Presidents Corner

Lloyd C. Hillard, Jr.

President and CEO



May 9, 2017 was our Annual Shareholders’ Meeting day. A good crowd turned out to hear about the economy and how it affects our Company and a post-consolidation update. The economy is showing signs of improvement, still struggling, but growing. Kentucky’s “Golden Triangle”, which contains our markets, continues to head Kentucky’s economy; Lexington, Louisville and Northern Kentucky have all experienced a stronger recovery than the state as a whole. This is positive for the financial growth of our Company. First quarter 2017 compared to the fourth quarter 2016, our net income (core earnings) was $3.6 million, or $0.48 per share, up $562 thousand or $0.07 per share. 

The key challenges and focus for our Company are:

  • Wise and prudent use of our Capital
  • Generation of quality loan growth
  • Generation of core deposit growth
  • Further reduction of nonperforming assets
  • Improvement in productivity and efficiency

I can reiterate a fact, post-consolidation: As I have said many times, one of our greatest strengths is our people. Customers tend to bank with individual bank employees. (Tellers, CSRs, Branch Managers, Lending Officers, Loan Processors, Trust Officers, Funds Transfer Experts, etc.) – These customer facing positions did not change – and no Branch locations were closed in the consolidation process.

The work ethic our employees demonstrated through the consolidation process is laudable, by integrating quality service and personal attention, their actions reassured our customers that the business of banking continues and will become even stronger. Besides the employees’ commitment to our company, the application of our values to their customers speak highly of the commitment they have to the markets they serve. The essential element in our culture of excellence is manifest in our new slogan: We are BETTER. UNITED.