The area's leading online source for news!
Louisa-Lawrence Co, KY

In God We Trust - Established 2008

Menu

March 18, 2015

 

Citizens bank of Blaine will close in June, spokesperson says

 

After serving the Blaine area for over 100 years,, the Bank of Blaine will be officially closing its’ doors for good.

On Wednesday afternoon, officials with Citizens National Bank, formerly known as People’s Security Bank, announced that effective June 19th, 2015 at 2pm the Blaine branch will no longer be open for business.

As previously reported Citizens National Corporation (OTCQB: CZNL), the holding company for Citizens National Bank, Paintsville, Kentucky, and Peoples Security Bancorp, Inc., the holding company for The Peoples Security Bank of Louisa, Louisa, Kentucky, announced their agreement in August that Peoples Security be acquired by Citizens in a merger involving Peoples Security and a Citizens subsidiary.

While CNB had originally announced plans to extend banking hours to be open daily, officials say that is no longer an option.

“The employees at the location are resigning and no one was willing to relocate to the area nor have we opened up any other positions,” said Pam Butcher, Senior Vice President of Retail Banking. 

Effective March 30th, the branch will be open on Monday and Friday from 10am-2pm until the official close date on June 19th.  

The branch has years of history in the area and local residents say they are sad to see it go. 

“It’s just a shame that there was a bank here for years and Citizens comes in, takes it over and two months later shuts the doors,” said one resident.

It’s going to be a big inconvenience to a lot of people,” said another. “I will definitely be taking my business elsewhere.”

As of now, bank officials aren’t sure what will become of the actual building. 

“We talked of donating it to a local historical society, but haven’t been able to find a specific group within the county,” said Butcher. “There’s a possibility of selling, however at this time we are unsure of what the final decision will be.”

According, to People’s Security Bank's former website, the history of the bank begain in  mid-winter of 1903, an egg shaped Corliss safe was bought in Cincinnati and shipped by the C & O and Eastern Kentucky railroads to Webbville, KY. Once at Webbville, The Blue Goose (train) was met by Harris Moore and the safe was unloaded off the freight car. From there the safe was pulled twelve miles over several days to its temporary location, The Gambill Store in Blaine, KY.

“The Bank of Blaine”, as it was originally called, had $15,000.00 for its’ beginning assets.  Never faltering, the bank prevailed through various struggles of the 30’s and 40’s, including the Great Depression, World War II, and other economic trials that affected so many other parts of our country, but they never closed their doors, nor did they recognize the “bank holidays” of those times. People of the region and the area’s resources, of coal, farming, gas, oil, and timber, are accredited to the banks 100 years of service and success.

According to Butcher, there will be no changes to the other CNB locations. 

ELECTRICITY:

 

Consumers trapped in the middle of Big Coal's fight for survival


"I've helped folks with $1,400 electric bills, and we've cut their bills in half," Woolery said, twisting his tall frame inside the packed shoebox to get closer to the state representative from Lexington.

Electricity rates are going up here, and the rising energy costs have grabbed the attention of grass-roots organizers like Woolery in a state where 93 percent of power generation comes from burning coal.

Woolery, a soft-spoken 43-year-old efficiency contractor and former builder, let his stories land softly as he folded a message about energy savings inside a more palatable pitch for legislation to spur job creation in rural Kentucky.

"We go in and finance it on their electric bills," Woolery explained. "Now they're paying for upgrades instead of kilowatt-hours. That creates economic development if we can get it to scale."

The doors chimed open. "It's exciting and a blessing to help people," he told the legislator.

Through the Mountain Association for Community Economic Development, or MACED, Woolery helps run a small program that partners with rural electric cooperatives to finance energy efficiency retrofits for poor and moderate-income people. MACED, based in the small college town of Berea, aims to stimulate economic growth in ways that support sustainable energy development.

The virtue of a coal-based economy is still gospel in Frankfort. But organizers here say efforts to wall off the state's coal-dependent utilities from competing sources such as natural gas and distributed solar power are leading to higher costs for Kentucky's poorest communities.

In homes across rural Kentucky, air poured in through poorly sealed ducts this winter, driving up utility bills during peak hours.

"The leakage rate is close to the square-footage of the house," Woolery said, explaining how a large Georgian-style house in northern Kentucky could amass a $1,400 electric-heating bill during the 2014 polar vortex, his most extreme example of inefficient housing.

Woolery grew up visiting his grandparents in eastern Kentucky's coal country, which for decades has been a focus of anti-poverty campaigns aimed at improving conditions in rural Appalachia.

READ MORE

(Energy and Environment News is a subscription-only, non-ideological service that is widely read by people around the country and has made this story available for free.)

February 4, 2015

Over the past few months Lycom Communications, Inc. has notified our subscribers in Louisa, KY and Prichard, WV of our digital transition. You may have noticed channels located from 26-42 missing from your analog lineup.  These channels are now located in the 100’s in clear digital format. 

If you are experiencing difficulty in programming your TV or you need a converter box to receive these channels please call 638-3600.  We have made this change to bring you High Definition and Standard Definition digital picture.  Please visit our Facebook page facebook.com/lycomonline for updates of further changes. 

 

3/10/2015

Ky. Power to offer incentives to new busiesses who locate here 

 

FRANKFORT, Ky., – The Kentucky Public Service Commission has approved Kentucky Power’s request to create an Economic Development Rider tariff to facilitate new commercial and industrial projects within its service territory.

The rider, which was approved March 4, is limited to new or existing large commercial and industrial customers who implement new production projects.

“We are pleased the Kentucky Public Service Commission saw the value in our proposal to facilitate location and expansion offers throughout Eastern Kentucky,” said Greg Pauley, Kentucky Power president and chief operating office. “Kentucky Power takes great pride in working with local, regional and state organizations to promote economic growth in the communities we serve. This program will help promote stronger local economies to bring in new jobs and businesses.”

To qualify, each new investment must create at least 500 kW of new maximum billing demand over a base level and could receive a temporary demand charge discount of up to 50 percent depending upon the length of the contract. In addition, a supplemental demand discount of up to 5 percent may be available for customers who create and sustain 50 or more new jobs.

Creating and sustaining at least 25 new jobs may qualify for a reduced supplemental demand discount. The customer must demonstrate that without this incentive, the qualifying new or increased investment and the associated electrical demand would be located outside the company’s service territory or would not be placed in service.

The Economic Development Rider requires a special contract that must be approved by the Kentucky Public Service Commission prior to taking effect. The contract period may extend for up to 10 years and the ensuing discount period may not be more than half the contract period, among other requirements.

The company is advancing the communities it serves in Eastern Kentucky through multiple contributions and economic development projects. Kentucky Power is an active participant in the Shaping Our Appalachian Region (SOAR) initiative created by Gov. Steve Beshear and Rep. Hal Rogers, R-Ky. SOAR’s goal is to improve the economy and quality of life in the region. Kentucky Power also has partnered with 12 regional and local banks to finance up to $75 million in capital projects and further promote area economic development.

Kentucky Power has made other key contributions to economic development efforts across the region, including the Ashland Alliance, Southeast Kentucky Chamber, and the new regional economic development project, One East Kentucky. Kentucky Power also has commissioned two economic development studies for the region that has provided significant guidance in developing new economic development strategies in eastern Kentucky. The company currently has a third contract with an economic development site consultant assisting the region with preparing the East Park (Ashland), Marion’s Branch (Pikeville) and Coalfields (Hazard) industrial parks for job creation and additional investments.

In 2013, the AEP Foundation contributed more than $300,000 for the construction of the Coal Building at the University of Pikeville, School of Osteopathic Medicine expansion. In total, Kentucky Power has invested approximately $900,000 for economic development efforts in eastern Kentucky since 2012.

Last year through the Kentucky Power Economic Advancement Program (KEAP), which is funded by AEP shareholders, three Eastern Kentucky projects – the Big Sandy Area Development District, the City of Paintsville and the Louisa Chapter Southeast Kentucky Chamber of Commerce – received a total of $200,000 to spur growth. Kentucky Power has already kicked off the KEAP program for 2015 that will provide an additional $200,000 for projects this year. In addition to the $200,000 annually for five years, the company is contributing $33,000 annually for five years to the Ashland Community and Technical College and the Big Sandy Community and Technical College for job training. The KEAP program will invest more than $1 million into the region over five years, from 2014 to 2018.

“We take seriously our role as a partner for progress in the areas we serve,” Pauley said.

Business customers seeking more details can contact Brad Hall, Kentucky Power’s external affairs manager for economic and business development at 606-437-3790, or This email address is being protected from spambots. You need JavaScript enabled to view it..">This email address is being protected from spambots. You need JavaScript enabled to view it..

Kentucky Power, with headquarters in Frankfort, Ky., provides service to approximately 171,000 customers in all or part of 20 eastern Kentucky counties. It is a unit of the AEP system, one of the largest electric utilities in the United States, with more than 5 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a nearly 39,000-mile network that includes more 765 kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined.

MARCH 03, 2015


PNC Bank announced on Monday in its 2015 Corporate Responsibility Report that it "will substantially cut its financing of coal companies that practice mountaintop-removal mining," Justine McDaniel reports for The Philadelphia Inquirer. "The bank will not extend credit to coal producers with 25 percent or more of their production from mountaintop-removal mining, the report says. Its previous policy excluded only producers for which mountaintop-removal mining was the majority of production. PNC also will not finance individual mountaintop-removal mining projects, continuing a policy implemented in 2010."

PNC lent an estimated $210.5 million in 2013 to companies that do mountaintop removal and $687.5 million in 2012, having funded some of the top coal producers, including Arch Coal and Alpha Natural Resources, McDaniel writes. Eileen Flanagan, a board member of the Earth Quaker Action Team, said pressure from her organization led to PNC's decision. She said supporters of Earth Quaker have removed more than $3.5 million from the bank by closing their accounts in protest. A PNC spokesperson refused to comment on Earth Quaker's influence on the decision. (Read more)

Written by Tim Mandell Posted at 3/03/2015