Citizens National Bank (Eastern Kentucky)
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| Company type | Private |
|---|---|
| Industry | Retail and commercial banking |
| Genre | Banking |
| Founded | February 16, 1910 |
| Headquarters | 620 Broadway Avenue , Paintsville, Kentucky United States 41240 |
Number of locations | 17 |
Key people | Dennis Dorton; President, Chief Executive Officer |
| Products | commercial and retail banking, mortgage financing and servicing, consumer finance and asset management |
| $2.1 million USD (2010) | |
| Total assets | $599.5 million USD (2010) |
| Total equity | $67.3 million USD (2010) |
| Owner | Citizens National Corporation |
Number of employees | 187 (2010) |
| Website | cnbonline.com |
Citizens National Bank, based in Paintsville, Kentucky, ranks as the second largest independently owned banking institution in the state of Kentucky, with assets totaling $599.5 million as of mid-2010. It functions as a nationally chartered bank under the supervision of the Office of the Comptroller of the Currency, part of the Department of the Treasury.
This entity should not be mistaken for the smaller Citizens National Bank located in Somerset, Kentucky.
History
Established on February 16, 1910, originally named Paintsville Bank and Trust Company, the bank initially operated from its first branch on Main Street in Paintsville. In 1917, it moved to a newly constructed two-story facility. The institution transitioned to national bank status on January 3, 1927, adopting the name Second National Bank of Paintsville.
By June 30, 1959, as Johnson County’s longest-standing and primary banking institution, it was rebranded as Citizens National Bank. The following year saw the launch of its inaugural drive-thru service branch—the Motor Bank Branch—situated at Broadway and Tenth Street. Adjacent to this location, the Family Banking Center was introduced in March 1971.
Expansion continued through the late 1970s and early 1980s with new branches opening at Mayo Plaza in 1978 and Village Plaza in 1982. That same year, Citizens National Corporation was formed to serve as the bank’s holding company. To support construction of a new main office building—completed in January 1988 and replacing the Motor Bank—the bank issued Industrial Revenue Bonds in 1985.
In recent years, Citizens National Bank has grown by merging with The Bank Josephine, Heritage Bank of Ashland, and Kentucky National Bank. Presently, it maintains 17 branches across eight Kentucky counties: Boyd, Carter, Fayette, Floyd, Greenup, Johnson, Magoffin, and Pike.
Donations
- In 2007, the bank gifted its former headquarters at 75 Main Street to the city of Paintsville; this building was repurposed as the new city hall.
- In 1984, it contributed the old Consolidation Coal Company office located in Van Lear to the Van Lear Historical Society, which converted it into the Coal Miner's Museum.
- On August 18, 2010, Midway College School of Pharmacy was awarded a $50,000 donation from Citizens National Bank to assist with establishing its new campus in Paintsville.