located just down the street. Then on January 3, 1927, the bank became a national bank and was renamed the Second National Bank of Paintsville. After a few more years, the bank became the principal bank of Paintsville and Johnson County. So on June 30, 1959, to celebrate being the oldest continuously operating and most popular bank in the county, they decided to change the bank's name to Citizens National Bank. One year later on February 15, a new location was opened on the corner of Broadway and Tenth Street. This location was called The Motor Bank Branch because it was the first branch location to have a drive-thru. Then on March 29, 1971, the bank built the Family Banking Center adjacent to the Motor Bank. Beginning in the late 1970s and early 1980s, Citizens National Bank began to expand rapidly. So to meet the needs of their customers, they opened the Mayo Plaza Branch on November 15, 1978, and the Village Plaza Branch on August 7, 1982. In the latter part of 1982, Citizens National Corporation was created to serve as the

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

of the bank. Then on December 11, 1985, the corporation sold two million dollars in

Industrial Revenue Bonds A revenue bond is a special type of municipal bond distinguished by its guarantee of repayment solely from revenues generated by a specified revenue-generating entity associated with the purpose of the bonds, rather than from a tax. Unlike genera ...

to erect a new main office building next to the Family Banking Center. On January 17, 1988, the new four-story main office building opened and shortly afterwards the no longer needed Motor Bank was torn down. Retrieved on 2010-11-4 In the past decade, Citizens National Bank has merged with three other banks: The Bank Josephine, Heritage Bank of Ashland, and Kentucky National Bank. Currently, there are 17 locations in Boyd,

Carter Carter(s), or Carter's, Tha Carter, or The Carter(s), may refer to: Geography United States * Carter, Arkansas, an unincorporated community * Carter, Mississippi, an unincorporated community * Carter, Montana, a census-designated place * Carter ...

, Fayette, Floyd, Greenup,

Johnson Johnson may refer to: People and fictional characters *Johnson (surname), a common surname in English * Johnson (given name), a list of people * List of people with surname Johnson, including fictional characters *Johnson (composer) (1953–2011) ...

, Magoffin and

Pike Pike, Pikes or The Pike may refer to: Fish * Blue pike or blue walleye, an extinct color morph of the yellow walleye ''Sander vitreus'' * Ctenoluciidae, the "pike characins", some species of which are commonly known as pikes * ''Esox'', genus of ...

Counties in Kentucky.Citizens National Bank
Retrieved 2009-02-09

Donations

*In 2007, the bank donated their former headquarters located at 75 Main Street to the city of Paintsville. The city then converted it into the new city hall. *In 1984, it donated the old

Consolidation Coal Company Consolidation may refer to: In science and technology * Consolidation (computing), the act of linkage editing in computing * Consolidation (locomotive), popular name of a steam locomotive with a 2-8-0 wheel arrangement * Consolidation (soil), a ...

office at Van Lear to the Van Lear Historical Society. The historical society then transformed it into the Coal Miner's Museum.Coal Miners' Museum
Retrieved 2009-11-26 *On August 18, 2010, Midway College School of Pharmacy received a $50,000 donation for the construction of the new campus in Paintsville.Citizens National Bank Donates $50k for New Pharmacy School in Paintsville
Midway College School of Pharmacy. Retrieved on 2010-11-13

History

Donations

References

See also