The mission of First Commonwealth Bank is to be a sound, locally-owned, community bank, dedicated to exceeding the expectations of our customers, our shareholders, our employees, and our communities.
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 ten locations throughout Floyd, Johnson, Magoffin, Martin and Pike Counties.
|Robert E. Stanley||1904-1917|
|Andrew Jackson May||1925-1926|
|Beriah Magoffin Spurlock||1926-1927|
|Henry Stephens, Jr||1940-1945|
|Burl Wells Spurlock||1976-2000|
|Greg A. Wilson||2000-Present|
Present Board of Directors
Burl Wells Spurlock, Chairman
Estill Lee Carter
Charles W. Miller
Edward R. Nairn
Rudolph Ousley, DVM
Burl Wells "Beau" Spurlock II
Greg A. Wilson
Original 22 Shareholders
Dr. W. R. Callihan
Dr. M.M. Collin
Robert E. Stanley
Mary V. Martin
Beriah M. Spurlock
Jim B. Stephen
J.M. “Bart” Weddington