Fredonia Valley Bank History

     

Serving your Community for 120 years!

 

      On October 30, 1894, a group of men consisting of S.H. Cassidy, W.F. McMurray, H.E. Rice, D.T. Byrd, W.C.Rice, J.C. Elder, J.T. Woolf, William M. Green, S.C. Bennett, A. Boaz, H.C. Rice, W.B. Bennett, M.B. Lowery, and A.S. Threlkeld met for the purpose of organizing a bank in Kelsey, KY. A committee was appointed to solicit stock subscriptions. One hundred and fifty shares of stock were subscribed to twenty-six original stockholders.

      On November 7, the group met again. The bank was officially named The Fredonia Valley Bank of Kelsey, KY. At this time a lot was purchased from Kate Maxwell for $300.00 to be paid in bank stock of three shares at $100.00 each. The lot was located on Crider Street and Cassidy Avenue. Besides the vacant area purchased for the purpose of constructing a bank building, the building known as the Barber Shop was also located on the lot. The Fredonia Valley Bank of Kelsey, KY, opened it's doors for buisness on January 24, 1895. The officers were President-D.T. Byrd; Vice President-J.H. Rice; Cashier-H.E. Rice; Secretary and Assistant Cashier-J.C. Elder, Jr.

      Following the Great Depression, it was decided to liquidate the bank.However, due to local interest the action to close the bank was recinded, and seven new directors were elected. They were T.A. Bugg, William Young, Clay Norman, G.W. Hill, J.F.Akridge, F.E. Jones and V.E. Coleman. The new officers were President-V.E. Coleman; Vice President-William Young; and Secretary-Seth Wigginton.

     

 

 In 1958, an addition was built on that included a new vault, director's room, bathroom, and storage room. The vault is still used to this day. Employees were President-V.E. Coleman; Cashier-W.W. Gillihan; and Assistant Cashier-Leon Brasher.

      Leon Brasher was promoted to president in 1970 and served as president until 1994. In 1984, a new addition was added to include a drive-thru, night deposit, loan department, kitchen and bathroom. Directors at this time were: Leon Brasher, J.D. (Dan) Bugg, Sr., Gilford Patton, Dean Akridge, William H.(Sam) Young, Fount A.(Tony) Young, and J.D.(Tucker) Bugg, Jr. 

      In 2000, a branch bank was added in Eddyville. Tom Jones moved from Fredonia to become manager at the Lyon County location. Today, the bank is the only independent bank located in Lyon County. 

      Presently, the management team of Fredonia Valley Bank includes J. Brent Bugg-President/CEO; Thomas E. Jones-Sr. Vice President; Steve Stewart-Vice President; and Cindy Cruce-Assistant Vice President/Cashier. Brent was hired as President in 1996 following the tragic death of Paul F. Riley, who served as President from 1994 to 1996. 

      The present Directors are Baron Guess-Chairman, J. Brent Bugg, Thomas E. Jones, Kim Brown, Edward Young and Gary Holland. The bank underwent a major interior remodel when we celebrated our 115 year anniversary. Presently, there are 17 full-time employees and 2 summer employees. The bank continues to serve the tri-county area as one of the few remaining independent financial institutions and looks forward to many more productive years in the Fredonia and Eddyville communitites. 

   

 

      

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