March 18, 2015
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.
Who actually started the bank? Was Milton Kitchen involved?