Question 1

What is Bank of the Mountains?

Accepted Answer

Bank of the Mountains is a community bank serving rural eastern Kentucky, headquartered in West Liberty. Established in 1973, the bank operates three full-service branches in Morgan County, providing traditional banking services to individuals and small businesses in the mountainous regions of Kentucky. With approximately $97 million in assets, the institution focuses on relationship banking and personalized service to its local community.

The bank is part of a bank holding company structure (RSSDHCR 1071249) and has built its reputation on understanding the unique financial needs of Appalachian communities.

Question 2

When was Bank of the Mountains founded?

Accepted Answer

Bank of the Mountains was founded on September 15, 1973, during a period of economic development in rural Kentucky. The bank was established to serve the banking needs of Morgan County and surrounding mountain communities.

For over 50 years, the institution has maintained its commitment to local ownership and community-focused banking, providing financial services to a region that has historically been underserved by larger financial institutions.

Question 3

Where is Bank of the Mountains headquartered?

Accepted Answer

Bank of the Mountains is headquartered at 204 Court Street in West Liberty, Kentucky. West Liberty serves as the county seat of Morgan County in the eastern part of the state.

Question 4

Where does Bank of the Mountains operate?

Accepted Answer

Bank of the Mountains operates three full-service branches throughout Morgan County, Kentucky. The main office is located at 204 Court Street in West Liberty, with additional branches at the Index Banking Branch on U.S. Highway 460 in West Liberty and the Ezel Banking Branch at 38 Meeting House Branch Road in Ezel.

All three locations serve the rural communities of Morgan County and surrounding mountain areas of eastern Kentucky. The bank maintains its focus on serving the local communities where many residents have deep family roots.

Question 5

What services does Bank of the Mountains offer?

Accepted Answer

Bank of the Mountains offers a comprehensive range of traditional banking services including business checking, senior citizen accounts, student checking, passbook savings, money market checking, and certificates of deposit.

The bank provides various lending services including home-loan mortgages, agriculture loans, installment loans, home equity loans, business loans, auto loans, and vacation loans. This diverse loan portfolio addresses the varied financial needs of rural communities.

Bank of the Mountains emphasizes personal service and local decision-making. Customers have direct access to bank officers and decision-makers, reflecting the institution's community bank philosophy. The bank operates traditional branch banking with extended hours at its main West Liberty office on Fridays and Saturday morning hours.

Question 6

What makes Bank of the Mountains unique?

Accepted Answer

Bank of the Mountains distinguishes itself through its deep commitment to serving rural Appalachian communities in eastern Kentucky. The bank has maintained local ownership and control for over 50 years, with leadership including President Jody Tracy and Vice President Travis Stacy who understand the unique needs of the region.

The institution operates as a true community bank, with decision-making authority retained locally rather than at distant corporate headquarters. This allows for more flexible and personalized approaches to lending and customer service.

Bank of the Mountains has demonstrated consistent profitability with a return on assets (ROA) of 1.02% and return on equity (ROE) of 10.61%, indicating sound management and healthy operations. The bank is a member of the Federal Deposit Insurance Corporation (FDIC) and operates as an Equal Housing Lender.

Question 7

What type of financial institution is Bank of the Mountains?

Accepted Answer

Bank of the Mountains is a State Chartered Commercial Bank regulated by the Federal Reserve. The institution operates as a traditional community bank, focusing on serving the deposit and lending needs of individuals and small businesses in rural Kentucky.

As a state-chartered bank that is part of a bank holding company, Bank of the Mountains maintains the operational flexibility of state banking laws while benefiting from the oversight and stability of Federal Reserve supervision. The bank has been FDIC-insured since its founding, providing deposit protection up to regulatory limits.

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