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ABOUT US

 

Mission Statement

The mission of First Commonwealth Bank is to be a sound, locally-owned, community bank, committed to exceeding the expectations of our customers, our shareholders, our employees, and our communities.

 

History

The doors of First Commonwealth Bank, then named First National Bank of Prestonsburg, opened to their very first customer at 9 AM on June 8, 1904 in a spare, upstairs room of a Prestonsburg Law Firm.  By 1909, construction had begun on a “banking house” location at Front and Bridge Street which was a prime piece of real estate, being located next to the river and the bridge linking downtown Prestonsburg to the railroad by which most people traveled.  By June of 1920, confidence in the bank had grown to necessitate an addition to the existing building.  In 1923, a ticket office for the C&O Railway was added to the Bank as well as space for Western Union Telegraph.
 

Seeing the post-war population growth on the horizon, as well as the need to once again provide customer convenience, the Board of Directors resolved in 1952 to relocate the Main Office to the northeast corner of the intersection of North Lake Drive and Court Street.  The logic of the move was that the heavily traveled US 23, also known as the Mayo Trail, would soon be at the new building’s doorstep.  In September of 1953, the new banking headquarters on North Lake Drive and Court Street opened for business.
 

During the remainder of the 1950s through the 1970s the Bank’s assets grew from $5 million to $63 million by 1976.  As the Bank’s business grew, so did the need for branch locations.  From the early 1960s to mid-1970s, the bank added three new branch locations in Martin, Betsy Layne and Prestonsburg.
 

On April 7, 1980, the Bank converted from a National charter to a State charter and accordingly became First Commonwealth Bank.  Not long after, land was acquired with the stated purpose of constructing a new banking headquarters.   In October 1986, the new 5-story Main Office opened for business at a location next to the river and the railroad, just two blocks from the original bank location.
 

In 2006, First Commonwealth Bank announced it had acquired property in Pikeville with plans to build a new branch in order to reach out to the Pike County community.  On June 19, 2007, it opened the doors to the Pikeville Branch.  This marked First Commonwealth Bank’s first step outside of Floyd County.
 

On April 21, 2011 First Commonwealth Bank acquired Family Bank, FSB of Paintsville.  This merger has allowed First Commonwealth Bank to more conveniently serve the Big Sandy area with eleven locations throughout Floyd, Johnson, Magoffin, Martin and Pike Counties.

 

Presidents

Robert E. Stanley
Hiram Harris
Andrew Jackson May

Beriah Magoffin Spurlock



George Hale

B.F. Combs
Henry Stephens, Jr
Burl Spurlock
Russell Hagewood
Burl Wells Spurlock
Greg A. Wilson

1904-1917
1917-1925
1925-1926
1927-1928
1926-1927
1929-1931
1932-1936
1945-1954
1928-1929
1931-1932
1936-1940
1940-1945
1954-1972
1972-1976
1976-2000
2000-Present

 

Present Board of Directors

Burl Wells Spurlock, Chairman
Dewey Bocook
Estill Lee Carter
Charles W. Miller
Edward R. Nairn
Rudolph Ousley, DVM
Burl Wells "Beau" Spurlock II
Greg A. Wilson

 

Original 22 Shareholders

J.A. Akers
Jake Allen
Dr. W. R. Callihan
Dr. M.M. Collin
Sam Hale
Robert May
A.J. May
P.E. May
Ollie Powers
Robert E. Stanley
Jonah Webb
G.J. Allen
T.G. Allen
A. Carter
James Goble
Lee Hall
Mary V. Martin
Ballard May
L.P. Mayo
Beriah M. Spurlock
Jim B. Stephen
J.M. “Bart” Weddington