Corinth Deposit Bank

The Kentucky Legislature granted a charter for the creation of Corinth Deposit Bank (1890-1988) on March 19, 1888. W. H. Daugherty, A. Bean, J. M. Minor, W. W. Scott, J. W. Lancaster and W. H. Childers were appointed as commissioners to sell subscriptions for capital stock. The bank was organized on November 26, 1889 and was located on Main Street in the north end of town in the Harris-Jones Storehouse, which had been bought for $1,000 in 1889, along with a bank safe for $900.00. The first president was Dr. W. H. Daugherty, a local physician. G. W. Trimnell became the first cashier and served in that capacity for a number of years. Both Daugherty and Trimnell were also members of the Board of Directors for the Corinth Academy (1878-1906), a training school for teachers.

On December 21, 1905, Corinth Deposit Bank discovered that it had been robbed. Stolen from the bank were $1000 in gold, $100 in coins, and $500 in paper currency. The robber had used nitroglycerine to blow the safe. “Toronto Jimmy”, a notorious safe blower, was arrested for the bank robbery, tried, but was later acquitted for insufficient evidence.

In June 1925, the bank bought a three-story brick building downtown from the Knights of Pythias Lodge #30 of Corinth, and held a grand opening of the new facility in 1926. In 1931, the Kentucky Department of Banks proposed a merger of Corinth Deposit Bank and Farmers Bank of Corinth but the merger was never solidified. Several years later Farmers Bank of Corinth was liquidated, leaving Corinth Deposit Bank as Corinth's sole bank until 1987.

On December 15, 1988, Corinth Deposit Bank surrendered its banking charter and began transferring assets and accounts to the Corinth Deposit National Bank. Transfer of ownership to the Corinth Deposit National Bank was effective on April 20, 1990, providing Corinth Deposit Bank's customers “continuous uninterrupted service” with Corinth Deposit National Bank.

We found this in a description of the records of the bank.  The old bank records and ledgers have all been deposited with Kentucky Historical Society, and the above is a part of their description of the records.