The first discussions by Bank of Lexington’s organizers were to raise $12 million in capital. While this amount was aggressive it was believed to be attainable. At the end of the day, there were enough investors to raise nearly $14 million in capital. With the funds in place, the organizers could move forward.
Realizing that a bank is only as strong as its foundation, a board of directors was assembled featuring a number of successful members of our community. The board of directors, headed by Chairman Daniel McQueen, then put together a management team that has an average of eighteen (18) years of banking experience in the Central Kentucky area. John L. Mauldin was chosen to be President and Chief Executive Officer.
Bank of Lexington was granted a charter as a state commercial bank and opened for business on February 6, 2006. The original main office was on the first and fourth floors of a ten-story landmark on Harrodsburg Road. The bank’s name and logo are still featured prominently at the top of this building. These locations were utilized until a new structure was built at 761 Corporate Drive, Lexington, Kentucky.
From the first day with just under $14 million in assets, growth has been progressive and steady. This prudent growth has been a result of quality credits and sound underwriting analysis by our experienced lending staff, as well as our attractive menu of deposit products.
Bank of Lexington associates have been and will always be committed to increasing shareholder value through continued steady growth and expansion throughout the Lexington region. While our history is brief, our future is bright and we look forward to serving more and more residents of our community.