Question 1

What is Kentucky Farmers Bank?

Accepted Answer

Kentucky Farmers Bank is an independent, locally owned and operated community bank based in Catlettsburg, Kentucky. As a state-chartered, FDIC-insured commercial bank, it serves consumers and businesses throughout northeastern Kentucky and southeastern Ohio. With approximately $312 million in total assets and five full-service branches, Kentucky Farmers Bank positions itself as a community-focused institution providing personalized banking services with the tagline "Bank local... Go Far."

The bank is known for making all lending decisions locally, eliminating long closing times and providing responsive service to its community.

Question 2

When was Kentucky Farmers Bank founded?

Accepted Answer

Kentucky Farmers Bank was founded on January 1, 1931, through the merger of two historic banks: The Kentucky National Bank and Farmers and Merchants Bank, both of which traced their roots back to the 19th Century. The merger occurred during the challenging economic environment of the early Great Depression, creating a stronger institution to serve the Catlettsburg community.

Originally chartered as Kentucky-Farmers Bank of Catlettsburg, Kentucky, the bank has maintained continuous operations for over 90 years. In 2010, the institution officially changed its corporate name to Kentucky Farmers Bank Corporation, though it operates under the consumer-facing name Kentucky Farmers Bank.

Question 3

Where is Kentucky Farmers Bank headquartered?

Accepted Answer

Kentucky Farmers Bank is headquartered at 2500 Broadway in Catlettsburg, Kentucky. The bank relocated its main office to this location on July 6, 1976, where it occupies a prominent position at the corner of 25th Street and Broadway.

The headquarters serves as a full-service banking facility for Boyd County and the broader Huntington-Ashland metropolitan statistical area.

Question 4

Where does Kentucky Farmers Bank operate?

Accepted Answer

Kentucky Farmers Bank operates five full-service branches across northeastern Kentucky and southeastern Ohio:
• Main Office: Catlettsburg, Kentucky (Boyd County)
• Summit Office: 6313 US Route 60, Ashland, Kentucky (Boyd County)
• Ashland Office: 835 Carter Avenue, downtown Ashland, Kentucky (Boyd County)
• Louisa Office: 4393 Highway 2565, Louisa, Kentucky (Lawrence County)
• Wheelersburg Office: 207 Center Street, Wheelersburg, Ohio (Scioto County)

The bank primarily serves the tri-state area of Kentucky, West Virginia, and Ohio, with a focus on Boyd and Lawrence Counties in Kentucky. The Louisa branch was acquired in October 2019 through a government-assisted merger with Louisa Community Bank, expanding the bank's footprint in eastern Kentucky.

Question 5

What services does Kentucky Farmers Bank offer?

Accepted Answer

Kentucky Farmers Bank provides a comprehensive range of personal and business banking services:

Consumer Banking Services:
• Multiple checking account options (basic, statement, interest, and specialty checking)
• Savings accounts, money market accounts, and certificates of deposit
• Individual Retirement Accounts (IRAs)
• Student savings accounts with rewards for good grades and perfect attendance
• Consumer loans including auto, personal, home improvement, and farm loans
• Residential mortgage loans, second mortgages, and home equity loans
• Credit and debit cards (MasterCard/Visa)
• Overdraft protection

Business Banking Services:
• Business checking accounts
• Commercial loans and commercial mortgage loans
• Construction loans and equipment financing
• Operating lines of credit
• Community development loans for churches, fire departments, and municipal projects

Wealth Management Services:
• Asset Management Department established in 2001
• Full trust powers granted in 2001
• Wealth management and estate planning services
• Investment management

Digital Banking:
• Online banking with account management and bill pay
• Mobile banking app (KFBmobile)
• Electronic statements
• Instant-issue debit cards
• Drive-thru banking at all locations with extended Friday hours

Question 6

What makes Kentucky Farmers Bank unique?

Accepted Answer

Kentucky Farmers Bank distinguishes itself through several key characteristics:

Local Decision-Making: All loan decisions are made at the local level rather than at distant headquarters, enabling faster approvals and personalized service. The bank emphasizes that customers won't experience long closings because "we'll handle everything here and now."

Longevity and Stability: As the oldest continuously operating bank in the Catlettsburg area, Kentucky Farmers Bank has maintained its local ownership and independence for over 90 years. While other banks in the community have "come and gone and changed their names countless times," Kentucky Farmers Bank has remained committed to the area.

Community Banking Pioneer: In November 1969, Kentucky Farmers Bank became the first institution to offer commercial banking services to the Summit community in Boyd County, demonstrating its commitment to expanding access to financial services.

Educational Incentives: The bank offers unique student savings accounts that reward young customers with $25 for achieving good grades and perfect attendance, encouraging financial literacy from an early age.

Asset Management Expertise: Kentucky Farmers Bank added full trust powers and established its Asset Management Department in 2001 in direct response to customer requests, providing comprehensive wealth management, estate planning, and investment services uncommon for a community bank of its size.

Question 7

What type of financial institution is Kentucky Farmers Bank?

Accepted Answer

Kentucky Farmers Bank is classified as a state-chartered commercial bank. It operates under a state charter rather than a national charter and is not a member of the Federal Reserve System.

The bank is supervised by the FDIC and maintains FDIC insurance (Certificate #267). As a commercial bank, it provides a full range of banking services to both consumers and businesses, including deposit accounts, various types of lending, and trust services. Its state charter allows it to operate with regulatory oversight appropriate to its community bank focus while maintaining the flexibility to serve local needs.

The bank is organized as Kentucky Farmers Bank Corporation, with an assigned Fed RSSD ID of 683814.

Question 8

What is Kentucky Farmers Bank's financial strength?

Accepted Answer

Kentucky Farmers Bank demonstrates strong financial performance as a well-capitalized community bank. As of the most recent FDIC data, the bank reports total assets of approximately $312 million and total deposits of $261 million.

The bank maintains a healthy Return on Assets (ROA) of 1.96% and Return on Equity (ROE) of 13.15%, both of which exceed industry averages for community banks. With net income of approximately $4.5 million, the bank has consistently been recognized as a top-performing institution.

According to the bank's own statements, Kentucky Farmers Bank has "long been known as a top performing bank as well as one of the safest banks in the country," reflecting its conservative management approach and strong capital position throughout its history, including during the Great Depression and subsequent economic challenges.

Kentucky Farmers Bank

in the United States 🇺🇸

Crypto-Friendliness

All done!

About Kentucky Farmers Bank in the United States