﻿<?xml version="1.0" encoding="utf-8"?><Search><pages Count="132"><page Index="1" isMAC="true"><![CDATA[ THE
FIRST 140 YEARS
]]></page><page Index="2" isMAC="true"><![CDATA[        ]]></page><page Index="3" isMAC="true"><![CDATA[ THE
FIRST 140 YEARS
]]></page><page Index="4" isMAC="true"><![CDATA[The First 140 Years — Farmers National Bank © 2019 by Farmers National Bank
By: Sharon K. Howell Design by: Abby Sams
All rights reserved. No part of this book may be reduced in any form without permission in writing from the publisher, Farmers National Bank or Sharon K. Howell, except in case of brief quotations embodied in critical articles or reviews.
ISBN: 978-0-578-44485-7
Library of Congress Control Number: 2019903864
Printed by: Consolidated Graphic Communications, Lexington Kentucky Printed in the United States of America.
       ]]></page><page Index="5" isMAC="true"><![CDATA[    This publication dedicated to the Directors, Officers and Employees, living and non-living, of Farmers National Bank, FNB Investment Services and WealthSouth.
                                         THE FIRST 140 YEARS | 1
    ]]></page><page Index="6" isMAC="true"><![CDATA[                                                                                                          TABLE OF CONTENTS
Dedication. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 1
Introduction: Bank’s Historical Home & Record of Deeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 2
Finance & Banking in Danville, Ky. (1885 to 1965). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 3
Financial Highlights Within the U. S. and Boyle County, Ky. (1960 to 2019) . . . . . . . .
CHAPTER 4
The First 140 Years — Farmers National Bank (1879 to 2019): Timeline. . . . . . . . . . . . . . .
CHAPTER 5
Display Contents of Bank Historical Archives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 6
Money Printed by Farmers National Bank (1879 – 1935) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 7
Retirees (1980 to 2018). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 8
History of Bank Presidents, CEOs & Chairmen of Board. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . 1 . . 5
. . 9
.16
.19
73
78
84
87
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   ]]></page><page Index="7" isMAC="true"><![CDATA[                                                                                                                                                                                        CHAPTER 9
History of Bank Directors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 10
Board of Directors 2019. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 11
. 88
. 91
Community Advisory Members 2019. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92
CHAPTER 12
Farmers National Bank Family in 2019 – Employee Listing & Bank Officers. . . . . . .
CHAPTER 13
Farmers National Bank Locations – February 10, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 14
Looking to the Future. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
CHAPTER 15
Obituaries of Past Presidents of Farmers National Bank. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Acknowledgements & Resources. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . About the Author. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. 93
103
114
116 125 126
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   ]]></page><page Index="9" isMAC="true"><![CDATA[                                                                                                                                                                                                                                                                                                                                       THE FIRST
140 YEARS
FARMERS NATIONAL BANK
INTRODUCTION
1879 – 2019
         THE FIRST 140 YEARS ||55
       ]]></page><page Index="10" isMAC="true"><![CDATA[        ]]></page><page Index="11" isMAC="true"><![CDATA[Historical Home of Farmers National Bank
304 W. Main Street, Danville, Kentucky
When Farmers National Bank was chartered to start business on February 10, 1879, it started with no home of its own. It used rented quarters located at 304 W. Main Street, Danville, Kentucky. Eight years later, it acquired that same building (known as the Whitley Building). In 1937, the bank built a new building on this same property — Farmers National Bank’s corporate office, as of February 10, 2019.
In 1943, Farmers National Bank acquired Boyle National Bank and moved that business to this same location, at 304 West Main Street. In 1950, the building on the south side of main street was enlarged. In 1959, Farmers National Bank provided the first drive-in facility on Walnut Street (this property located on the backside of the Whitley Building.) A major main office renovation started in 1976 (removal of the older Moore Building). The construction of this addition was completed in 1978. An automated 24-hour teller machine was also installed — first of its kind in the area — located on the corner of Third Street and Main Street. In 1981, the Oldham building to the west of the Whitley building was purchased. And, in 1994,
bank acquired the Masonic Lodge building on South Third Street and purchased the Boyle Pharmacy/Spoonamore building during 2004. It was after this date that the front of the building (Main Street) was restored to the current day Victorian architectural style.
               T
0 YEARS | 7
TH
H
E
EF
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IR
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40
             ]]></page><page Index="12" isMAC="true"><![CDATA[Public Record of Deeds
Farmers National Bank, 304 W. Main Street, Danville, KY
(Boyle County Courthouse, Danville, KY)
Deed 4-22- 1887 Deed Book 20 Page 227 & 233
Purchased for $6,000.00 from A. G. Whitley (former owner - J. C. Caldwell) (The original Farmers National Bank lot, 21' 6" by 71' 6", 304 West Main)
Deed 8-17-1929 Deed Book 58 Page 335 Purchased for $3,000.00 from Hugh and Ethel Moore (The small lot behind original lot, 16' 7" by 22' 4")
Deed 6-23-1930 Deed Book 59 Page 348
Purchased for $20,000.00 from Mary Cox (22' 1" by 71' 6", 302 West Main Street)
Deed 11-5-1945 Deed Book 75 Page 320 Purchased for $30,000.00 from Paul L. and Mary Lee Mannini (The Park Restaurant, 19' 2 1⁄2" by 172')
Deed 5-15-1959 Deed Book 116 Page 92
Purchased for $500.00 from Robert M. and Gladys C. Bear (Small lot)
Deed 1-26-1973 Deed Book 188 Page 122-126 and 131
Purchased for ,. from W. H. Owens (He purchased it from the Hugh Moore Estate) (Jans Shoe store building, 300 West Main Street)
Deed 8-5-1981 Deed Book 235 Page 192 Purchased for $85,500.00 from Mary Catlett Oldham (28.38' by 121' next to Paul Mannini lot)
Deed 8-2-1994 Deed Book 320 Page 265
Purchased for $162,500.00 from William and Cameron McAnly (The Masonic Building)
Deed 10-13-2004 Deed Book 420 Page 548
Purchased for $122,911.00 from Donald Spoonamore (Boyle Pharmacy)
    8 | FARMERS NATIONAL BANK
   ]]></page><page Index="13" isMAC="true"><![CDATA[ FINANCE AND BANKING
IN DANVILLE, KENTUCKY 1815 TO 1965
In the early years of the settlement of central Kentucky and Danville, there were no banking facilities and the residents were dependent upon the circulation of foreign coins or upon simple barter methods for trade and commerce. However, as the population grew rapidly and separation from Virginia was secured there was a growing need for an expanded currency and a desire to display the new state’s independence. In 1802, the Legislature incorporated the Kentucky Insurance Company which was given the right to exercise banking privileges including the issuance of money. With the solution of those problems which had created the Spanish conspiracy for separation of the west from the United States, in which several Danvillians were deeply involved, by the purchase of Louisiana, there was added pressure for easterners to move into Kentucky seeking the greater freedom presented by the new democratic state; as well, as the wealth deemed obtainable in lands. Because of the increase population, the efforts of the monopolistic Kentucky Insurance Company were not sufficient to answer the need for money and credit, and therefore, in 1806, the Legislature created the semi-public Bank of Kentucky, with the state putting up one-half the million-dollar capital.
These two concerns seemed sufficient to serve the public, and although not entirely satisfactory because they could not or refused to redeem their currency issues in gold, there was little Kentuckians could do. However, with the removal of the Indian threat
as a result of their defeats at Tippecanoe in 1809 by W. H. Harrison and again at Horse Shoe Bend, in 1814, by Andrew Jackson there began anew the flood of settlers west after the War of 1812. The lands east of the Mississippi River were rapidly filled by speculators, entrepreneurs, and settlers. There was a boom in both agriculture and industry and the
THE FIRST 140 YEARS | 9
]]></page><page Index="14" isMAC="true"><![CDATA[need for capital to enhance the projects of new residents could be not met by the two
old Kentucky institutions. The problem of Kentucky was the problem of the entire nation and thus in 1816 Congress chartered the Bank of the United States, a semi-public insti- tution patterned on the Bank of England, which was soon opening branches throughout the nation in a vain attempt to introduce sound and therefore safe banking principles. The opening of the branch at Lexington and another at Louisville added confusion to Kentucky’s monetary condition for the State Bank and the numerous wildcat banks found their currency refused by the national bank branches. As a result, merchants and business- men were never sure what the currency they handled was actually-worth. The money of the different banks circulated at various discounts which grew in ratio to its distance from the bank of issue.
There was a constant demand from the people of Kentucky for some solution to this confusion. From 1815 onward and finally in 1818, the Legislature bowed to this pressure and chartered forty-six branches of the Bank of Kentucky, with capital resources from $100,000 to $1,000,000. Danville, being an important market center for Mercer, Lincoln and Garrard counties, had been in the vanguard of those communities seeking banking facilities. In 1815, several residents had begun seeking capital to apply for a branch of the state bank. Since there were no large capital accumulations among these settlers, and their resources were largely in land, the organizers of the Danville Branch Bank sought for persons who would subscribe to stock and they pay for it on an installment plan. Joshua Barbee, John Rochester, and David Bell began advertising in the local newspaper that shares of this proposed bank were for sale. Thus, when the legislature created the Branch Banks the institution at Danville was among those which received charters. The Danville Branch Bank was barely organized before the entire west was prostrated by the Panic of 1819 and the overexpansion of its economy shattered.
One of the most important services provided in such a market town were credit and loan facilities – and after 1819, the Danville Branch Bank was the only source of these services for a wide area. The officers and directors of the bank were selected from among local landowners, business and professional men. In 1819, James Birney, a wealthy planter, was elected president of the bank, and the directors were listed as David Bell, Joshua Barbee, Dr. Ephraim McDowell, James Barbour, John Warren, Joseph Weisiger, and Henry Speed.
It was not a popular year for the bankers as they were blamed for the forced bankruptcies, the depression, and the scarcity of money. The residents criticized the bank for abandon-
    10 | FARMERS NATIONAL BANK
   ]]></page><page Index="15" isMAC="true"><![CDATA[ing specie payments – refusing to exchange their paper currency for gold and silver. This condition was very difficult for businessmen who had to buy their wares from distant eastern port cities for, lacking a truly national currency, the paper money of small and dis- tant banks was heavily discounted. In all probability, the currency of the Danville Branch Bank would lose as much as half its value at New Orleans and Philadelphia, which meant that the already high cost of goods was increased further by currency problems.
However, the Branch Bank of Danville continued to be the only bank in the town for another quarter century. By the late 1820’s and in the early and middle 1830’s, the nation once more recovered its economic vitality and slowly but surely another period of boom developed. The westward movement continued unabated, land values inflated, new farms and plantations were carved out of the wilderness sending a growing flood of products into the market, and new industrial concerns were built without any understanding of the inexorable laws of supply and demand. Thus by 1836, despite government efforts to curtail the boom, the nation was on the eve of another depression and the Panic of 1837 broke the spiral of prosperity. No doubt the officers of the Branch Bank of Danville were again the center of criticism.
The management of the Danville Branch Bank was criticized in the 1840’s for its support of the Whig candidates for the presidency – and, thus, for a much more conservative approach to the development of the western country. One local democrat, in 1884, accused the directors of the bank of prejudice against local Democrats claiming that they refused to make loans to any except known Whigs. These charges were made by the district’s Congressman, George C. Caldwell. His charges were refuted by Captain Samuel Daviess of Harrodsburg, a Democrat, and Charles Bloomingdale of Danville, a Whig, both directors of the bank. They claimed that the limitations of the bank’s funds made it impossible to make loans to every applicant. Whatever the feeling toward the bank, it was without competition until 1854.
Gabriel Rice, a native of Garrard county, moved with his brother to Danville in 1815. They established a large factory for the manufacture of hemp into bagging and rope. The two severe depressions which followed and the growing competition from European and eastern factories caused the closing of this plant in 1839. In 1840, Gabriel Rice became the teller of the Branch Bank and held this post until 1853 when he became the cashier of the newly founded Central Deposit Bank of Danville. He held this post until 1864 when the bank was re-chartered and re-organized as the Central National Bank and opened its
      THE FIRST 140 YEARS | 11
    ]]></page><page Index="16" isMAC="true"><![CDATA[doors in 1865. Rice then opened a private bank in Danville which he operated until 1878, when he retired from business at the age of 84.
The first new post-war bank in Danville was the First National Bank which became, in 1885, the Citizens National Bank. The bank provided Danville with expanded credit and service and with the Rice Bank and the reorganized Central Bank, there were three credit and loan institutions for residents. The Central National Bank being the older of them had the largest assets amounting to $595,000 by 1871. Its president was Clifton Rodes and the directors included Colonel John Cowan, R. W. Graham, Joseph H. Thomas, R. P. Jacobs, Charles E. Bowman A. G. Talbott, I. P. Hisher, W. L. Caldwell, and Reuben Gentry. The direct management of the bank was in the hands of J. W. Proctor, who was also the agent of the Aetna Insurance Company.
The First National Bank was presided over by G. W. Welsh, a successful merchant since 1852. Directors included James Kinnaird, Ormond Beatty, President of Centre College, A. R. McKee, physician and stock/bond dealer, J. J. Craig, W. I. Monroe, and Lewis Mock, distiller. It was the Republican Bank of Danville, and in the bitter post war years, these po- litical distinctions meant a great deal to depositors. E. L. Shackleford served as the cashier of the institution and supervised the use of its $356,000 assets.
The years after the Civil War are booming as far as the national economic growth
was concerned – railroads were rapidly consolidated and expanded, business mergers began the foundation of giant corporations in the production of iron and steel, oil, communication and many other fields. It was a period of progress when Danvillians were interested in the building of industry and in the connection of the city by railroad to the outside world. Despite the Panic of 1873, which introduced another period of depression and debt liquidation the local banks grew to over a million dollars – the Central Bank had assets of $710,000 and the First Bank $376,000. The former bank added new directors by 1875 – Dr. G. W. Givens and Peter T. Gentry; the later bank adding Thomas McRoberts to its board. The same presidents and cashiers continued in office.
Those citizens associated with the control of the local banks were deeply involved in every project for the improvement of the town – they worked for the building of a new hotel, for providing the right of way to assure the building of the Cincinnati-Southern Railway into town, for the establishment of a gas works, and of course they aided in the expansion of the educational and cultural institutions of Danville. J. W. Proctor, cashier of
    12 | FARMERS NATIONAL BANK
   ]]></page><page Index="17" isMAC="true"><![CDATA[the Central National Bank, also served as president of the Danville Gas Light Company, in 1883. The influence of the bankers led the city government into investing $5,000 in the stock of the gas company.
R. P. Jacobs had become the president of the Central Bank and M. J. Farris of the First Bank. The officers and directors of the latter bank had changed much in 1883 with J. A. Quisenberry becoming cashier, and J. A. Cheek, assistant cashier, and C. T. Armstrong, J. L. Bruce, Samuel Harding, J. W. Harlan, and R. L. Salter, new directors.
In 1879, a third national bank was formed after the Rice Bank closed. It was named the Farmers National Bank with J. G. Cecil, president, G. W. Welsh, Jr., cashier, and the board of directors comprised of J. G. Cecil, C. P. Cecil, G. W. Welsh, A. R. McKee, J. C. Caldwell, D. W. Jones, C. H. Rodes, Thomas McRoberts, J. K. Sumerall, Jr., J. W. Weatherfad and Nelson Wingate. This bank had assets by 1883 of $335,000. The total assets of the Danville banks had increased nearly fifty percent after 1879 to $1,500,000.
In 1885, the charters of the First and Central banks expired, and new charters were secured, and the assets of the banks transferred to the new companies. The Citizens National Bank replaced the First with M. J. Farris continuing as president, J. A. Quisenberry as cashier, and the same board of directors. The Central Bank was renamed the Boyle National Bank with R. P. Jacobs still president. J. W. Proctor as cashier, and the same board of directors with two exceptions – Nick McDowell and Boyle O. Rodes were added.
In 1886, the opportunity for investment in the expanding town was led by J. W. Proctor, Samuel Harding, C. N. Smith, J. S. Chrismen, W. W. Ellis, and Samuel G. Boyle to organize the Central Kentucky Building and Loan Association with capital of $100,000. During the year twelve new residences were built and Danville’ first apartment house, the Harding Flats – all at an investment of $51,000. The officers of the new firm were Charles N. Smith, as President, James R. Marrs, secretary, Henry G. Sandifer, treasurer, and the directors were J. W. Proctor, G. W. Welsh, Jr. Samuel G. Boyle, R. P. McGoodwin and Samuel Lyons.
The local banks were somewhat disturbed that year by the failure of the Fidelity Bank
of Cincinnati where each kept on deposit funds which were lost. The assets of the three banks were diminished by a quarter of a million dollars during 1887. In 1888, J. W. Proctor busily engaged in many activities. He resigned as cashier of the Boyle National Bank (after twenty-five years of service) to join in a partnership with a sewing machine business.
      THE FIRST 140 YEARS | 13
    ]]></page><page Index="18" isMAC="true"><![CDATA[In 1893, M. J. Farris, J. C. Caldwell, and R. P. Jacobs were still presidents respectively of the Citizens, Farmers National Bank, and Boyle National Bank. When a list of the leading tax payers of Boyle County was published that year, J. C. Caldwell was paying on proper- ty valued at $162,000 and Morris J. Farris on property worth $117,000 and were listed as the wealthiest of Danville’s citizens.
The banks continued to grow as business of the country and the county expanded. The opportunities to finance new businesses, the electric company, telephone company, and railways in Danville expanded the horizons of the bankers.
In 1909 as trusts and investment banking expanded throughout the country, the Boyle National Bank was reorganized as the Boyle State Bank and Trust Company, with I.T. Lanier, as its president. The Farmers National Bank very soon also organized, as a subsidi- ary concern of the Bank, a trust division. This new sort of organization enabled bankers to invest depositors’ money in speculative activities. With an ever-increasing flood of stocks and bonds coming into the market, as companies were merged and holding companies organized, a new stock broker opened an office in Danville --- Colonel W. P. Walton.
The Kentucky Bankers Association had its annual meeting in Danville in 1909 and
the local bankers were the hosts. In 1914, the outbreak of the first world war provided new profits of bankers and their depositors as both industrial and agricultural activities boomed. Danville being an important railway center and an important agricultural market town enjoyed great prosperity. The same leaders of the banks remained in office and M.
J. Farris, J. C. Caldwell, and I. T. Lanier saw their institutions grow – the total assets of the four banks had grown to $3,998,000. The Boyle State Bank and Trust Company in 1920 invested $50,000 in a new bank building from its profits.
The 1920’s saw the revival of prosperity after the brief recession of 1920-21. The local banks continued to expand their activities and assets during the frenzied financing of the 1920’s. In 1929, the depression hit and although there was some concern about the local banks, they all survived and were certified after the inauguration of Franklin D. Roosevelt, as solvent and reopened after the bank holiday. The depression years retarded further growth and it as not until after 1939 that the local banks began to expand once more.
The banking houses of Danville have shown a longevity unmatched by any other of the city’s private institutions. Farmers National Bank may be traced back in an unbroken
    14 | FARMERS NATIONAL BANK
   ]]></page><page Index="19" isMAC="true"><![CDATA[history to the Branch Bank of Danville which was established in 1815. This small bank with a few thousand dollars in assets was reincorporated as the Central Deposit Bank of Danville in 1853, through reorganization in 1865 it became the Central National Bank, again reorganized in 1885 as the Boyle National Bank; and in 1909 as the Boyle State Bank and Trust Company. Boyle State Bank and Trust Company continued through the dark days of the depression following 1929 until it was, in 1943, absorbed by the Farmers National Bank.
 Griffin, Richard. Newspaper Story of a Town – 1963-64 - A History of Danville, KY – The Advocate Messenger. 1965. Pages 83-89
Special Note* Farmers National Bank and Boyle Bank and Trust were each able to pay semi-annual dividends as high as seven percent all through the 1930‘s. *Brown, Richard. A History of Danville & Boyle County, Kentucky. 1774-1992. Page 107.
      THE FIRST 140 YEARS | 15
    ]]></page><page Index="20" isMAC="true"><![CDATA[ FINANCIAL HIGHLIGHTS
WITHIN THE UNITED STATES AND BOYLE COUNTY, KENTUCKY 1960 to 2019
The 1960’s are a time the entire nation sees inflation rise. Congress charters The Federal National Mortgage Association (Fannie Mae) to assist low, moderate, and middle-income families to buy homes. The FDIC deposit insurance limit increases from $15,000 to $20,000. ATMs are installed, for the first time, in New York at New York’s Chemical Bank; the installation marks the first use of magnetically encoded plastic.
The 1970’s are a period of rising interest rates and introduction of several banking acts and polices are introduced by Congress. An automated clearing house is created to
clear checks, called (ACH) Automated Clearing House. Congress charters the Federal Home Loan Mortgage Association to provide capital to finance U.S. housing. The Home Mortgage Disclosure Act of 1975 (HMDA) encourages banks to lend mortgage money to low income areas. Congress passes the Community Reinvestment Act (CRA) of 1977, directing banks to meet the credit needs of their communities, including low income areas. The International Banking Act of 1978 is introduced to regulate established opera- tions and control of foreign banks in the U.S.
The 1980’s farm crisis left a deep mark on the nation. This farm crisis still ranks as
one of the worst global credit disasters in history. It had an impact on all banks across the United States. It was the worst downturn in farming since The Depression. After the boom in demand for wheat ended, many farms faced ruin. Agricultural banks and makers of farming equipment were heavily impacted. These types of closures impacted many communities.
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]]></page><page Index="21" isMAC="true"><![CDATA[ From 1980 – 1994, banks closing in the United States reflected 1,617. Fortunately for Kentucky banks, this only involved seven banks and none of those banks were in Boyle County.
Additionally, back on the national scene, Americans start to experience the longest bull market in history in the 1990’s.
During 1994, the following banks operated within Boyle County: Farmers National Bank; The Bank of Danville & Trust Company (which closed in 1996); Bank One; Central Kentucky Federal Savings & Loan Association; and Great Financial Federal.
During the 2000’s, banks started to decline nationally, but the number of their branches increased. Interest rates are low and there is a housing boom.
Banks operating by 2004 within Boyle County included: Farmers National Bank; National City Bank; Central Kentucky Federal Savings & Loan Association; Heritage Community Bank; Bank One; Peoples Bank of Kentucky and U.S. Bank National Association.
The 2008 financial crisis hits hard. It leads to failure of a large number of banks once again, within the United States. The financial crisis was primarily caused by deregula- tion in the financial industry — permitting banks to engage in hedge fund trading with derivatives. Banks then demanded more mortgages to support the profitable sale of these derivatives. These banks created interest-only loans that became affordable to subprime borrowers.
During the period of 2008 to 2012, the FDIC closed 465 failed banks within the United States. In contrast, in the five years before 2008, only 10 banks failed. Once again, Kentucky banks come out of this crisis reporting only two banks failing. None of these banks were in Boyle County.
Ten years later, by the year of 2014, banks in Boyle County included: Farmers National Bank; First Federal Savings Bank of Frankfort; PNC Bank; Bluegrass Community Bank; Community Trust Bank; JP Morgan Chase Bank; PBK Bank; U.S. Bank National Association; Farmers Bank & Capital Trust Company and Woodforest Bank (which operated inside of the local Walmart store).
       THE FIRST 140 YEARS | 17
    ]]></page><page Index="22" isMAC="true"><![CDATA[By the year 2018, the landscape of banks within Boyle County had, once again, changed. Farmers National Bank is listed as the only locally owned community bank operating within the county. Other financial institutions operating included PNC
Bank (corporate office in Pittsburgh, PA); Community Trust Bank (corporate office
in Pikeville, KY); J. P. Morgan Chase Bank (corporate office in New York, NY); First Federal Savings Bank of Kentucky (corporate office in Frankfort, KY); Bluegrass Community Bank (acquired by Monticello Banking Company during the year, corpo- rate office in Monticello, KY); PBK Bank, Inc. (corporate office in Stanford, KY); U. S. Bank National Association (corporate office in Minneapolis, MN) and Woodforest Bank (corporate office in The Woodlands, TX).
 Source – fdic.gov. – An Examination of the Banking Crisis of the 1980’s & Early 1990’s. History of the 80’s – Lessons for Future. Chapter 1.
fdic.gov – Historical Timeline
Farmers National Bank controlled over 50 percent of the market share within Boyle County, as of June 2018. Each of the competing banks reflected below 10 percent in their share of the market.
Source – Federal Deposit Bank Insurance. fdic.gov
    18 | FARMERS NATIONAL BANK
   ]]></page><page Index="23" isMAC="true"><![CDATA[                                                                                                                                                                                                                                                                                                                                      THE FIRST
140 YEARS
FARMERS NATIONAL BANK
1879 – 2019
A TIMELINE
      THE FIRST 140 YEARS | 19
    ]]></page><page Index="24" isMAC="true"><![CDATA[        ]]></page><page Index="25" isMAC="true"><![CDATA[Farmers National Bank Opened Its Doors on February 10, 1879 First Quarters Were Rented
Stockholders Were 64 Prominent in Boyle County, Kentucky
Once Upon a Time - February 10, 1879 - The Farmers National Bank of Danville was authorized by the Comptroller of the Currency to begin business. Although days and weeks of planning and organizing had taken place, this date in 1879 really marks the
beginning of the bank in its service to the public.
When the bank opened for business it had no home of its own. It used rented quarters at 304 W. Main Street, Danville, Kentucky. Eight years later it acquired and occupied, for a period of another 50 years, this same building which was called the old red brick Whitley Building.
The stockholders, at a meeting in Odd Fellows Hall, on January 8, 1879, selected the name of the new institution. The capital was fixed at $100,000, with the privilege of it being increased to $500,000.
On the list of stockholders were 64 separate subscriptions carrying the names of individuals prominent in business (commercial and agricultural) life in Boyle County and Central Kentucky. Mr. J. G. Cecil, the bank’s first president, headed the list with
a subscription of 50 shares. Four other men, Granville Cecil, trustee; G. W. Welsh,
Jr.; A. R. McKee and D. W. Jones were each a subscriber for a like number of shares. Following Mr. Cecil was J. C. Caldwell subscribing for 36 shares, and along with the list was the name of Samuel Lyons, who took one share. Not very long afterwards
Mr. Lyons became one of the bank’s largest stockholders owning 75 shares of the bank’s capital stock, at the time of his death. Even the fraternal orders of the day were interested in the new bank, as the Knights of Pythias, appearing on the roster, as a subscriber for two shares.
From this list, the stockholders at the January 25, 1879 meeting, in the Odd Fellows Hall, chose eleven directors. Directors selected included J. G. Cecil and G. W. Welsh,
      THE FIRST 140 YEARS | 21
     ]]></page><page Index="26" isMAC="true"><![CDATA[ Original 1879 Vault (Farmers National Bank, 304 W. Main Street, Danville Kentucky)
Jr., as president and cashier, respectively, to pilot the new institution. A little later in Dr. McKee’s office, the directors made G. W. Welsh, Sr., vice president and J. H. Engleman, teller. These four individuals constituted the first official family of bank officers for Farmers National Bank.
The first board of directors included J. G. Cecil, C. P. Cecil, Thomas McRoberts, G. W. Welsh, C. H. Rodes, A. R. McKee, J. C. Caldwell, D. W. Jones, J. K. Sumerall, J. W. Weatherfad and Nelson Wingate.
    22 | FARMERS NATIONAL BANK
   ]]></page><page Index="27" isMAC="true"><![CDATA[     1879
TIMELINE
Farmers National Bank opens in Danville, Kentucky with J. G. Cecil, serving as President and G. W. Welsh, Jr., Cashier. The first board of directors consisted of
J. G. Cecil, C. P. Cecil, G. W. Welsh, A. R. McKee,
J. C. Caldwell, D. W. Jones, C. H. Rodes, Thomas McRoberts, J. K. Sumerall, Jr., J. W. Weatherfad and Nelson Wingate. The capital investment is listed at $100,000. Bank assigned Charter #2409.
   1880
J. G. Cecil
1st President Farmers National Bank 1879 - 1881
As of June 30, 1880, Farmers National Bank assets are listed at $292,303 and capital at $100,000. G. W. Welsh, Jr., is listed as the
bank’s Cashier.
     1881
Statement of Condition, June 1880
Thomas McRoberts
2nd President Farmers National Bank 1881 - 1883
      THE FIRST 140 YEARS | 23
    ]]></page><page Index="28" isMAC="true"><![CDATA[     1883
Total assets of Farmers National Bank are $335,000. Jere C. Caldwell is appointed President.
  1887
3rd President, Farmers National Bank 1883 - 1919
Map research thru The Library of Congress (Sanborn Fire Insurance Company 1886) confirms that the first home for Farmers National Bank, Danville, Kentucky, is listed as 304 W. Main Street. Bank management rented this property (The Whitley Building) from February 10, 1879 until it purchased the building, in 1887.
Sanborn Fire Insurance Map
Jere C. Caldwell
     24 | FARMERS NATIONAL BANK
   ]]></page><page Index="29" isMAC="true"><![CDATA[   1899 Boyle Bank & Trust Company reflected assets of $436,057 and
capital stock totaling $100,000. Officers are Richard Gentry, President; J. T. Huguely, Vice President; H. G. Sandifer, Cashier and J. M. Wallace; Assistant Cashier.
Farmers National Bank of Danville
1899 $5 National Bank Note Signed by
J. C. Caldwell, President & G. W. Welsh, Cashier
   1900 Farmers National Bank assets are listed at $551,648 and capital is $135,534.
  Copy of October 13, 1900 Farmers National Bank Check written by Director C. P. Cecil.
Boyle Bank & Trust Company Statement of Condition, December 1899
      THE FIRST 140 YEARS | 25
    ]]></page><page Index="30" isMAC="true"><![CDATA[ 1906 Farmers National Bank Home Safety Box
  1908
 Farmers National Bank assets are listed at $663,822.
Farmers National Bank – Statement of Condition – February 1908
  1909
 As trusts and investment banking expanded throughout the country, the Boyle National Bank was
reorganized as the Boyle State Bank and Trust Company, with I. T. Lanier, as its president. The Farmers
National Bank very soon also organized as a subsidiary concern of the bank, a trust division. This new
unit within the organization enabled bankers to invest depositors' money
in speculative investment activities. Assets listed on the bank’s books are over $558,000.
            26 | FARMERS NATIONAL BANK
     ]]></page><page Index="31" isMAC="true"><![CDATA[  1913
1917
1920
1921
G. W. Welsh, Cashier 1879 - 1921
Under the leadership of Jere C. Caldwell, President; C. P. Cecil, Vice President; G. W. Welsh, Cashier and F. N. Lee, Assistant Cashier, the bank grew to reflect assets of over $896,000, on December 31, 1913.
Farmers National Bank’s Trust Department is incorporated, on September 5, 1917. For the first time in the history of the bank, assets of the bank reached $1,180,748.
       Boyle Bank & Trust invested $50,000 in a new bank building.
After more than 40 years of leadership, G. W. Welsh, Cashier, retires from Farmers National Bank. In his letter of resignation, he states,
“he endeavored to give my best services to make Farmers National Bank the best dividend paying and largest deposit institution in the area.”
Bank assets are listed at over $1,318,188.
George A. McRoberts
4th President Farmers National Bank 1920 - 1923
           Farmers National Bank Tellers - 1921
          THE FIRST 140 YEARS | 27
     ]]></page><page Index="32" isMAC="true"><![CDATA[  J. C. Caldwell, Jr.
5th President Farmers National Bank 1923 - 1936
1923 Board of Directors and shareholders name J. C. Caldwell, Jr., President
1924 Newspaper advertisement featured in the Advocate
Messenger on April 16, 1924 read — Farmers National
Bank “Danville’s Million Dollar Bank”. Ad stated — with a clientele embracing every line of business and a board of directors composed of leaders in every branch of industry, the Farmers National Bank has an unusually intimate knowledge of the needs of its customers and is able, ready and willing to grant them every accommodation
consistent with sound banking and
welcomes the opportunity to do so.
           1929 Early in 1929, President J. C. Caldwell outlines a plan to the
board of directors for remodeling
the present quarters of the bank and a plan for employees to purchase stock in the institution. Assets are listed at $1,639,835.
Farmers National Bank of Danville Series of 1929 $20 National Bank Note signed by J. H. Robinson, Cashier & J. C. Caldwell, President
  1930 The Great Depression, a worldwide economic downturn, hits the U.S. in late 1929 and lasts until about 1939. It is the longest and most severe depression experienced by the U.S. Its social and cultural effects are staggering. Many banks fail because they made loans to stock market speculators that are never repaid. As the Depression eases into a national emergency, reaching its height between
1932 and 1933, the U.S. government establishes several agencies as a means for discharging new and emergency functions. The Federal Deposit Insurance Corporation (FDIC) is one of the new agencies.
Despite the depression years, Farmers National
Bank and Boyle State Bank were able to pay semi-annual dividends as high as seven percent all through the 1930's.
28 | FARMERS NATIONAL BANK
                  ]]></page><page Index="33" isMAC="true"><![CDATA[    J. F. Robinson
6th President Farmers National Bank 1936 - 1937
1937 Farmers National Bank builds a new bank building, on Main Street,
in Danville, at cost of $100,000. M. Carlisle Minor begins his tenure as the seventh President of Farmers National Bank.
Farmers National Bank, 1937 7
M. Carlisle Minor
7th President Farmers National Bank 1937 – 1967 Chairman of the Board & President 1968 – 1969
Chairman of the Board 1970 – 1974
        Dates 1879 & 1937 ar
r
e
e
 engraved in the brick
k
.
s
s
.
   Farmers National Bank Statement of Condition,
June 1938
          THE FIRST 140 YEARS | 29
       ]]></page><page Index="34" isMAC="true"><![CDATA[ Boyle Bank & Trust Company Statement of Condition, December 1939
 Farmers National Bank Statement of Condition, December 1939
    30 | FARMERS NATIONAL BANK
   ]]></page><page Index="35" isMAC="true"><![CDATA[ Boyle Bank &
Trust Company Statement of Condition, December 1942
 Farmers National Bank Statement of Condition, December 1942
      THE FIRST 140 YEARS | 31
    ]]></page><page Index="36" isMAC="true"><![CDATA[ Courier-Journal March 30, 1943
 Boyle Bank & Trust Company General Ledger, 1943
    32 | FARMERS NATIONAL BANK
   ]]></page><page Index="37" isMAC="true"><![CDATA[  1943 Boyle Bank & Trust
1943 On March 27, 1943, Farmers National Bank acquired the assets ($1,882,634) of Boyle
Bank and Trust Company. J. W. Irvine was listed as President and J. R. Letcher, as Cashier, at the time of the purchase. Boyle Bank and Trust Company was known locally as “The Friendly Bank”.
Farmers National Bank Statement of Condition, December 1943
  Boyle Bank and Trust Company’s
history dated back to pre-civil war days, as it originally opened in 1854,
as the Central Deposit Bank of Danville. A total of 2,433 account owners reflected on the books with eight employees, at the time of the acquisition. Through this transaction, Farmers National Bank virtually doubled its assets overnight.
The Boyle Bank and Trust building was purchased later that year from Farmers National Bank by The Central Kentucky Building and Loan Association for $20,000. In same letter executing the purchase, Central Kentucky Building and Loan Directors voted Farmers National Bank remain as the depository for its funds.
      THE FIRST 140 YEARS | 33
    ]]></page><page Index="38" isMAC="true"><![CDATA[     1950 Farmers National Bank's building on Main Street, in Danville, is enlarged and remod- eled, at a cost of $100,000.
    1957 Officers & Directors Listing & Statement of Condition
1957 Farmers National Bank lists assets of $6,717,499 and capital of $200,000. Bank employs 20 full time staff members and six of those members are listed as officers with M. C. Minor, President.
1959 Farmers National Bank provides Danvillians with their first drive-in bank- ing facility located on Walnut Street (Walnut Street Branch). Cost of new addition is $75,000. Officers are: M. C. Minor, President; H. L. Guthrie, Vice President and Trust Officer; and Maurice E. Wilson, Cashier. The directors of the bank are: J. Clemens Caldwell, W. P. Caldwell, Joe G. Davis, C. E. Edmiston, H. L. Guthrie, S.
A. Hill, J. W. Irvine, Pierce Lively, M. C. Minor, J. Lee Murphy, Lewis N. Neale, Jr., J. B. Nichols, Jr., J. H. Robinson, English Sullivan and D. K. Albright. Bank assets are listed at $8,000,000.
                    34 | FARMERS NATIONAL BANK
       ]]></page><page Index="39" isMAC="true"><![CDATA[   1967 The Board of Directors of Farmers National Bank
approved the renovation of the bank’s building on Main Street, in Danville, at a cost not to exceed $200.000, including construction, fixtures and furnishings. Assets of the bank are listed at $11,672,019.
1968 The trust department of Farmers National Bank shows
healthy growth reporting managing investment assets of over $6,000,000 during 1968. Additionally, bank’s books reflect the assets of the bank are listed at $13,883,418.
Farmers National Bank - Statement of Condition, December 1963
     Farmers National Bank
Statement of Condition, December 1968 & 1967
Farmers National Bank,
304 W. Main Street, Danville, KY - 1968
               THE FIRST 140 YEARS | 35
           ]]></page><page Index="40" isMAC="true"><![CDATA[      1970 Robert L. Shoulty is employed as eighth President of Farmers National Bank. Mr. Shoulty served as the bank’s President from 1970 until 1979. Assets are listed at $15,174,852.
Special Note: Management and bank employees celebrated with Mr. Shoulty on his 100th birthday, in April of 2005. He later passed away in August of 2005.
1971 Farmers National Bank’s Trust Department reports another
outstanding growth year. Department is managing over $11,000,000 in investment assets under management.
1974 Farmers National Bank’s closes out the year with assets
of $25,126,884.
Special Note: The bank’s seventh
President, M. Carlisle Minor
(1937-1969) passes away during
the year. Mr. Minor was elected
President in 1937 and continued
to occupy that position until 1969.
He also served as Chairman of
the Board from 1970-1974. He
became a director of the bank in
1919 and continued, as a director,
until the date of his death. Additionally, James Robinson, Director Emeritus, passed away. “Mr. Jimmie”, as he was known to many, retired several years ago after serving many years in a management position with Farmers National Bank.
Robert L. Shoulty
8th President Farmers National Bank 1970 - 1979
     Memorial Letter – Annual Report of 1974
    36 | FARMERS NATIONAL BANK
   ]]></page><page Index="41" isMAC="true"><![CDATA[ Farmers National Bank Statement of Condition, December 1975
1975 Bank continues record growth and profitability. Earnings from operation
reflected $398,975, before
security transactions,
a 6.7% increase from
previous year. Total
assets were $27,295,352.
During the bank’s annual
meeting, the board voted
for a stock split of 10 for 1 increasing the number of shares authorized and outstanding from 2,000 to 20,000 and changing the par value per share from $100 to $10. Total capital stock of $200,000 remained the same. The bank’s Trust Department continues to grow and expand. Trust income for the
year is listed at $97,679, a 7.73% increase over the previous year.
    1976 1976 FNB "Run" Expansion on Bank
      THE FIRST 140 YEARS | 37
    ]]></page><page Index="42" isMAC="true"><![CDATA[     1977 Farmers National Bank opened two addition- al bank branches during the year - Danville Square and Greenleaf branch. Year-end reflected assets totaling $34,648,000; loans totaling $20,106,000 and net income at $296,500. The book value of stock exceeded $116.00 per share. There were 41 staff member
employed with the bank.
The Bank suffered loss of two dedicated officers during the year. Sara Wilmot, Assistant Cashier had served both Boyle Bank and Farmers National Bank during her lifetime. Tevis Hundley, Vice President & Trust Officer, had served many years in the trust department for Farmers National Bank.
1978 Main office renovation of Farmers National Bank is completed at 304
W. Main Street, at cost of $750,000. An (ATM) automated 24-hour teller machine, first of its kind in this area, is installed at the bank’s main office. The bank’s Trust Department shows strong performance with an increase in assets under management. Gross fees increased 30% over the previous
year. Assets are listed at $37,169,000; capital $2,575,000 and book value of bank stock is $128.75. Net income for the bank is $322,000. The bank has 46 full time employees. Annual report for the bank is entitled – The Growers for 100 Years.
    r
s
s
    38 | FARMERS NATIONAL BANK
                ]]></page><page Index="43" isMAC="true"><![CDATA[ Bank Building & Locations,1979
1979 On February 10, 1979, Farmers National Bank celebrates 100th anni-
versary. Approximately 3,000 friends and customers attend day long open house. Assets are $39,131,000 and total capital or shareholders' equity is listed at $3,017,000. Robert L. Shoulty, who served the bank as Executive Vice President from 1966 until 1970 and as President beginning 1970, retires on December 31, 1979.
1980 Nelson D. Rodes, Jr. is employed on January 1, 1980, as the bank's ninth President. Bank purchas- es an adjoining parcel of real estate to allow for improved traffic access at Walnut Street Branch along with plans to renovate the branch building. The decade of the 1980’s starts an era of great change and challenge for financial institutions within the country. As a result of the deregulation laws adopted by Congress in March of 1980, competition will increase between banks and savings and loan associations, with the latter now being permitted to offer interest bearing checking accounts, consumer and commercial loans. Total assets for the bank are listed at $45,920,000 and capital is listed at $3,329,000.
Community and bank suffered loss of two gentlemen during the year. C. E. Edmiston served as a bank direc- tor from 1950 – 1980 and Joe Horky 1980 – 1981.
Nelson D. Rodes, Jr.
9th President Farmers National Bank 1980 – 1984
President & CEO 1985 – 1995
Chairman of the Board 1995 – 1997
             THE FIRST 140 YEARS | 39
    ]]></page><page Index="44" isMAC="true"><![CDATA[   1981 Expansion and remod- eling of Walnut Street
Branch is completed. An additional drive-in lane, new roof and glass-en- closed front are added. New curving, attractive landscaping and a time/ temperature sign for
the Danville commu- nity is erected onto the property.
To provide for future space for the bank's bookkeeping and proof departments, the bank purchased the building located on West Main Street, adjoining the main banking office, on its west margin. Front of newly purchased building is rented as a retail store. Bank will complete remodeling of the rear of building for bookkeeping and proof departments.
Farmers National Bank Officers, 1981
New products introduced for the first time included interest-bearing check- ing accounts (NOW accounts), retail repurchase agreements (REPO's), and tax-free certificate of deposits (All Savers Certificates). Also, bank is market- ing newly introduced IRA (Investment Retirement Accounts) accounts.
Assets are listed at $54,427,000 and total capital is listed at $3,770,000.
    40 | FARMERS NATIONAL BANK
   ]]></page><page Index="45" isMAC="true"><![CDATA[ Certificate of Stock Merger Boyle Bancorp, 1983
1983 At a special meeting of shareholders, stockholders
voted for the merger of Farmers National Bank with a newly formed subsidiary, Boyle Bancorp, Inc. (a hold- ing company). As a result
of this merger, shareholders of the bank received for their bank shares an equal number of shares of Boyle Bancorp, Inc. stock.
1984 The local economy is benefiting from new
and expanded industrial development, especially within the industrial park section of the county. Boyle Bancorp list assets at $76,686,000 and capital at $5,968,000.
1985 Farmers National Bank completes enlargement of
Danville Square Branch
providing two additional
teller lanes as well as a
canopy covering the auto
transaction area. Total
assets of bank are listed at $86,936,000. Book value of bank stock reflects $175.50 per share. Changes in ownership of financial institutions continues
       1984 Farmers National Bank Officers & Directors
      THE FIRST 140 YEARS | 41
    ]]></page><page Index="46" isMAC="true"><![CDATA[ Farmers National Bank Staff, 1985
rapidly as a result of mergers and acquisitions. This year witnessed the purchase of the Old Bank of Perryville and its merger into The Bank of Danville. In addition, the Citizens National Bank in Danville was purchased by a Lexington, Kentucky based multi-bank holding company. As a result of these mergers and acquisitions, The Farmers National Bank remains the only locally owned and operated bank principally located in Boyle County.
  1986 Farmers National Bank opens new full-service branch facility (Perryville Branch) in the Perryville community of west Boyle County, on December 15, 1986. An open house and celebration enthusiastically attended by more than 900 people. Total assets of bank are listed at $101,268,000. Once again, this year witnessed the sale of one of the two banks located in Harrodsburg, Kentucky and both of the formerly local owned banks in Lancaster, Kentucky. The Board of Directors of Farmers National Bank is committed that in the
best interest of share- holders and the local communities that Farmers National Bank remain a locally owned
and controlled financial institution. This should be a significant factor
in the continuing successful enter- prise of Farmers National Bank.
Perryville Ribbon Cutting Ceremony ,1986
                  42 | FARMERS NATIONAL BANK
            ]]></page><page Index="47" isMAC="true"><![CDATA[  1987 During 1987, the economic outlook facing the bank’s market area and the entire state and nation remains somewhat cloudy. However, problems fac- ing the agricultural economy seen to have bottomed out and the outlook for local agriculture appears somewhat brighter. Nationally, the chronic problems of the twin deficits, federal budget and foreign trade, continue
to burden hopes for continued strength in the domestic economy. Despite these problems, Farmers National Bank had another successful year. At the bank’s Annual Meeting, Elizabeth G. Nickels was elected to the bank’s board. Mrs. Nickels is a practicing attorney in Danville and partner in the firm of Silliman, Dishman and Nickels.
Farmers National Bank and the entire Danville/Boyle County community suffered a great loss with the death of Lewis N. Neale, on June 18, 1987. Mr. Neale had faithfully served as a Director of Farmers National Bank from 1944 until his death this year.
1988 1988 was a difficult year for many areas of the
financial services industry. The banking industry
continued to record large number of bank failures
since the depression of the 1930’s. However, most
of these failures were confined to the southwestern United States. The brighter side of the picture is that the financial institutions in Kentucky for the most part emerged stronger than ever. In particular, Boyle Bancorp, Inc. and its wholly owned subsidiary, Farmers National Bank once again achieved new highs in total assets, total capital and net income for the year. And, for the first time in the history of Farmers National Bank, the capital of the bank exceeded $10,000,000, ending the year at $10,489,000.
Also, during the year, the bank's holding company repurchased from share- holders 470 shares of capital stock at a price of $300 per share. These repur- chases were pursuant to a policy of the holding company Board of Directors to provide a market for the corporation's stock in excess of book value and to acquire treasury stock for any future needed corporate purposes.
   Lewis N. Neale Director, 1944 - 1987
              THE FIRST 140 YEARS | 43
           ]]></page><page Index="48" isMAC="true"><![CDATA[    1989 Farmers National Bank
celebrates 110th Anniversary on February 10, 1989, with an open house
The Advocate Messenger, January 8, 1989
for bank cus-
tomers. In the
management
report letter to the stockholders, the
growth of Farmers National Bank is
listed for the past decade, as follows:
Total assets increased from $39,131,000 to $116,315,000, an increase of 197.24%. The capital account of the corporation increased from $3,017,000 to $11,784,000, an increase of 290.59%. Net income increased from $329,000 to $1,731,000, an increase of 426.14% and dividends paid to shareholders increased from $2.00 to $10.00 per share, an increase of 400%. The book value of the corporation's capital stock increased from $75.43 to $300.08 per share.
1990 Farmers National Bank acquires Citizens Bank & Trust Company of Burgin, Kentucky, its first venture outside of Boyle County, on November 30, 1990. This was a cash transaction for the sum of $2,438,262. The book value of the stock acquired was $2,116,497. With this acquisition, Farmers National Bank becomes a multi-bank holding company. Citizens Bank and Trust Company will be called the Burgin Branch of Farmers National Bank. Also, during this same month, a new full-service banking facility opened on South Fourth Street. It will be known as the South Danville Branch of Farmers National Bank. An open house was held
on December 2, 1990 and was enthusiastically attended by more than 700 guests of the bank. Also, remodeling started on the building located at 308 West Main Street that will connect to the main bank to provide much needed additional space for banking facilities downtown. The front
      44 | FARMERS NATIONAL BANK
   ]]></page><page Index="49" isMAC="true"><![CDATA[ of the building is restored to the Victorian architec- tural style in keeping with the downtown restoration efforts encouraged by the Heart of Danville organi- zation and the Kentucky Heritage Commission.
At year-end total assets were $140,663,000 and net income was $1,853,000. Dividends paid to share- holders were listed at $12.00 per share. Book value of bank stock is listed at $335.33.
Citizens Bank & Trust
Company of Burgin,
Kentucky, may be traced
back to the Farmers Bank of Burgin, organized in 1896. The Farmers Bank of Burgin’s tagline was – The Bank That Backs the Farmer.
1992 A sharp decrease in short-term interest rates (resulting from the lowering of the discount rate by the Federal Reserve Bank) caused bank net inter- est margins to increase which also contributed to improved net income for the banking industry. At the annual shareholders’ meeting, Louis Prichard is elected a director of the bank to replace retiring bank director William Balden.
At year end, total assets at Farmers National Bank were $160,377,000 – an increase of 3.46% and net income was $2,354,000 – an increase of 13.12%. The book value of Boyle Bancorp stock reaches $418.04.
Citizens Bank & Trust Company Burgin & South Danville Branch
        THE FIRST 140 YEARS | 45
    ]]></page><page Index="50" isMAC="true"><![CDATA[  1993 At the annual shareholders meeting, Dr. Chris S. Jackson, Jr. and Doug Little were elected to the Board of Directors replacing Maurice Wilson, who passed away, and retiring director Dr. Louis J. Beto. Also, during this year, two long-term management employees elected to retire: James D. Thompson, Senior Vice President for Marketing and Business Development, 33 years of service and Helen Rankin, Vice President for Commercial Loan Administration, 32 years of service.
Assets are listed at $172,089. Book value of bank stock is listed at $488.39.
Farmers National Bank and the local community of Danville/Boyle County suffered a great loss in early 1993, with the untimely death
of Senior Vice President, Maurice E. Wilson. At the time of his death, Mr. Wilson was the longest tenured member of the bank staff – having served continuously for 37 years, beginning as a bookkeeper in 1956 and later serving as a teller; Cashier; Vice President in charge of lending; Senior Vice President and Director.
Maurice Wilson Served Farmers National Bank 1956-1993
1994 Farmers National Bank receives regulatory
    approval to construct a
new full-service facility at
the intersection of U.S.
Highway 127 and Legion
Drive in Harrodsburg.
This branch will be called
the Harrodsburg Branch.
In order to expand the
bank's main office in
Danville, bank officials
purchased the former Masonic Lodge building which adjoins the main office of the bank on South Third Street. After consultations with the Heart
Masonic Lodge Building, 1994
    46 | FARMERS NATIONAL BANK
   ]]></page><page Index="51" isMAC="true"><![CDATA[  Assets are listed as $186,453,000. Bank reports 25 for 1 stock split.
1995 July 1, 1995, Louis Prichard assumes the office of President and Chief Executive Officer of Farmers National Bank. Mr. Prichard becomes the 10th President in the history of the bank. The bank opens the new full-service banking facility in Harrodsburg, (Harrodsburg Branch) in September 1995. Assets of the bank are listed at $192,154,000.
Louis Prichard
10th President & CEO Farmers National Bank 1995 - 2002
of Danville Association and the Kentucky Heritage Commission, bank's project manager and archi- tect, the decision was made to completely restore the existing structure and convert to banking use. Bank moved all lending functions and trust depart- ment operations into the new expansion.
    Farmers National Bank South Danville Branch Bank Robbery,
January 5, 1995
            T
140 YEARS | 47
TH
HE
EF
FI
IR
RS
ST
T
1
         ]]></page><page Index="52" isMAC="true"><![CDATA[  1996 FNB Opens Student Bank
For the first time in Farmers National Bank’s history, total assets exceeded $200,000,000 and net income for the corporation exceeded $300,000,000. Total assets of bank are listed at $203,441,000.
Harold Horn Farmers National Bank Director, 1981-1996
During late 1996, the bank suffered loss of bank director, Harold Horn. Mr. Horn had served as director of the bank since 1981.
1996 At the bank's annual meeting in April, 150 stockholders of Farmers National Bank attended a luncheon and tour the expansion and renovation of the main banking facility. Work is underway to add an additional drive- up lane and automatic teller machine at the Greenleaf Shopping Center office (Greenleaf Branch). With the completion of this project, Farmers National Bank now has four full-service branch offices, two each in Boyle and Mercer Counties, and three additional drive-up offices in Boyle County to complement the main office location in Danville. Expansion and reno- vation of the main street banking office in Danville completed this year, as well. The bank develops and launches website on World Wide Web – The Internet – opening new opportunities for customer access to bank and financial products.
         4
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         ]]></page><page Index="53" isMAC="true"><![CDATA[  Rodes & Webb, 1997
Special Note: In the 1997 Letter to Stockholders the following excerpt was taken: “Our asset and earnings growth over the past seventeen years reflects Nelson’s able leadership. The banking industry as a whole encountered a great deal of change over those years, and thanks to Nelson’s outstanding abilities we have dealt with those changes successfully. Your company is a strong, secure independent bank, and it enjoys a fine reputation not only in our market area, but throughout the state. Much of this is due to Nelson’s leadership for which we are extremely appreciative.”
Robert H. Webb, Senior Vice President & Chief Operating Officer retires on August 31, 1997. Mr. Webb had been employed with the bank since 1957.
New financial products introduced included: Business Manager Program, Internet Marketing on the World Wide Web, Fixed and Adjusted Rate Mortgages, Credit Life Insurance and FNB "CheckCard" (debit/ATM card). Automated clearinghouse and electronic operations are growing sig- nificantly at bank. Bank introduces a Foundation Account and a Freedom account (packaged checking accounts). In the trust division, Cornerstone Investment Management Account and PrimeVest are introduced.
Renovations are completed at Greenleaf Branch, South Danville Branch and Danville Square Branch. New ATM's are added at Perryville Branch, Greenleaf Branch and Burgin Branch.
During this year, the bank reached record highs in both assets and net income. Additionally, the book value per share and the dividends paid to share- holders reached new highs. At year end, total assets were $218,581,000, net income was $3,620,000. Shareholder’s equity increased to $27,370,000. The book value of bank stock is listed at $27.71. Bank staff included 95 full time and part-time employees.
1997 Nelson D. Rodes, Jr., Chairman of Board and employed by Farmers National Bank since 1980 retires on June 30, 1997.
 THE FIRST 140 YEARS | 49
          ]]></page><page Index="54" isMAC="true"><![CDATA[  1998 Farmers National Bank completes remodeling work at Danville Square Branch and Walnut Street Branch. Farmers National Bank received regula- tory approval from the Office of the Comptroller of the Currency to open a new branch at Daniel Drive and Southtown Drive, off the Danville By-Pass. This new branch will be called the Southtown Express and includes plans for facility to be a seven-lane drive-in bank.
In a newspaper press release, Louis Prichard, President and CEO of the bank, stated, "The Southtown Express facility is being built to accommodate more easily those customers who wish to perform quick transactions such
as cashing a check, or making a deposit. Additionally, we believe this will offer relief to those people who use our South Danville Office on Hustonville Road and find it difficult to deal with the heavy traffic issues at that site."
Bank assets are listed at $233,506,000.
1999 Southtown Express opens at 224 Southtown Drive, on January 26th while the entire banking organization celebrates the bank’s 120th Anniversary on February 10th. Approximately 150 women from Boyle, Garrard, Lincoln and Mercer counties attend the 4th Annual “Women’s Day” entitled “Money-Smart Women” in the bank’s main office ballroom. Farmers National Bank and employees commit to the America’s Promise Campaign formed by General Colin Powell, to assist the country in pointing a child in the right direction. New and updated “Express” signage installed for Walnut Street Express, Greenleaf Express and Danville Square Express to reflect “Express Banking”. The bank’s management and staff gear up with training and plans for the Year 2000 date change. Bank assets at year-end are listed at $249,009,000.
      50 | FARMERS NATIONAL BANK
   ]]></page><page Index="55" isMAC="true"><![CDATA[    F
mers National
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the national economy is definitely slowing down with a chance of
a recession, the management of Farmers National Bank moved forward
to implement the banks strategic plans for the future. In May of 2000, the Junction City Express opened at 101 Shelby Junction Lane. Technology continued to become very important to the bank, its staff and customers and Internet Banking was introduced in mid-year. At year-end 2000, Farmers National Bank had banking locations in Boyle and Mercer counties with customers accessing banking services at 14 ATM’s within the two counties. Telebanc (a telephone banking service) was another successful alternative the bank’s customers may utilize in order to have 24-hour-a-day, 7 days-a-week communications with their bank. Total assets were posted at $256,562,000, net income was $4,158,000 and stockholder’s equity was listed at $33,315,000.
Hughes Jackson, Jr., who served as a bank director from 1973-1984; and, as an advisory director from 1985 until this year, passed away.
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         THE FIRST 140 YEARS | 51
    ]]></page><page Index="56" isMAC="true"><![CDATA[  2001 Two major factors contributed to a highly unusual year. First, the devastating events of September 11, 2001 had a “life changing” impact on the entire country. Those events changed how we viewed our personal lives, our business lives and most assuredly how we viewed our country’s place relative to the rest of the world. In addition, the recession that existed during that year had a significant influence on the banking world as well. The downturn, which began in early 2001, and the unprecedented, eleven Federal Reserve cuts in short term rates made 2001 truly a difficult year for most community banks. The drop in Federal Funds rate from 6.5% to 1.75% and the simultane- ous 4.50% drop in the Prime Rate caught most off guard.
In May of 2001, in keeping with the bank’s long-range Strategic Plan
to create a full-service investment brokerage operation, FNB Financial Services opened on Main Street, next door to the bank. At the end of that year, FNB Financial Services employed three full time employees.
During the year of 2001, Boyle Bancorp, Inc. reached a record high in assets, equity, net income and dividends paid. At the close of business on December 31, 2001, the bank listed assets at $307,252,000. Much of this increase came in the new area of investments. Net income increased from $4,158,000 to $4,209,000, a 1.22% increase, while stockholder’s equity increased from 3.93% from $33,315,000 to $34,626,000. The stock’s book value was $36.84 per share at year-end, an increase of 6.59%. The dividend paid increased from $1.80 to $2.20, an increase of 22%.
Bank and community suffer loss of two former directors and advisory directors of the bank. William “Bill” Balden, Jr., Director of bank from 1971-1991 and ad- visory director from 1992-2001 and Louis Jr. Beto, Jr., Director from 1976-1992 and advisory
director from 1993-2001.
Bank Robbery Farmers National Bank – Perryville, November 16, 2002
        52 | FARMERS NATIONAL BANK
       ]]></page><page Index="57" isMAC="true"><![CDATA[     2002 Louis Prichard, who served the bank ably as loan officer, Executive Vice President and as President since 1995, decided to return to his hometown of Paris, Kentucky. Upon Mr. Prichard’s resignation, the Board of Directors named bank director, Jerry Germann, as Chairman of the Board. Additionally, Greg Caudill, an employee since 1981 and Senior Lending Officer since 1995, was named the institu- tion’s eleventh President.
Greg Caudill
11th President & CEO Farmers National Bank 2002 – 2015
Bank management purchases property at 211 East
Main, in Danville, for the purpose of building a new
banking facility downtown. This new banking facility
shall be called East Main Express. During this year, it was also determined that the Walnut Street Branch, the oldest branch, was not large enough to continue to satisfy the sizable number of customers who rely on it. This loca- tion was torn down and the space was designated as much needed customer and employee parking for the bank. Additionally, it was determined that the South Danville Express was being over utilized as a transactional facility and under-utilized as a full-service location. Therefore, plans were developed to
build the new downtown branch of suitable size to accommodate a larger number of customers. The new East Main Express opened for business on October 28, 2002. In a very short period of time, it became one of the busiest branches.
Also, in early 2002, property was purchased in Lincoln County for a full-service banking facility at 131 Cane Run Road. This facility shall be called the Stanford Banking Center. Bank plans called for this Lincoln county location to become operational during the first quarter of 2003.
Assets are listed at $325,684,000. Stockholders’ equity at $37,495,000 and net income for the bank is $4,126,000.
CEO, 2016 to Present
                  THE FIRST 140 YEARS | 53
                ]]></page><page Index="58" isMAC="true"><![CDATA[  2003 In January 2003, grand opening was held at the Stanford Banking Center on 131 Cane Run Road. Farmers National Bank had 10 financial loca- tions within Boyle, Mercer and Lincoln counties. During 2003, the bank achieved assets of $327,794,000, loans were listed at $203,405,000 and stockholder’s equity of $37,781,000.
  Farmers National Bank Opens Stanford Branch The Advocate Messenger, January 30, 2003
       54 | FARMERS NATIONAL BANK
   ]]></page><page Index="59" isMAC="true"><![CDATA[  2004 Farmers National Bank celebrates 125th Anniversary, as a locally owned financial institution. In the letter to shareholders, President Caudill writes:
“For a century and a quarter your bank has been a leading provider of financial services in this area. The management team is dedicated to making sure that this tradition continues for many years to come. Accordingly, the theme for the annual report is entitled - Continuing the Tradition.”
Twenty-five years ago, as Farmers National Bank celebrated its 100
years of existence, the bank’s total
assets were $39 million, and share- holders’ equity was $3 million. Since that date the bank’s asset total grew
approximately nine times and shareholders’ equity increased over 12 times.
During the year FNB Financial Services changed its name to the Farmers Financial Management Group.
Total assets at the end of the year were a record $340,000,000 and the bank’s capital exceeded $38,000,000.
2005 The main office of the bank completed renovations to housed additional space needs for the Farmers Financial Management Group staff and lending staff within the loan department. Total assets at year- end were listed at $372,742,000 and bank’s capital exceeded $39,950,000.
       Two long time leaders of the bank pass away during the year: D. K. Albright, Director of Bank from 1966-1997
and Boyle County Advisory Director from 1998-2005 and Robert Shoulty, President and Director from 1967-1979 and Boyle County Advisory Director from 1980-2005.
D. K. Albright
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       THE FIRST 140 YEARS | 55
    ]]></page><page Index="60" isMAC="true"><![CDATA[   2006 Farmers National Bank achieved record high
numbers in total assets
($398 million), net income
($6.1 million), earnings per
share ($5.50 per share), and
dividends paid to share-
holders ($2.90 per share).
Construction begun on
new expanded Harrodsburg
Banking Center. This new
facility will be large enough
to handle customers
wanting traditional banking
services (loans and depos-
its) as well as those who
have need of non-tradition-
al banking products (trust,
brokerage and insurance).
Land was purchased in
Garrard County for construction of a banking facility in Lancaster. This facility will be called the Lancaster Banking Center.
2007 Harrodsburg Banking Center opened on May 10th. A ribbon cutting cere- mony attended by many people within the community was conducted on June 1st. Additionally, a groundbreaking ceremony was held on May 30th for the new Lancaster Banking Center scheduled to open in early 2008. Greg Caudill, President and CEO writes to the shareholders in the 2007 Annual Report, “As we look forward to 2008 we have much for which to be thankful. We are thankful for our strong capital position, the continued growth in our asset base and our presence in an area with a relatively stable economy.” At year-end 2007, bank reported assets at $440,150,000, net loans listed at $320,823,000 and deposits were listed at $320,565,000.
Harrodsburg Groundbreaking, 2006
      56 | FARMERS NATIONAL BANK
   ]]></page><page Index="61" isMAC="true"><![CDATA[  Lancaster Groundbreaking, 2007
Harrodsburg Grand Opening, 2007
 “A Tradition Built on Relationships” was the Farmers National Bank’s motto for many years. That phrase was embodied in the life and spirit of J. Clemens Caldwell, who passed away during 2007. He was literally a life time director of the bank. Mr. Caldwell served as a Director from 1963-1989 and as Advisory Director 1990-2007.
      THE FIRST 140 YEARS | 57
    ]]></page><page Index="62" isMAC="true"><![CDATA[       Farmers National Bank Burgin Bank Robbery August 29, 2007
     58 | FARMERS NATIONAL BANK
   ]]></page><page Index="63" isMAC="true"><![CDATA[  2008 On February 19, 2008, the bank opened Lancaster Banking Center near Pleasant Retreat Shopping Center, in Lancaster. This full-service facility is similar in both size and style to the Harrodsburg Banking Center. The facility offered loan and deposit products as well as brokerage and other financial
services. In Harrodsburg, Colton Drive Express
opened on April 21st. This facility was located near several industrial
employers and the new Mercer County High
School campus. With these two new open- ings in 2008, Farmers
National Bank offered banking locations in
four counties. Also, during the year, Farmers Financial
Management Group, the bank’s trust unit,
changed its name to FNB Financial Group. And, the
bank’s full-service brokerage service
which started out in 2001 offering stocks, bonds,
mutual funds, annuities and
some insurance products updated its name to FNB
Investment Services.
      THE FIRST 140 YEARS | 59
     ]]></page><page Index="64" isMAC="true"><![CDATA[     2009 On February 10, 2009, Boyle Bancorp, Inc. celebrated
the 130th anniversary of its charter.
In letter to stockholders written by President, Greg Caudill, he wrote:
“Over the course of the 130 years, the company has endured wars, a depression and several recessions while consistently maintaining its reputation as the preeminent financial institution in the area. It is management’s belief that Farmers National Bank is a reflection of the economic well-being of our trade area. As the largest community bank in the market, when our friends and neighbors grow and prosper we grow and prosper as well. When local people are financially challenged it is difficult for us not to feel their pain. As the “Great Recession” tightens its grip on our local economy we have had to significantly increase our Allowance
for Loan and Lease Losses. We more than doubled the size of this reserve during the last half of 2009. This is the main reason that we are showing
a slight net loss for the year. Another reason is the six-fold increase in our FDIC assessment which went from $127,000 in 2008 to $812,000 in 2009. Absent these two negative components impacting our operating statement, we would have had a very respectable year.”
At year-end 2009, bank assets were listed at $488,155,000, net loans listed were $330,045,000, deposits were $365,588,000 and stockholder’s equity reflected $44,788,000.
    60 | FARMERS NATIONAL BANK
   ]]></page><page Index="65" isMAC="true"><![CDATA[   2012 At year-end 2012, bank assets were listed at $477,227,000, net loans
listed were $269,692,000, deposits were $407,295,000 and stockhold- er’s equity reflected $52,537,000. Net income was $3,659,000.
Two long time leaders of the bank pass away during the year: Dr. Chris S. Jackson, Jr.; Director of Farmers National Bank 1993-2005 & Advisory Director 2006-2013 and Robert D. Thompson; Citizens Bank & Trust Company of Burgin 1950-1990 and Director of Farmers National Bank 1991-1998.
Farmers National Bank Staff in 2012
  2013 In early 2013, Farmers National Bank formed WealthSouth, as the rebranded trust entity that has been a part of the bank since 1909. Management also completed the acquisition of a wealth management unit in Bowling Green, Kentucky. The bank acquired the services of a group of individuals who shared bank management’s belief that commu- nity banking and wealth management are not mutually exclusive terms. These assets acquired should benefit the bank for many years to come as part of the bank’s long-term strategic plan to increase non-interest income. Additionally, later in 2013, the opening of a WealthSouth
office in Lexington was also accomplished. Net income for the bank was reported at $4,034,000.
       THE FIRST 140 YEARS | 61
    ]]></page><page Index="66" isMAC="true"><![CDATA[  2014 “Your Lifetime Bank” – Farmers National Bank’s new tagline was adopted
in celebration of the bank’s 135th Anniversary. From first savings account to retirement account, the bank’s product mix enabled the bank to serve its customers every step of the way. A snapshot of the Financial Highlights for the year revealed several areas of growth. Dividend paid to shareholders rose from $1.20 per share in 2013 to $2.00 per share in 2014, an increase
of 67%. This increase was possible due to the bank’s improved revenue and strong capital position. The split-adjusted book value of a share of the bank’s stock stood at $60.
Additionally, WealthSouth continued to perform very well and grow. This unit of the bank promoted providing families and businesses with financial
planning, trusts, investments, commercial banking and retire- ment plan services. The unit managed assets totaling over $1.3 billion.
At year-end 2014, bank assets were listed at $448,172,000, net loans listed were $283,039,000, deposits were $377,628,000 and stockholder’s equity reflected $54,885,000. Net income was $4,163,000.
A longtime leader of the bank, John B. Nichols, III. passed away during 2014. Mr. Nichols served as Director of Farmers National Bank from 1976-2000. He also served as Advisory Director 2001-2008.
     62 | FARMERS NATIONAL BANK
   ]]></page><page Index="67" isMAC="true"><![CDATA[  2015 The year 2015 was one of significant growth for Farmers National Bank. During a strategic planning session, the management team adopted the Farmers National Bank Championship Culture. This plan laid out a vision of the bank for as much as ten years into the future. A basic tenet of the Championship Culture was the belief that Farmers National Bank remain
a high performing bank. And, in order to accomplish this mission, that
the bank asset size must increase. With a large capital base affording that opportunity to explore acquisitions and expansions into markets which complement Farmers National Bank, this will become a major focus for the bank’s management team for the next several years.
At year-end 2015, bank assets were listed at $454,922,000, net loans listed were $290,566,000, deposits were $383,909,000 and stockholder’s equity reflected $56,001,000. Net income was $4,790,000. The book value of the bank’s stock reflected $62.64 per share.
     2016 At the Stockholders Meeting, in the Spring of 2016,
Marty Gibson was elected as the bank’s twelfth
President and Greg Caudill was named Chief
Executive Officer of Farmers National Bank. Also,
as part of the bank’s strategic plan, WealthSouth
continued to focus on staff additions in the Bowling
Green and Lexington markets. Construction started
on an additional bank branch office at the intersec-
tion of Hustonville Road and Danville By-Pass. The
bank made commitments for additional investments
in new technology. ITM’s (Interactive Teller
Machines) which allowed for efficiently serving customers who want a real
live teller access after-hours and remote deposit capture will make it possible to take deposits vir-
tually anywhere. Apple Pay, Samsung Pay, Mobile Deposit are all options that allow customers to use smartphones as mechanisms for payments.
Farmers National Bank Garland Drive Branch Groundbreaking, March 29, 2016
Marty Gibson
12th President Farmers National Bank 2016 – Present
               THE FIRST 140 YEARS | 63
        ]]></page><page Index="68" isMAC="true"><![CDATA[At year-end 2016, bank assets were listed at $477,608,000, net loans listed were $318,242,000, deposits were $405,744,000 and stockholder’s equity reflected $56,792,000. Net income was $5,126,000. The book value of the bank’s stock reflected $63.83 per share.
2017 Farmers National Bank opened its newest branch – Garland Drive, at the intersection of Hustonville Road and the Danville By-Pass, in Boyle County. This branch boasted a high-tech delivery system, including three ITM’s (Interactive Teller Machines) – called Teller on Demand. This futuristic style of banking along with the design of the building adds to the continued appear- ance of forward-thinking banking. The WealthSouth unit of the bank reflects strong growth. Marketing efforts focused on promotions to “Experience the Difference” with Farmers National Bank & WealthSouth.
At year-end 2017, bank assets were listed at $506,334,000, net loans listed were $349,871,000, deposits were $433,307,000 and stockholder’s equity reflected $58,095,000. Net income was $4,183,000. The book value of the bank’s stock
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     64 | FARMERS NATIONAL BANK
   ]]></page><page Index="69" isMAC="true"><![CDATA[  Landmark Trust Historical Plaque Dedication to Farmers National Bank,
March 7, 2018
2018
The year 2018 proved to be another year of significant growth for Farmers National Bank. The bank ended the year at $552,000,000 in total assets. And, the loan portfolio grew by more than $28,000,000 for the third year in a row. In terms of overall financial performance, the organization experienced a 23% increase in net income from previous year. Net income per share grew by $1.14 and dividends paid to shareholders increased to $2.68 per share. The bank’s capital remains strong with stockholder’s equity approaching $60,000,000. Book value of the bank’s stock reflected $68.63 per share.
In the bank’s shareholders letter written in the 2018 Annual Report, Greg Caudill, Chief Executive Officer and Marty Gibson, President, jointly wrote:
“Our bank is now the only locally owned bank in Danville, and one of just a few in our area. Several banks in our region have changed ownership
and names, which should provide us with new opportunities for organic growth. We are also actively looking for acquisition opportunities that meet our needs and fit our culture. Locally owned banks are an important part
of most every community. From countless volunteer hours by bank employees to significant monetary donations that support economic development and education, our communities depend on banks like us. However, many com- munity banks are overwhelmed by the amount of regulation or lack sufficient succession plans. This has led to greater than normal merger and acquisition opportunities and we intend to remain 'on the lookout' for deals that will enhance shareholder value.”
WealthSouth continues to grow and added additional personnel within its unit during the year. At year end, WealthSouth managed $2,030,383,781 in assets under management.
Also, during 2018, Farmers National Bank received recognition for historical preserva- tion within Danville and Boyle County by the Boyle Landmark Trust. Historical plaque presented to the bank and plaque erected on exterior of the building — front door entrance — 304 W. Main Street, Danville, KY.
 THE FIRST 140 YEARS | 65
                  ]]></page><page Index="70" isMAC="true"><![CDATA[During the year, James D. Thompson, a dedicated lifetime ambassador & mar- keter for the bank passed away. Mr. Thompson started his banking career in 1960 and continued in that role until his retirement during 1993 when he retired as the bank’s Senior Vice President of Marketing and Business Development. He also served as an active director of the bank from 1979 – 2004.
2019 In January 2019, WealthSouth, the trust management unit within Farmers
National Bank, received formal notifica- tion from the U.S. Patent & Trademark Office of the bank’s approval of trade- marking the name — WealthSouth.
As of February 10, 2019, Farmers National Bank is listed as the 9th oldest bank within Kentucky(out of 148 banks.) The bank ranked 23rd largest bank in asset size and the 24th largest bank in total deposits within the State of Kentucky. (Source - fdic.gov)
As part of Farmers National Bank’s 140th Anniversary Celebration, the organization hosted a “thank you” event at the Danville Community Arts Center. Attendees were invited to stroll through memory lane with Farmers National Bank historical relics dating back to 1879.
During the evening, Greg Caudill, CEO, of Farmers National Bank stated:
“Thanks to our loyal customers and community, Farmers National Bank has remained a strong, locally owned community bank committed to the pros- perity of those we serve. We are well positioned to continue to grow, remain innovative and meet the needs of the community.”
The bank pledged to continue its commitment to support economic development and education with the unveiling of more than $140,000 to various organizations during 2019, including the Boyle, Garrard, Lincoln and Mercer county school districts.
       66 | FARMERS NATIONAL BANK
   ]]></page><page Index="71" isMAC="true"><![CDATA[                                                                                                         140th Anniversary Community Celebration, 2019
      THE FIRST 140 YEARS | 67
    ]]></page><page Index="72" isMAC="true"><![CDATA[                                                                               68 | FARMERS NATIONAL BANK
   ]]></page><page Index="73" isMAC="true"><![CDATA[                                                                                                       THE FIRST 140 YEARS | 69
    ]]></page><page Index="74" isMAC="true"><![CDATA[                                                                                                                                70 | FARMERS NATIONAL BANK
       ]]></page><page Index="75" isMAC="true"><![CDATA[                                                                                                   THE FIRST 140 YEARS | 71
        ]]></page><page Index="76" isMAC="true"><![CDATA[                                                                                                            72 | FARMERS NATIONAL BANK
   ]]></page><page Index="77" isMAC="true"><![CDATA[ FARMERS NATIONAL BANK
HISTORICAL BANK ARCHIVES
Researched & Displayed at Farmers National Bank During 140th Anniversary Year
]]></page><page Index="78" isMAC="true"><![CDATA[  2019 Vault Treasure Hunters
• 1879 Silver Dollar
• Original stockholders book dated 1879
• Original Farmers National Bank Deed dated 1887 on property purchased at 304 W. Main St., Danville, KY
• Organizational book of the bank 1879 - 1918
• Daily Statement Books from 1900 - 1909
• Timer “Key” to the first bank vault of 1879
• Various anniversary mementos from bank’s
25th; 35th; 50th; 75th; 100th; 105th; 110th; 120th; 125th; and 135th Anniversaries.
• Copy of Series 1929 - $20 National Bank Note signed by J. C. Caldwell of Farmers National Bank
• Copy of 1899 Farmers National Bank $5.00 National Bank Note signed by
J. C. Cecil
1879 Farmers National Bank Vault Closed
• Documentation of “Founding of the Bank” - original newspaper article – Interior Journal dated 01-11-1879
• 1880 Statement of Condition
• A detail listing of information on the bank in 1879 including capital and stockholders list
• Check dated in the year 1900 signed by C. P. Cecil — Son of bank’s first President
          74 | FARMERS NATIONAL BANK
     ]]></page><page Index="79" isMAC="true"><![CDATA[• Heavy steel — Home Savings Box from 1906 with bank’s name on
it — made by W. F. Burns Company, in Chicago, IL — & newspaper advertisement featuring the 1906
Home Savings Box
• Three original journals owned by
G. W. Welsh, Cashier
• Loan check signed by G. W. Welsh – dated February 10, 1914 to G. J. Doram
• Tiny bifocal glasses found on floor in bank’s first vault
• Medical bag from 1930’s & Federal Reserve money bags & brass bank
desk lamp
• “Bread” Box with lock from J. G. Cecil — descendant’s estate
• Handwritten family & bank letters dating back to 1893 & 1896
1879 Timer Key to First Bank Vault
• Various personal financial documents within boxes dated 1893 – 1930
• Night deposit bags; matches, cups; leather money clips, coin bag, All American City license plate from Danville in 1968
• M. C. Minor original photo; pages from annual reports; 1970’s Farmers National Bank belt buckle; “We are Growers” bank license plate & can opener from 1970; money bag; green money box and first FNB ATM card from 1978
    1879 Bread Box
      THE FIRST 140 YEARS | 75
    ]]></page><page Index="80" isMAC="true"><![CDATA[  1879 Trunk
• Farmers National Bank Trust Department Origi- nation papers from 1917
• Small trust book dated 1919
• Original Trust seal and imprint of seal
• 1981 Mail Postage Scale
• Various Farmers National Bank and Boyle Bank logo statement envelopes
• 1912 Washington One Cent Stamp
• 1919 Washington Two Cents Stamps
• Lighted – “Farmers Bank” Christmas Bank
• Trust Ledger of Boyle Bank & Trust 1932-1943
• Boyle Bank & Trust Company Articles of Incorporation & Minutes, 1909-1943
• Farmers National Bank Agreement to Buy; Dis- solution & related papers
• Boyle Bank & Trust Seal & imprint
• Boyle Bank & Trust checks
• Boyle Bank Stock Certificate from 1943
• Stamp of Boyle Bank & Trust
• Metal bank tin box with various bank books from 1940’s
• Purchase of Burgin Bank & Trust; newspaper articles and various photos
• FNB Piggy bank; clock, 140th thermos; ink pen
& historical calendar from 140th celebration and Community Invitation
to bank’s anniversary celebration
• 1950’s briefcase with “money necktie” inside of the briefcase - ($500 and $1,000 bills imprinted on necktie)
• 1959 Boyle County Farm Directory — Directory
lists active farmers in
Boyle County in 1959. Their name, address, approximate acreage in the farm and the map location of the property.
    76 | FARMERS NATIONAL BANK
   ]]></page><page Index="81" isMAC="true"><![CDATA[  1887 Deed to
Farmers National Bank
1914 Doram Loan Check
• 1964 City Directory o,f Danville, KY
• 1948 Southern Railway
System Wages & Pay Scales
for Engineers, Firemen, Conductors, Brakemen, Freight Trainmen and Baggagemen
• 1970, 1971 and 1972 — Farmers National Bank Leather Telephone Note Pad
• 1980 'Farmers National Bank "Almanac"
• 1792-1942 Danville Observance — Kentucky Sesquicentennial Official Souvenir Program
• 1964 "Festival of the 15th Star" Program, Danville, KY
             THE FIRST 140 YEARS | 77
      ]]></page><page Index="82" isMAC="true"><![CDATA[ FARMERS NATIONAL BANK PRINTED MONEY
1 1 18 8 8 7 7 7 9 9 9 - - - 1 1 19 9 9 3 3 3 5 5 5
The Farmers National Bank of Danville, in Kentucky, printed $2,218,160 dollars of national currency. Over $1,000,000 face value is a lot of money. However, some types and denominations of currency from this bank could still be rare. This national bank opened in 1879 and stopped printing money in 1935. That is considering a long operation period for a national bank. During its life, The Farmers National Bank of Danville issued 14 different types and denominations of national currency. Examples of the types printed are listed below. Your bank note should look similar. Just the bank name will be different. For the record, The Farmers National Bank Of Danville was located in Boyle County, Kentucky. It was assigned charter number 2409.
Series of 1875 $10 National Bank Note
The Farmers National Bank Of Danville, in Kentucky, printed 6,578 sheets of $10 series of 1875 national bank notes. A print range between
5,000 and 10,000 is a pretty high number. But you have to remember we are talking about bank notes from the 1870s and 1880s. Even banks with high issue numbers could be rare today. The two vignettes seen on 1875 $10 bank notes are “Franklin and Electricity” and “America Seizing Lightning”. These notes occasionally confuse novices because the year 1752 is printed on them. That is when Benjamin Franklin discovered electricity. It has noth- ing to do with when these bank notes were issued. The back of each $10 bill has “DeSoto Discovering the Mississippi.”
78 | FARMERS NATIONAL BANK
]]></page><page Index="83" isMAC="true"><![CDATA[   Series of 1875 $20 National Bank Note
The Farmers National Bank Of Danville printed 6,578 sheets of $20 series of 1875 national bank notes. The exact number of series of 1875 $20
national bank notes printed by this bank is good to know. Don’t expect a high number to lower the value or a small number to increase the value. These notes are scarce enough on their own that the stats don’t really matter. Twenty dollars was a lot of money be- tween 1875 and 1901, which is the time period in which these were printed. These just weren’t saved in high numbers.
Series of 1882 $5 Brown Back
The Farmers National Bank Of Danville also printed 2,000 sheets of $5 1882 brown back national bank notes. That sheet output number
is small. Don’t expect too many of these to be available. You can take the total number of sheets printed and multiply that number by four to get the exact number of 1882 $5 brown back bank notes this bank issued. Each note has a portrait of James Garfield on the left-hand side of the bill. These are very popular with collectors because they have different text layouts. Some notes are worth as little as a few hundred dollars, but most are worth a good deal more.
Series of 1882 $10 Brown Back
The Farmers National Bank Of Danville also printed 5,800 sheets of $10 1882 brown back national bank notes. A print range between
5,000 and 10,000 suggests that there should be at least a couple of notes known to exist. There were three $10 bills printed on a single sheet of 1882 brown backs. The design of the bill is similar to all earlier ten-dollar national bank notes. The nickname comes from the fact that these bills have a brown seal and brown overprint. Despite saying series
         THE FIRST 140 YEARS | 79
    ]]></page><page Index="84" isMAC="true"><![CDATA[of 1882, these were actually printed by some banks up until 1908. The date you see in cursive relates to when the bank first started issuing brown back notes.
Series of 1882 $20 Brown Back
The Farmers National Bank Of Danville also printed 5,800 sheets of $20 1882 brown back national bank notes. As you can see, the sheet
output is the same for $20 brown backs as it is for $10 brown backs. There was only one $20 brown back printed on a sheet. The sheet output also equals the total note output. One neat thing about all brown backs is that they each have a different back design based on which state issued them. The back-left hand side of the note shows the state seal of which ever state the national bank was located in. Generally speaking, 1882 $20 brown backs are pretty difficult to locate. They typically were printed in small numbers and they don’t have a great survival rate.
1882 Blue Seal $5 National Bank Note
The Farmers National Bank Of Danville also printed 1,265 sheets of $5 1882 blue seal national bank notes. 1882 blue seals are
traditionally not the most popular national bank notes. However, when we are talking about such a low print number, these become much more desirable. 1882 $5 blue seal bank notes were issued by some national banks in The United States. While these are a somewhat rarer issue, they just aren’t especially popular with collectors. With exception of some minor differences, they look exactly like the earlier brown back series. Most collectors would prefer the brown back notes. With that said, some 1882 blue seals can still be worth thousands of dollars.
      80 | FARMERS NATIONAL BANK
   ]]></page><page Index="85" isMAC="true"><![CDATA[ 1882 Blue Seal $10 National Bank Note
The Farmers National Bank Of Danville also printed 9,390 sheets of $10 1882 blue seal national bank notes. That is a pretty standard
sheet output number for these issues. Most of the value is going to be in the condition. All of these notes say series of 1882, but they were actually printed between 1908 and 1921. They aren’t quite as old as the dates might suggest. There is also a date on these notes that is between 1888 and 1901. That date is written in cursive text and it represents when the bank was chartered or re-chartered. Some of the so called 1882 value back notes have a chance to be really rare. Most of the earlier notes that say 1882-1908 on the back are likely going to be relatively common. The designs are exactly the same on the front. Each has a blue seal and charter number.
1882 Blue Seal $20 National Bank Note
The Farmers National Bank Of Danville also printed 9,390 sheets of $20 1882 blue seal nation- al bank notes. That is the same number of sheets
as the ten-dollar denomination. You don’t have to multiply by three to get the exact number of notes issued though. There was only one twenty-dollar bill per sheet. As with any nation- al bank note, the exact value is still based on the condition, serial number, and bank of issue.
1902 $20 Blue Seal National Bank Note
The Farmers National Bank Of Danville also printed 14,405 sheets of $20 1902 blue seal national bank notes. The same rarity rules for
1902 $10 blue seals also apply to $20 blue seals. Just remember that $20 bills are by nature three times rarer (unfortunately they don’t command a premium over other denomina- tions). Hugh McCulloch is pictured on the front of each bill.
        THE FIRST 140 YEARS | 81
    ]]></page><page Index="86" isMAC="true"><![CDATA[ 1902 $10 Blue Seal National Bank Note
The Farmers National Bank Of Danville also printed 14,405 sheets of $10 1902 blue seal national bank notes. Once a bank prints more
than 10,000 sheets of blue seals it becomes very difficult for those notes to be rare. 1902 $10 blue seal bank notes all have a portrait of William McKinley on them. Values can range from as little as $40 up to over $10,000. There are at least ten different factors than can make some 1902 $10 blue seals worth more than others.
Series of 1929 Type1 $10 National Bank Note
The Farmers National Bank Of Danville also printed 3,156 sheets of Type1 1929 $10 na- tional bank notes. That is a pretty typical sheet
output for a national bank during the small size era. Each $10 bill from 1929 has a portrait of Alexander Hamilton on it. The black number written vertically is the charter number. The charter number never affects the value; it is just an identifier. The ten-dollar type1 national bank note happens to be the single most common national bank note.
Series of 1929 Type1 $20 National Bank Note
The Farmers National Bank Of Danville also printed 790 sheets of Type1 1929 $20 national bank notes. This is a small print range. Andrew
Jackson is featured on the front of each 1929 $20 bill. Be sure to take note of the serial num- ber on your specific bank note. If it is 000001 then you can expect a nice premium. There is a special market for serial number one bank notes. Of course, even if the number isn’t #1, it could still be collectible and have a high value just based on its condition and rarity alone.
      82 | FARMERS NATIONAL BANK
   ]]></page><page Index="87" isMAC="true"><![CDATA[ Series of 1929 Type2 $10 National Bank Note
The Farmers National Bank Of Danville also printed 3,999 individual notes from the type2 1929 $10 national bank note series. That may
seem like a high number; but, remember that is total notes printed for the denomination, not sheets printed. The easiest way to spot the difference between type1 1929 $10 bills and 1929 type2 $10 bills is in the serial number. Type2 notes have a serial number that ends with a number. 1929 type1 notes have a serial number that ends with the letter A. Generally speaking, these $10 bills are rarer than the earlier type1 issues.
Series of 1929 Type2 $20 National Bank Note
The Farmers National Bank Of Danville also printed 1,003 individual notes from the type2 1929 $20 national bank note series. That may
seem like a high number; but, remember that is total notes printed for the denomination, not sheets printed. One of the great things about 1929 type2 $20 national bank notes is that they really aren’t that old, and some can be extremely rare. Until the big head $20 series started there really wasn’t much difference between something printed in 1929 and the same bill printed in 1993.
Source – googlebooks.com & antiquemoney.com
       THE FIRST 140 YEARS | 83
    ]]></page><page Index="88" isMAC="true"><![CDATA[ FARMERS NATIONAL BANK
RETIREES
1980 to 2018
We honor and recognize the following individuals for excellent past service and their dedication and work to build Farmers National Bank to the outstanding bank we all know today.
Below is a list of retiring employees (1980 thru December 2018) and the year they retired along with number of years they were employed at Farmers National Bank.
2018
Debbie Bartley
28 Years of Service
Charlotte Wise
18 Years of Service
2017
Patty Overing
24 Years of Service
Tom Poland
19 Years of Service
Dale Cinnamon
4 Years of Service
2015
Debbie Lowe
41 Years of Service
Gwyn Montgomery
12 Years of Service
Faith Ramey
12 Years of Service
2014
Lana Bradshaw
28 Years of Service
Judy Adams
21 Years of Service
2013
Judy Carpenter
45 Years of Service
2012
Melda Caldwell
27 Years of Service
Jeffrey J. Thornton
20 Years of Service
Marsha Hurst
14 Years of Service
84 | FARMERS NATIONAL BANK
]]></page><page Index="89" isMAC="true"><![CDATA[ 2011
Geraldine Crowe
39 Years of Service
Mort Hoagland
38 Years of Service
Charlotte Caldwell
27 Years of Service
Pam Krupp
14 Years of Service
Judy Glasscock
12 Years of Service
Billy Vance Lanham
6 Years of Service
Linda Young
6 Years of Service
2010
Pat Short
40 Years of Service
Sue Anderson
36 Years of Service
Martha McCloud
31 Years of Service
Gary Noel
4 Years of Service
2009
Laura Moberly
25 Years of Service
Lisa Burke
20 Years of Service
Tony Robinson
13 Years of Service
Larry Royalty
7 Years of Service
Flem Messer
4 Years of Service
2008
Faye Hankla
26 Years of Service
2007
Katy Bozarth
24 Years of Service
Linda Gustafson
8 Years of Service
Judy Gilbert
6 Years of Service
2005
Eugene Robinson
30 Years of Service
Janie Grant
16 Years of Service
Linda Irvin
10 Years of Service
Fred Oliver
5 Years of Service
             THE FIRST 140 YEARS | 85
    ]]></page><page Index="90" isMAC="true"><![CDATA[2004
Linda Hall
23 Years of Service
Beverly Sanders
21 Years of Service
Bobby Carpenter
19 Years of Service
2003
Jonnetta Lear
43 Years of Service
John E. Lear
36 Years of Service
Dorothy Jarboe
33 Years of Service
Sue Phillips
28 Years of Service
Mary Jo Smith
25 Years of Service
Rilda Edgington
19 Years of Service
Don Carney
10 Years of Service
1999
Anna Ingram
24 Years of Service
Betty Foley
9 Years of Service
1997
Robert H. Webb
40 Years of Service
Elaine Elder
33 Years of Service
Nelson D. Rodes, Jr.
17 Years of Service
1993
James D. Thompson
33 Years of Service
Helen Rankin
32 Years of Service
1991
Emma Kimberlin
40 Years of Service
1990
Ruth Smock
44 Years of Service
1989
Nan McCowan
30 Years of Service
1988
Mary Kelty
26 Years of Service
C. T. Mayfield
21 Years of Service
1986
Myrtle Royalty
22 Years of Service
1980
Virginia Wesley
27 Years of Service
Joe Rimstidt
21 Years of Service
               86 | FARMERS NATIONAL BANK
   ]]></page><page Index="91" isMAC="true"><![CDATA[ FARMERS NATIONAL BANK
HISTORY OF BANK PRESIDENTS, CEOs & CHAIRMEN OF BOARD
1st President 2nd President 3rd President 4th President 5th President 6th President 7th President
8th President 9th President
10th President 11th President
12th President
J. G. Cecil
Thomas McRoberts Jere C. Caldwell George A. McRoberts J. C. Caldwell, Jr.
J. F. Robinson
M. C. Minor
Robert Shoulty Nelson D. Rodes, Jr.
Louis Prichard Greg Caudill
Marty Gibson
1879 – 1881 1881 – 1883 1883 – 1919 1920 – 1923 1923 – 1936 1936 – 1937
1937 – 1967 1968 – 1969 1970 – 1974
1970 – 1979
1980 – 1984 1985 – 1995 1995 – 1997
1995 – 2002
2002 – 2015 2016 – Present
2016 – Present
President President President President President President
President
Chairman of the Board & President Chairman of the Board
President
President
President & CEO Chairman of the Board
President & CEO
President & CEO CEO
President
1879 to February 10, 2019
THE FIRST 140 YEARS | 87
]]></page><page Index="92" isMAC="true"><![CDATA[ FARMERS NATIONAL BANK
BANK DIRECTORS
D. K. Albright
1965 – 1995
* John Albright
1997 – To Present
C. R. Anderson
1888 – 1920
W. C. Anderson
1920 – 1954
William H. Balden
1971 – 1991
Louis J. Beto
1976 – 1992
* Louis M. Beto
2005 – To Present
Charles W. Caldwell
1937 – 1952
F. Fox Caldwell
1919 – 1932
& 1936 – 1946
1879 to February 10, 2019
J. C. Caldwell
1879 – 1922
J. C. Caldwell, Jr
1922 – 1936
J. Clemens Caldwell
1963 – 1989
Logan Caldwell
1934 – 1962
* Robert Caldwell
1989 – To Present
W. P. Caldwell
1943 – 1970
* Greg Caudill
1996 – To Present
C. P. Cecil
1879 – 1924
James G. Cecil
1879 – 1882
J. Rice Cowan
1901 – 1954
James A. Curry
1880 – 1883
Joe G. Davis
1959 – 1981
Helen Dedman
2001 – 2014
G. W. Dugan
1894 – 1907
C. E. Edmiston
1950 – 1980
Harry Richard (Dick) Faulkner
2003 – 2015
J. N. Frankel
1969 – 1976
Julian Gentry
1943 – 1957
88 | FARMERS NATIONAL BANK
]]></page><page Index="93" isMAC="true"><![CDATA[ Jerry M. Germann
1976 – 2014
* Logan Germann
2014 – to Present
* Marty Gibson
2016 – to Present Date
Henry Guthrie
1947 – 1977
S. A. Hill
1943 – 1966
* Hugh Gates Hines, III.
2004 – To Present
Joe Horky
1980 – 1981
Harold Horn
1981 – 1996
Robert Hundley
1942 – 1958
J. W. Irvine
1943 – 1965
Chris S. Jackson, Jr.
1993 – 2005
Hughes Jackson, Jr.
1973 – 1984
D. W. Jones
1879 – 1885
James Kinnaird
1881 – 1883
J. R. Knox
1907 – 1945
E. W. Lee
1885 – 1888
* J. Douglas Little
1993 – To Present
Pierce Lively
1959 – 1973
A. B. Massey
1920 – 1933
D. C. May
1893 – 1894
M. Carlisle Minor
1919 – 1974
Sam A. Moore
1883 – 1899
J. Lee Murphy
1924 – 1968
Joe McDowell
1936 – 1942
A. R. McKee
1879 – 1881
George McRoberts
1902 – 1949
Thomas McRoberts
1879 – 1905
Dot Neale
2013 – 2015
L. N. Neale
1925 – 1944
L. N. Neale, Jr.
1944– 1987
John B. Nichols, Jr.
1954 – 1972
John B. Nichols, III.
1976 – 2000
Elizabeth G. Nickels
1987 – 2006
W. H. Parks
1882 – 1922
* Henry Vincent Pennington, III. 2005 – To Present
B. F. Phillips
1885 – 1900
       THE FIRST 140 YEARS | 89
    ]]></page><page Index="94" isMAC="true"><![CDATA[* Patti Powell
2018 – To Present Date
Louis Prichard
1992 – 2002
William R. Rankin, MD
2005 – 2015
Hart Rapier
1950 – 1971
J. A. Robinson
1904 – 1934
J. F. Robinson
1922 – 1940
J. H. Robinson
1930 – 1969
John C. Robinson
1934 – 1947
Charles H. Rodes
1879 – 1924
* John B. Rodes
2004 – To Present
Nelson D. Rodes
1919 – 1950
Nelson D. Rodes, Jr.
1969 – 2004
George W. Rue
1927 – 1930
M. P. Sallee
1884 – 1891
R. L. Shoulty
1967 – 1980
English Sullivan
1954 – 1976
J. K. Sumerall
1879 – 1884
* Jacob Tamme
2017 – To Present
James D. Thompson
1979 – 2004
Robert D. Thompson
1991 – 1998
* Jeffrey J. Thornton
1980 – 1992
& 1998 to Present
J. W. Weatherfad
1879 – 1884
G. W. Welsh
1879 – 1893
& 1899 – 1924
M. G. Weisiger
1909 – 1934
Maurice E. Wilson
1976 – 1993
Nelson Wingate
1879 – 1880
Guy E. Wiseman
1899 – 1932
G. B. Woodcock
1883 – 1902
W. W. Yeagen
1884 – 1885
John W. Yerkes
1899 – 1909
* Active Director of Bank, as of February 2019
    90 | FARMERS NATIONAL BANK
   ]]></page><page Index="95" isMAC="true"><![CDATA[    Back Row – L to R:
FARMERS NATIONAL BANK
Directors 2019
(along with year added to board)
• Logan Germann, Businessman – 2014
• Marty Gibson, Farmers National Bank President - 2016
• Jacob Tamme, Businessman & Farmer - 2017
• Greg Caudill, Farmers National Bank Chief Executive Officer – 1996
• John Albright, Caldwell Stone Company – 1997
• Robert Caldwell, Central Seal Company – 1989
• Henry Vincent Pennington, III., Sheehan, Barnett, Dean, Pennington,
Little & Dexter, PSC – 2005
Front Row – Seating – L to R:
• J. Douglas Little, Little Oil Company – 1993
• Jeffrey J. Thornton, Retired Banker – 1980
• Patti Powell, Stuart Powell Ford-Lincoln-Mazda - 2018
• John B. Rodes, CPA, Kerbaugh, Rodes, & Butler, PLLC – 2004
• Louis M. Beto, DMD, Beto & Bogardus, PLLC – 2005
• Hugh Gates Hines, III, Businessman & Farmer – 2004
      THE FIRST 140 YEARS | 91
    ]]></page><page Index="96" isMAC="true"><![CDATA[ FARMERS NATIONAL BANK
COMMUNITY ADVISORY MEMBERS 2019
Boyle County
Scott Bottoms, President, Danville Office Equipment; Mary Ann Wilder Brown, Funeral Director; Jerry M. Germann, Farmer & Businessman; Morton M. Hoagland, Retired Banker; Mark Morgan, Attorney; Tom Poland, Businessman & Retired Banker; Nelson D. Rodes, Jr.; Retired Attorney and Banker; and Mark Ward, Optometrist.
Garrard County
Deonica Asbery, Realtor; Matthew Barsotti, Retired Businessman; Mary Adrianne Davis, Garrard County Schools; Jason Gaffney, DocuBit; Billy V. Lanham, Retired Banker; Tommy Noe, Garrard County Farm Bureau and Darren Taul, DVM, Veterinarian.
Lincoln County
Samuel T. Adams, Farmer; Sonja Bratcher, Kentucky Farm Bureau, Agent; David Campbell, Farmer; Daryl K. Day, Lincoln County Attorney; James Mack Dunn, Businessman; Sheree H. Gilliam, Inter-County Energy; Ina Glass, Ephraim McDowell Health, VP of Outpatient Care & Administration; Bill Payne, Farmer and George O. (Sonny) Spoonamore, Lincoln County Court Clerk.
Mercer County
David Baker; Farmer; Susan Thompson Barrington, Retired State Park Superintendent; Don Carney, Retired Banker; Dale Cinnamon; Retired Banker; Samuel Dixon Dedman, Co-owner of Beaumont Inn; LeMayne Ellis, Veterinarian; Jeffery Klosterman, Optometrist; Margaret Meredith, CPA; Eugene Robinson, Retired Banker; Larry Royalty, Retired Banker; David Taylor, Attorney and John Trisler, Retired IBM Official and County Judge Executive.
92 | FARMERS NATIONAL BANK
]]></page><page Index="97" isMAC="true"><![CDATA[ FARMERS NATIONAL BANK
FAMILY IN 2019
The bank’s mission is to be the best provider of financial services in the region. With over 180 employees dedicated to the communities in which they serve, Farmers National Bank stands out as a leader in community service. Management encourages employees to volunteer and support local organizations. In fact, during the past year, Farmers National Bank and employees participated and donated time, talents and financial support to over 200 community organizations, with education and economic development being a key focus.
Employees of Farmers National Bank, WealthSouth & FNB Investment Services
As of the bank’s anniversary date, February 10, 2019, Farmers National Bank employed individuals residing within Boyle, Fayette, Garrard, Harrison, Lincoln, Jessamine, Marion, Mercer, Pulaski, Scott and Warren counties, of Kentucky. Over the next pages is a listing of employees, along with their date of employment.
THE FIRST 140 YEARS | 93
]]></page><page Index="98" isMAC="true"><![CDATA[Department
Brokerage Brokerage Brokerage Brokerage Brokerage Brokerage Brokerage
Burgin Burgin Burgin
Danville Square Danville Square Danville Square Danville Square Danville Square
East Main East Main East Main East Main East Main East Main East Main East Main
Executive Executive Executive Executive Executive
Employee Name
Culp, Tina D. Gambrel-McElroy, Sharon K. Joiner, Jeff K.
Marshbanks, Marvin McMann, Valery M.
Newell, Amy L.
Steele, Barry S.
Mullins, Harriet M. Paternoster, Olivia M. Stephens, Rachel D.
Adams, Taylor
Brown, Leslie A. Chambers, Kamearah B. Griffith, Rebecca N. Smith, Kelly L.
Burchfield, Kristin Chidester, Patti B. Emerson, Derek R. Foutch, Joyce R. Hall, Andreana G. Holt, Renee
Kasak, Barbara J. Kouna, Ashanti R.
Bramel, Katy H. Caudill, Greg W. Cochran, Jennifer O. Frondal, Dana J. Gibson, Marty
Hire Date
09/29/2014 04/09/2007 02/13/2004 12/01/2008 02/01/2005 08/22/2006 07/06/2012
09/23/2015 10/23/2013 05/12/2015
04/11/2016 10/15/2007 08/07/2017 12/07/2015 02/27/2017
04/24/2017 09/14/2011 05/08/2006 09/25/2017 01/17/2018 06/08/2015 11/17/2014 10/15/2018
08/04/2014 01/02/1981 11/20/2006 01/12/2006 03/15/1999
     94 | FARMERS NATIONAL BANK
   ]]></page><page Index="99" isMAC="true"><![CDATA[Department
Executive Executive Executive Executive Executive Executive Executive Executive
Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations Finance/Operations
Garland Drive Garland Drive Garland Drive Garland Drive Garland Drive
Employee Name
Gooch, Yvonne W. Higginbotham, Carla D. Hopkins, Adam D. Howell, Sharon K. Isola, Amy G.
Nolan, Ronda F Owen, Christa P. Welch, Brant E.
Baird, Katie
Baker, Angie G. Cornett, Kevin A. Gooch, William C. Holman, Dean Leigh, Jeremy V. McKinney, Jessica R. McKitric, Mary G. Meek, Brandon D. Pike, Chastity M. Pike, Beth
Pitney, Colleen L. Schroeder, Gary J. Sparrow, Chris Taylor, Melanie D. Thelen, Debra A. Todd, Brandi O.
Ford, Joshua L. Lay, Talisa J. Miller, Erica Miller, Kayla B. Ruhe, Amber D.
Hire Date
07/02/1979 08/11/1998 04/10/2000 09/16/1985 02/01/1998 07/20/2017 04/07/2008 05/02/2016
12/27/2017 03/26/2001 05/14/2018 02/16/1998 06/28/2004 02/28/2007 01/07/2013 09/10/1990 04/18/2005 10/23/2006 06/10/2013 09/30/1996 02/27/2012 08/25/2008 02/09/2011 08/14/2006 11/22/2004
03/18/2013 02/10/2003 02/27/2013 02/27/2017 02/24/2014
       THE FIRST 140 YEARS | 95
    ]]></page><page Index="100" isMAC="true"><![CDATA[Department
Harrodsburg Harrodsburg Harrodsburg Harrodsburg Harrodsburg Harrodsburg Harrodsburg Harrodsburg Harrodsburg Harrodsburg Harrodsburg
Junction City Junction City Junction City Junction City Junction City
Lancaster Lancaster Lancaster Lancaster Lancaster
Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit
Employee Name
Curodeau, Charlotte A. Curry, Anne S. Drakeford, Jimmy J. Hawes, Gail
Johnson, Christine S. Nesbitt, Staton
Renner, Stacy L. Rogers, Janna L. Shewmaker, M. Blake Sims, Jessica R. Worthington, Glenna F.
Cheatham, Jessica R. Moser, Erin F.
Sims, Amber L. Smith, Shelby M. Winchester, Amber
Davis, Chris Reeves, Katelyn C. Stump, Belinda H. Townes, Katie Young, Ashley N.
Arnold, Kevin P. Aubrey, Kathryn B. Bastin, Mike
Branam, Gregory A. Brummett, Stephanie E. Clark, Rusty
Coffman, Avanda D. Crowe, Courtney R. Dickison, Scott Douglas, Jamie E.
Hire Date
02/12/2007 09/11/2001 04/09/2007 06/02/2008 08/22/2002 03/26/2018 02/06/2012 04/25/2006 11/15/2004 01/22/2013 01/17/2017
11/05/2018 10/15/2018 07/06/2016 07/03/2013 05/08/2006
07/31/2015 09/09/2013 07/09/2001 01/07/2019 11/14/2011
04/22/2002 12/16/2015 01/13/2003 10/01/2008 01/29/2018 10/18/2016 06/25/2007 04/03/2013 11/09/2009 02/28/2011
     96 | FARMERS NATIONAL BANK
   ]]></page><page Index="101" isMAC="true"><![CDATA[Department
Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit Lending/Credit
Main Office Retail Main Office Retail Main Office Retail Main Office Retail Main Office Retail Main Office Retail Main Office Retail Main Office Retail Main Office Retail Main Office Retail
Perryville Perryville Perryville Perryville Perryville Perryville
Employee Name
Dunn, Linda B.
Elliott, Kimberly S. Feenick, Robert A. Frisby, Angela L. Goggin, John D. Gourley, Crystal L. Hart, Marlene G.
Hayes III, Clyde W. Johnson, Jesse R. Lemonds, Cassandra M. Littlefield, Steve Munford, Lorie B. Renner, Rebecca R. Reynolds, Tanya D. Smith, Mackenzie R. Southerland, Dalton R.
Baker, Shelby T. Drakeford, Ashley G. Dubravcak, Karen L. Goode, Whitney N. Hall, Taylor R. Hayes, Debra J. Jones, Hye Suk Mattingly, Nikki Rice, Marie
Woodis, Meagan N.
Bottom, Lisa A. Carpenter, Lana G. Glasscock, Jeff Huff, Alyson N. Lyons, Megan R. Taylor, Amanda G.
Hire Date
03/04/2002 09/30/2016 12/02/2015 07/03/2017 05/01/1992 04/30/2001 09/13/2007 07/05/2017 09/28/2010 11/20/2006 05/27/2008 03/10/2003 04/03/2013 02/08/1999 05/14/2018 06/20/2017
10/01/2018 04/25/2006 02/21/2006 05/30/2017 09/17/2018 11/12/2003 08/07/2000 04/23/2018 07/10/2001 02/04/2019
08/08/1984 04/27/1998 08/11/1986 02/09/2011 10/15/2007 08/07/2017
       THE FIRST 140 YEARS | 97
    ]]></page><page Index="102" isMAC="true"><![CDATA[Department
Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations Retail Operations
Stanford Stanford Stanford Stanford Stanford Stanford Stanford
WealthSouth Bowling Green WealthSouth Bowling Green WealthSouth Bowling Green WealthSouth Bowling Green
Employee Name
Asbery, Kirsten L. Bryington, Donna C. Carroll, Samantha N. Carter, Rob W.
Cash, Whitney N. Dean, Angela D.
Drake, Brandon W. Hatfield, Traci L. Honaker, Chrissy R. Marsh III, Michael J. Mason, Blake V. Moore, Hannah E. Richey, Mary E.
Ward, Christopher A-L. Weise, Kathleen N. Wilson, Kasey A.
Berry, DiAndra S. Jones, Rebecca J. Keith, Sharon
Lynn, Bridgette Messer, Janice L. Pennington, McKenzie Saylor, Donya L.
Beard, Katie E. Grider, John D. Neal, Brandon A. Simpson, Kevin D.
Hire Date
11/19/2007 01/14/2008 06/25/2007 06/01/1993 05/21/2007 05/15/2013 08/22/2016 07/26/1993 04/08/2002 04/17/2017 03/12/2018 06/19/2017 01/26/2004 11/27/2017 05/12/2015 10/26/2004
05/15/2017 07/24/2006 02/07/2005 05/20/1996 11/27/2017 11/05/2018 02/19/2007
05/31/2017 02/18/2013 04/20/2017 03/04/2013
     98 | FARMERS NATIONAL BANK
   ]]></page><page Index="103" isMAC="true"><![CDATA[Department
WealthSouth Danville WealthSouth Danville WealthSouth Danville WealthSouth Danville WealthSouth Danville
WealthSouth Institutional WealthSouth Institutional WealthSouth Institutional WealthSouth Institutional WealthSouth Institutional
WealthSouth Lexington WealthSouth Lexington WealthSouth Lexington WealthSouth Lexington WealthSouth Lexington WealthSouth Lexington WealthSouth Lexington WealthSouth Lexington WealthSouth Lexington WealthSouth Lexington
WealthSouth Support WealthSouth Support WealthSouth Support WealthSouth Support WealthSouth Support WealthSouth Support WealthSouth Support WealthSouth Support
Employee Name
Bigelow, Shelley Milby, Kathy M. Neyhouse, Katy K. Walker, Judy S. White, Allen B.
Cash, Rick
Eads, Jamie B. Ford, Morgan R. Long, Clint G. Reynolds, Brian K.
Cadwell, John L.
Frank, Lisa
Howell, William J. Joefreda, Matthew R. Jones, Laura M.
Mullis, Gordon
Watson II, Ralph S. (Bud) Wesley, Rodney S. Yessin, Tim D.
Zinger, Jeff D.
Cheatham, Lexie M. Estes, Anne Marie Fereday, James C. Hager, Thomas Pollom, Sam E. Scott, Cassie P. Smither, Nikolaus A. Walker, Lee L.
Hire Date
01/11/2006 10/19/2009 05/09/2005 01/13/2014 06/01/2005
02/01/2013 11/10/2015 04/24/2018 04/24/2017 06/01/2009
09/04/2018 01/09/2017 05/06/2013 08/15/2016 09/04/2018 12/05/2016 09/04/2018 05/22/2013 07/06/2016 10/24/2016
07/24/2017 06/02/2008 05/08/2017 10/20/2010 05/31/2016 09/11/2001 02/20/2018 09/04/2018
       THE FIRST 140 YEARS | 99
    ]]></page><page Index="104" isMAC="true"><![CDATA[ Greg W. Caudill
Chief Executive Officer
J. Martin Gibson
President
Rusty Clark
Executive Vice President, Head of Lending and WealthSouth Western Kentucky Regional President
William Gooch
Executive Vice President, Chief Risk Officer
Amy Isola
Executive Vice President, Director of Human Resources
Kevin P. Arnold
Senior Vice President, Senior Lender
Brandon Drake
Senior Vice President, Head of Sales and Service
Robert A. Feenick
Senior Vice President, Equine Lending
John Goggin
Senior Vice President, Chief Credit Officer
Yvonne Gooch
Senior Vice President, Director of Internal Audit
Traci Hatfield
Senior Vice President, Head of Retail Banking
Adam Hopkins
Senior Vice President, Chief Security Officer
Brandon Meek
Senior Vice President, Chief Information Officer
Katie Baird
Vice President, Controller
Mike Bastin
Vice President, Loan Officer
Linda Dunn
Vice President, Loan Operations Manager
Sharon K. Howell, CFMP
Vice President, Director of Marketing
Jesse Johnson
Vice President, Commercial Loan Officer
Chris Sparrow
Vice President,
Chief Financial Officer
Brant Welch
Vice President, Customer Experience Manager
Jennifer Cochran, CAMS
Assistant Vice President, BSA Officer
Scott Dickison
Assistant Vice President, Credit Analyst
Kim Elliott
Assistant Vice President, Mortgage Lender
Angela Frisby
Assistant Vice President, Loan Officer
Carla Higginbotham
Assistant Vice President, Human Resources Generalist
Jeremy Leigh
Assistant Vice President, Technology Manager
Steve Littlefield
Assistant Vice President, Asset Resolution Manager
FARMERS NATIONAL BANK
Officers 2019
    100 | FARMERS NATIONAL BANK
   ]]></page><page Index="105" isMAC="true"><![CDATA[Ronda Nolan
Assistant Vice President, Internal Auditor
Christa Owen, CRCM
Assistant Vice President, Compliance Officer
Marie Rice
Assistant Vice President, Main Office Retail Manager
Mary Richey
Assistant Vice President, Assistant Retail Banking Manager
Dalton Southerland
Assistant Vice President, Commercial Loan Officer
Brandi Todd
Assistant Vice President, Operations Manager
Kasey Wilson
Assistant Vice President, Records Manager
East Main
Patti Chidester
Assistant Vice President, East Main Branch Manager
Garland Drive
Talisa Lay
Assistant Vice President, Garland Dr. Branch Manager
Harrodsburg Banking Center
Blake Shewmaker
Vice President, Mercer County Market Manager
Anne Curry
Assistant Vice President, Retail Branch Manager
Jimmy Drakeford
Assistant Vice President, Loan Officer
Staton Nesbitt
Assistant Vice President, Commercial Loan Officer
Junction City
Amber Winchester
Assistant Vice President, Junction City Branch Manager
Lancaster Banking Center
Chris Davis
Assistant Vice President, Garrard Co. Market Manager
Belinda Stump
Assistant Vice President, Retail Branch Manager
Perryville Banking Center
Lisa Bottom
Vice President,
Perryville Market Manager
Lana Carpenter
Assistant Vice President, Retail Branch Manager
Stanford Banking Center
Sharon Keith
Vice President, Loan Officer
Donya Saylor
Assistant Vice President, Lincoln Co. Market Manager
Jeff Joiner
Vice President, Investment Broker
Valery McMann, CFP
Vice President, Investment Broker/Insurance Advisor
     FNB INVESTMENT SERVICES Officers 2019
         THE FIRST 140 YEARS | 101
    ]]></page><page Index="106" isMAC="true"><![CDATA[ Thomas Hager
President
Rick Cash, CRSP
Senior Vice President, Institutional Specialist
James Fereday
Senior Vice President, Chief Investment Officer
William J. Howell
Senior Vice President, Market Director, Lexington
Brian Reynolds, CRSP, CTFA
Senior Vice President, Institutional Director
Kevin D. Simpson, CTFA
Senior Vice President, Market Director, Bowling Green
Allen White, Jr.,
AAMS, CTFA
Senior Vice President, Market Director, Danville
Jeff Zinger
Senior Vice President, Lending Manager, Growth Markets
Shelley Bigelow, CTFA, NSSA
Vice President, Senior Trust Officer
John Cadwell
Vice President, Wealth Management Advisor
Jamie Eads, APR, AIF
Vice President, Institutional Specialist
Matthew Joefreda
Vice President, Commercial Relationship Manager
Laura Jones, J.D., CTFA
Vice President, Senior Trust Officer
Clint Long
Vice President, Institutional Investment Consultant
Gordon Mullis, J.D.
Vice President, Trust Officer
Brandon Neal
Vice President, Wealth Management Advisor
Sam Pollom, J.D.
Vice President, Director of Operations and Compliance
Lee Walker
Vice President,
Senior Portfolio Manager
Ralph "Bud" Watson II, CPA
Vice President, Senior Wealth Management Advisor
Rodney Wesley
Vice President, Private Banker
Tim Yessin
Vice President, Wealth Management Advisor
Kathy Milby
Assistant Vice President, Trust Administrator
Katy Neyhouse,
CTFA, NSSA
Assistant Vice President, Trust Officer
Cassie Scott
Assistant Vice President, Trust Operations Manager
WEALTHSOUTH
Officers 2019
    102 | FARMERS NATIONAL BANK
   ]]></page><page Index="107" isMAC="true"><![CDATA[ FARMERS NATIONAL BANK
LOCATIONS
FEBRUARY 10, 2019
THE FIRST 140 YEARS | 103
]]></page><page Index="108" isMAC="true"><![CDATA[ Main Office
304 W. Main Street | Danville, KY
     104 | FARMERS NATIONAL BANK
   ]]></page><page Index="109" isMAC="true"><![CDATA[ Danville Square
1714 Perryville Road | Danville, KY
       THE FIRST 140 YEARS | 105
    ]]></page><page Index="110" isMAC="true"><![CDATA[ East Main
211 East Main | Danville, KY
     106 | FARMERS NATIONAL BANK
   ]]></page><page Index="111" isMAC="true"><![CDATA[ Junction City
101 Shelby Junction Lane | Junction City, KY
        THE FIRST 140 YEARS | 107
    ]]></page><page Index="112" isMAC="true"><![CDATA[ Perryville Banking Center
309 East Second Street | Perryville, KY
     108 | FARMERS NATIONAL BANK
   ]]></page><page Index="113" isMAC="true"><![CDATA[ Garland Drive
100 Garland Drive | Danville, KY
        THE FIRST 140 YEARS | 109
    ]]></page><page Index="114" isMAC="true"><![CDATA[ Lancaster Banking Center
20 Commerce Drive | Lancaster, KY
      110 | FARMERS NATIONAL BANK
   ]]></page><page Index="115" isMAC="true"><![CDATA[ Harrodsburg Banking Center
776 South College Street | Harrodsburg, KY
        THE FIRST 140 YEARS | 111
    ]]></page><page Index="116" isMAC="true"><![CDATA[ Burgin
125 East Main Street | Burgin, KY
     112 | FARMERS NATIONAL BANK
   ]]></page><page Index="117" isMAC="true"><![CDATA[ Stanford Banking Center
131 Frontier Blvd. | Stanford, KY
        THE FIRST 140 YEARS | 113
    ]]></page><page Index="118" isMAC="true"><![CDATA[ FARMERS NATIONAL BANK
LOOKING TO THE FUTURE
Throughout 140 years of service to the communities it serves, Farmers National Bank has been a safe, sound and steadily growing financial institution. In 1943, it acquired the assets of Boyle Bank and Trust Company, an institution whose history dated back to pre- civil war days as, March 1, 1853, it opened for business, as The Deposit Bank of Danville. Through this acquisition, the Farmers National Bank virtually doubled its assets overnight. Then during the ensuing decades, due largely to community developments, acquiring Citizens National Bank & Trust Company of Burgin, growing additional banking locations throughout the markets of Boyle, Garrard, Lincoln and Mercer counties, along with growing its trust investments unit within WealthSouth, (by adding locations in Bowling Green and Lexington), it is today one of the strongest and trusted banking institutions, in Kentucky.
Farmers National Bank’s 9th President, Nelson D. Rodes, Jr. wrote in his management letter of 1988:
Nelson D. Rodes, Jr.
Farmers National Bank was established many years ago by public spirited businessmen who recognized the importance of a well run and locally managed financial institution for the growth and prospertity of the community. By consistently adhering to this phililosophy as our primary mission, Farmers National Bank has contributed greatly to the significant economic growth of Boyle County and the surrounding areas and has shared in its resulting prosperity.
The bank’s current Board of Directors and management team continue to strongly sup- port this same philosophy established by the early leaders in banking. And, on this 140th Anniversary year, we can proudly report that past accomplishments and successess of Farmers National Bank are most gratifying and can confidently predict that its future is both challenging and promising.
114 | FARMERS NATIONAL BANK
]]></page><page Index="119" isMAC="true"><![CDATA[     EXPERIENCE THE DIFFERENCE
Greg Caudill
Chief Executive Officer, Farmers National Bank February 10, 2019
     Marty Gibson
President Farmers National Bank February 10, 2019
      THE FIRST 140 YEARS | 115
    ]]></page><page Index="120" isMAC="true"><![CDATA[ O B I T U A R I E S
OF PAST PRESIDENTS
FARMERS NATIONAL BANK
James Granville Cecil
First President of Farmers National Bank (1879 – 1881)
(Interior Journal – June 17, 1881)
James Granville Cecil, a prominent and wealthy citizen of this community, died
at his residence near Danville, on Sunday night last, aged 78. Mr. Cecil was a native of Virginia, and came to Wayne County, this state, in 1820. He came to Boyle County in 1848, where he lived until his death. He was plain, energetic and just, and succeeded in amassing a large fortune.
(Interior Journal – June 24, 1881)
J. G. Cecil will give his wife $3,000, and to Charles P. Cecil, the sum of twenty-five thousand dollars in trust “to be invested and held by him for the use of my beloved wife, Margaret Cecil, for and during the period of her natural life, the interest
only to be paid to her.” He confirms and approves the advancements of seventy-two thousand dollars to each of his children and desires the residue of his estate to be distributed between his six children, share and share alike.
116 | FARMERS NATIONAL BANK
]]></page><page Index="121" isMAC="true"><![CDATA[  Thomas McRoberts
Second President of Farmers National Bank (1881 – 1883)
(Danville News – February 2, 1904)
Thomas McRoberts, one of the most ven- erable and influential of Danville’s citizens, died last Sunday morning at 10 o’clock at his home on Broadway. The deceased had been in declining health for the past few years and his condition had become so grave within the past two weeks that his death has been momentarily expected.
Had he lived until next August he would have been eighty-eight years of age, having been born on the 7th day of that month, 1817, at Walnut Flat, Lincoln County. He was the son of Andrew McRoberts and Margaret Moore, who came to Kentucky from Virginia.
The deceased started on his business career at the early age of seventeen and from that time until a few years ago, when he retired from active business pursuits, he was one of the most successful men in this part of the state. All of his many business ventures seemed to be prosperous, due no doubt
to his keen perception. All of his dealings were open and honorable; it is said of him that he never strived for the petty advan- tages over his fellowman, and he leaves
a life worthy of emulation - generous, upright, honorable, self-made.
He began his business career by clerking for Harry Owsley, of Stanford, and later he and Oliver Perry McRoberts, who still lives in this city, embarked in business. The Office of Sheriff, which was given
to the highest bidder in those days, was awarded to them, and the affairs of that office under their regime was conducted
in a highly satisfactory manner. In his
two terms as Sheriff, Mr. McRoberts only turned in six delinquents. He came to Danville a little latter and entered into the dry goods business with John W. Caldwell; their business being conducted in the room now occupied by Roberts & Caldwell. This venture proved very successful. During the year of 1853, the wholesale dry goods firm Brannon, Thatcher & McRoberts opened in Louisville, and this, like his other ventures proved to be a moneymaker. In the year of 1856, he moved to La Crescent, Minnesota, and entered into farming, and was at one time the largest sheep raiser in that region. This proved to be one of his most prosper- ous ventures he ever made.
He invested largely in the lands in and around that city and state. He was one of the promoters of the great Chicago, Milwaukee & St. Paul Railroad. He served two terms in the State Senate as a Democrat, although his district was
      THE FIRST 140 YEARS | 117
    ]]></page><page Index="122" isMAC="true"><![CDATA[overwhelmingly Republican, and had no opposition while in the office, which shows in what high distinction he was held in his western home. He also made some invest- ments in the City of Chicago, the States of Texas and Indiana. All of these investments turned out to be good ones.
In 1869, he returned to Boyle County, Kentucky and purchased the Judge John Kincaid farm, where he lived until he built his handsome home, where he died. He was President of the Farmers National Bank of this city, a position he had held for a number of years notwithstanding he had retired from his active business career. During his long business life, he amassed quite a large fortune. He was a kind man with a generous disposition, living with “malice toward none and charity for all.”
On May 28, 1868, he and Miss Mary Louise Hume, of Madison County, were
(Courier Journal – November 18, 1919)
The death of Jere Caldwell, of Boyle County, removes from the life of a favored and charming section of Kentucky, a man in whose career was realized the Southern
married. To them, six children were born, two of whom died when quite young. Those living are Misses Mary and Sue, Mr. John and Mr. George, who have the sympathy of the entire community in their hour of bereavement. He his also survived by one sister, Mrs. Wm. Higgias, of Stanford. His wife died in 1878.
The funeral services were held at his late home this afternoon at two o’clock, being conducted by Dr. W. M. Green, after which a large concourse of friends of the family, followed the remains to Bellevue Cemetery, where interment took place. The floral designs were many and beautiful, the grave being entirely hidden with flowers. The pall bearers were J. C. Caldwell, G. W. Welsh, Granville Cecil, Sr., C. P. Cecil, Sr., U. R. Anderson and W. P. Givens.
 Jere Caldwell
Third President of Farmers National Bank (1883 – 1919)
planter of romance; a county magnate
— who lived like an English country gentleman and who possessed aptitude for business in a degree uncommon among the landed gentry of England, but fairly com- mon among rural Kentuckians who begin
    118 | FARMERS NATIONAL BANK
   ]]></page><page Index="123" isMAC="true"><![CDATA[life with modest fortunes in land which “needs but little coaxing.”
He maintained a hospitable establishment and a considerable one, enjoyed an enviable social position, commanded more leisure than falls to the lot of the average success- ful business man in town, and amassed, perhaps, $1,000,000.
Jere Caldwell was a prominent member of a landed class in his section to whom life
(Kentucky Advocate – August 6, 1936)
Word was received here today of the death of J. C. Caldwell, Jr., 55, prominent Danville financier and Boyle County farmer, who was found dead early this morning, in his room at Highland Park, Highland, North Carolina.
Although details of the death were lacking, Mr. Caldwell had been in ill health for the last few months. The illness had caused him to resign, January 1, 1936, as president of the Farmers National Bank, of this city.
An Associated Press dispatch from the Highlands to The Advocate stated that Dr.
still yields many of the compensations that have been celebrated by writers of novels depicting the rural Kentucky and Virginia; men whose business acumen applied to the problems of tillage and stock raising nets less than it might if it were devoted
to manufacturing or finance in great cities, but whose careers must be in all respects as satisfying to any reasonable ambition as that of the manufacturers, merchant princes or other magnates of the largest centers of population.
LeRoy Charles, of Atlanta, Georgia, with whom the deceased played golf yesterday, pronounced his death due to angina pectoris. Dr. Charles said that he seemed in unusually health yesterday, though complaining of indigestion.
Mr. Caldwell had been at the North Carolina resort for several days and it was learned here today that Wednesday he engaged in several rounds of golf with members of his party.
The deceased had been prominently identified with the business, social and civic affairs of the city. Besides serving as head of the Farmers National Bank, Mr. Caldwell
 J. C. Caldwell, Jr.
Fifth President of Farmers National Bank (1923 – 1936)
      THE FIRST 140 YEARS | 119
    ]]></page><page Index="124" isMAC="true"><![CDATA[was a member of the board of directors of that institution. The owner of several large farms, he was also one of the organizers
of the new Danville Country Club, was
a former officer and now member of the Danville and Boyle County Hospital,
and, associated with the Peoples Tobacco Warehouse. He was a member of the 1900 class of Centre.
(Advocate Messenger – November 10, 1943)
Mr. James Fleece Robinson, former presi- dent of Farmers National Bank of Danville, died at 7 o’clock this morning, at his home on West Lexington avenue.
Mr. Robinson was born on June 30, 1869, in Lincoln County, the son of Alexander C. and Jane Denny Robinson.
He was educated at Male Academy in Lancaster and at Centre College.
In June 1889, Mr. Robinson became book- keeper in the Lancaster National Bank, which position he held until January 1913. He was next engaged for eight years in the mule business in Macon, Georgia.
Mr. Caldwell was a son of the late Jere Caldwell, former head of the Farmers National Bank and the late Ann Bell
Fox. Caldwell was a bachelor. He left three brothers, Charles W. Caldwell, Fox Caldwell and Logan Caldwell, of Danville.
 James Fleece Robinson
Sixth President of Farmers National Bank (1936 – 1937)
In 1921, he became cashier of the Lincoln National Bank of Stanford where he remained for one year before coming to Danville, as cashier of the Farmers National Bank.
He later served the institution as vice president and became president in January 1936. Failing health caused him to retire from active business, in January 1937.
Mr. Robinson was a member of the First Christian Church. He is survived by his widow, Mrs. Maude Robinson; one broth- er, George D. Robinson, Lancaster; and several nieces and nephews.
Funeral services will be held at 3 o’clock Monday afternoon at the residence.
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   ]]></page><page Index="125" isMAC="true"><![CDATA[The Rev. J. T. Liggett, pastor of the First Christian Church, will officiate. Burial will be in Bellevue cemetery.
Active casket bearers will be Fox Caldwell, Lewis N. Neale, George A. McRoberts, J. R. Bright, F. F. Stone, Henry Hankla and W. R. Cook.
(Advocate Messenger – April 20, 1949)
George A. McRoberts, 77, who was mayor of Danville from 1932 to 1937, died at 6:30 o’clock, Tuesday night, at Ephraim McDowell Memorial Hospital, where he had been a patient since April 16. He had been ill since September.
Born November 20, 1871, in Danville, Mr. McRoberts had lived in the same large family residence on West Broadway, since he was five or six years old. He was the son of the late Thomas McRoberts, a former president of Farmers National Bank, and Mary Hume McRoberts.
A graduate of Centre College with the class of 1890, and later a student of Harvard University, Mr. McRoberts was a well- known athlete in his early years. He played
Honorary casket bearers include Charles W. Caldwell, Dr. O. L. May, M. C. Minor, Henry Guthrie, H. B. Browning, J. E. Allen, W. S. Center, John S. Baughman and J. B. Nichols, Sr.
 George A. McRoberts
Fourth President of Farmers National Bank (1920 – 1923)
baseball with the Bluegrass League and received offers, which he declined, to play professional baseball with the big leagues.
He served as a member of the Danville City Council for a number of years - between 1920 and 1930.
One of the original promoters of Dix Dam, he was also a promoter of the Dix River Power Company and the Kentucky Hydroelectric Company, its successor, which built the dam. He served for several years on the boards of the two companies. He was also instrumental in the expansion and development of the Kentucky Utilities Company, in the local area.
All of Mr. McRoberts’ efforts were constructive, a close friend, and local professional man said today, pointing out
      THE FIRST 140 YEARS | 121
    ]]></page><page Index="126" isMAC="true"><![CDATA[that he was a leader in the project which brought about the construction of perma- nent streets in the city, being known as “the father of the street system” in Danville, and was responsible in great measure
for the expansion of the local sewer and waterworks projects. These measures were accomplished while he served on the City Water Committee.
Mr. McRoberts, until recent years, was also instrumental in developing coal land properties, in eastern Kentucky.
At the time of his death, Mr. McRoberts was a member of the Board of Trustees of Centre College; chairman of the Board of Directors of Ephraim McDowell Memorial Hospital; a director of Farmers National Bank, of which he was also a former pres- ident, and was a past commander of Ryan Commandery No. 17, Knights Templar; and, past president of Danville Country Club. He held membership also in the Pendennis Club of Louisville and Louisville Country Club and was an elder in First Presbyterian Church where he had been an active member.
He was a farmer all of his life.
Survivors include a sister, Mrs. Lewis N. Neale; a niece, Miss Mary McRoberts
Neale and a nephew, Lewis N. Neale, Jr., all of the same address as the deceased, and two first cousins, Miss Julia H. Higgins, Richmond and S. H. Herrington, Lexington.
Funeral services were set for 3 o’clock Thursday afternoon, at the residence, with the Rev. D. Yandell Page, pastor of First Presbyterian Church, officiating.
Burial will be in Bellevue cemetery.
The body will be removed from Kemper Funeral home to the residence about 10 o’clock Thursday morning.
Active pallbearers will be J. E. (Ned) Wiseman, Col. W. V. Richardson, Logan Caldwell, Chenault Huguely, Dr. John Rice Cowan, Robert L. Salter, W. Scott Glore and Robert Fisher, all of Danville, and Julian VanWinkle and Dave Castleman, both of Louisville.
Honorary pallbearers will be J. E. Butler, J. D. Erskine, J. Lee Murphy, A. E. Hundlley, D. Walter, A. Groves, members of the Board of Trustees of Centre College, members of the board of Ephraim McDowell Memorial Hospital, officers of Farmers National Bank, and officers of First Presbyterian Church.
    122 | FARMERS NATIONAL BANK
   ]]></page><page Index="127" isMAC="true"><![CDATA[ M. C. Minor
Seventh President of Farmers National Bank (1937- 1967) 1968 – 1969 Chairman of the Board & President 1970 – 1974 Chairman of the Board
(Advocate Messenger – May 29, 1974)
Milton Carlisle Minor, 82, Chairman of the Board of Farmers National Bank and a Danville business and civic leader for more than fifty years, died early today at Ephraim McDowell Memorial Hospital, after an illness of four weeks.
A native of Gordon, Kansas, Mr. Minor was educated at the University of Kansas and at Harvard University Law School. He had lived here 61 years. As a young man, he practiced law in Danville and taught economics on the faculty at Centre College for 17 years.
He served as President of Farmers National Bank for 35 years, and recently served as Chairman of the Board. He also served as director of the Old Bank, of Perryville, and served six years as a member of the board of the Federal Reserve Bank, of St. Louis. He was widely known and highly respected throughout the state as a banker, lawyer, economist and investments counselor.
Mr. Minor served as a director and as president of the Danville Chamber of Commerce. He also was a member of the Danville Rotary Club and Danville Country Club. He belonged to First Christian Church. He recently served as a member of the fund committee for the new Ephraim McDowell Memorial Hospital building.
Funeral services will be held at First Christian Church Friday morning, at 10:30 a.m., with the minister, The Rev. Ivan Shelburne, Jr., officiating. Friends may call at Stith Funeral Home, after 10:00 a.m., on Thursday.
Surviving are his wife, Mrs. Mary Louise Minor, two daughters, Mrs. James D. Thompson and Miss Marilyn Minor, both of Danville; and two sons, Milton C. Minor, Jr., Cookeville, Tennessee and Marion T. Minor, Springfield, Ohio.
The family has requested that expressions of sympathy take the form of donations to charity of any choice.
      THE FIRST 140 YEARS | 123
    ]]></page><page Index="128" isMAC="true"><![CDATA[ Robert L. Shoulty
Eighth President of Farmers National Bank (1970 – 1979)
(Advocate Messenger – August 2, 2005)
Services for Robert L. “Bob” Shoulty, 100, of Springhill Road, will be at 11:00 a.m., Wednesday, at First Christian Church, by the Revs. Jerry Shepard and Ivan Shelburne. Burial will be in Bellevue Cemetery.
He died Sunday at his home.
Born April 9, 1905, in Bedford, Indiana,
he was the son of the late Otto C. and
Sally Ann Flekner Shoulty. He was a banker, retired after 52 years. He worked,
as President of Farmers National Bank,
from 1970 until 1979. He was a graduate of Purdue University and University of Indiana, a member of Danville Kiwanis Club and an elder of First Christian Church.
Survivors include his wife, Mary Catherine Little Shoulty; two daughters, Helen Baker of Allen Park, Michigan and Susan J. Mengel of Naperville, Illinois; four grand- children; and six great-grandchildren.
Pallbearers will be Troy Little, Gene Robinson, Mort Hoagland, Jim Thompson, Bob Webb and Richard Born.
Honorary pallbearers are Kiwanis Club members, directors of Farmers National Bank and Lisa Burke.
Preston-Pruitt Funeral Home is in charge of arrangements.
    124 | FARMERS NATIONAL BANK
   ]]></page><page Index="129" isMAC="true"><![CDATA[   ACKNOWLEDGEMENTS & RESOURCES
   We’d like to extend gratitude to the MANY individuals who contributed time and talents to create the official documentation and rendering of history for Farmers National Bank. To each of you, THANK YOU!
Special thanks are extended to bank retirees Debbie Lowe and Pat Short for their contri- butions to assist with the cataloging, organizing and researching memento items for the bank. Those items were displayed in the lobby of the main office of Farmers National Bank, located at 304 W. Main Street, Danville, Kentucky, during bank’s anniversary year.
Farmers National Bank employees Linda Dunn, Dean Holman, Jeremy Leigh, Steve Littlefield, Mary McKitric, Gary Schroeder, and Brant Welch assisted with storage of digital documents, building display cabinets and document retention of bank relics.
Special thanks to author/artist, Robert A. Powell, Danville, Kentucky for the pen-ink drawings featured within this publication.
Calvin Morgan Fackler — Early Days in Danville; Richard Griffin — Newspaper Story of A Town – A History of Danville, KY, 1963-64; and Richard Brown — A History of Danville & Boyle County, Kentucky, 1774-1992 for their early research documented within this publi- cation. Each of these publications were on loan to Farmers National Bank by the Boyle County Public Library and displayed in the lobby of Farmers National Bank, 304 W. Main Street, Danville, Kentucky during the 2019 Historical Celebration.
Newspaper research provided by: Newspapers.com; amnews.com; Advocate Messenger; Kentucky Advocate; Danville News; Interior Journal and Courier Journal.
Additional research in this publication, as documented herein, supplied by the Federal Deposit Insurance Corporation — fdic.gov — An Examination of the Banking Crisis of the 1980’s & Early 1990’s. History of the 80’s — Lessons for Future. Chapter 1. fdic.gov — Historical Timeline.
Money Printed by Farmers National Bank (1879 – 1935) — research provided thru google- books.com and antiquemoney.com.
      THE FIRST 140 YEARS | 125
    ]]></page><page Index="130" isMAC="true"><![CDATA[   ABOUT THE AUTHOR
   Sharon K. Howell, CFMP
Vice President & Director of Marketing Farmers National Bank
In 1985, I started a lifetime career with Farmers National Bank. During my employment, I had the pleasure of knowing many of the early Farmers National Bank financial pioneers that spent time with this organization. I was fortunate that individuals shared some of the early historical notes referenced within the publication and provided this legacy.
It is our hope you enjoy reading The First 140 Years and cherish the importance history has upon us. We believe that one cannot embrace the exciting opportunities of the future without first grasping and understanding the important impact and significance of the past.
K. Howell
Sharon K. Howell, CFMP Vice President, Director of Marketing Farmers National Bank
304 W. Main Street, P. O. Box 28 Danville, KY 40422
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