Lewisburg Banking Company was chartered on February 10, 1894. There were 35 original stockholders. The bank was chartered with 150 shares with each share selling for $100; thus making a capital investment of $15,000.
An organizational meeting of the stockholders of the proposed banking company to be located at Lewisburg, Logan County, Kentucky, was held in Lewisburg, February 24, 1894. T.S. Proctor was appointed Chairman Pro Tem and R.E. Glenn, Secretary. W.B. Smith explained the object of the meeting which was to organize a banking institution to be located at Lewisburg, Kentucky. The stock being all subscribed and a majority of it represented, a motion was made and seconded for the Chairman to appoint a committee of three to draft a charter. The committee consisted of W.B. Smith, R.W. Newman and J.W. Hutchings.
The first directors were: Dr. J.W. Hutchings, J.W. Stuart, T.S. Proctor, O.A. Bland, R.W. Newman, J.F. Barrow, J.W. McReynolds, J.A. Simmons, G.W. Milam and J.S. Depoyster. The men were also the major stockholders of the bank. Dr. J.W. Hutchings was elected first bank President, W.B. Smith was elected first Cashier at $1000 per year for his services. Most of these officers continued in their positions until after the turn of the century
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154
