History of Sacramento Deposit Bank
The Sacramento Deposit Bank was given the first authorization on October 14, 1895, by and between J.T. Morehead, Wilson & Gabbert, Coffman Brazzell Company, J.R. Vickers, G. Quisenberry, Gish and Igleheart, Wm. Jagoe Sr., T.W. Whitmer, A.J. Milan, J.A. Shutt, G.W. Martin, all of McLean County, Kentucky, and F.P. Stumm, J.T. Smith Jr., J.D. Cooper, Ike C. Adair, and W.L. Graves, all of Ohio County, Kentucky. The business of the company was to be discounting and negotiating notes, drafts, bills of exchanges, and other evidence of debt, purchasing bonds, receiving deposits and allowing interest on same; buying and selling exchange coin and bullion, and lending money on personal and real security.
The company started with $15,000.00 in capital stock divided into shares of $100.00 each and transferable only on the books of the company. The company commenced business on February 17, 1896, with total deposits of $3,172.62.
On February 20, 1896, the bank purchased a stove for $9.60 and a safe for $9.00. On February 28, 1896, the bank purchased $1.00 in stamps, a coal bucket and shovel for $0.60, a broom for $0.10, a towel for $0.15, and a bucket and dipper for $0.15.
Past officers of the bank include H.W. Gatton, A.P. Stroud, John T. Bibb, W.R. Jagoe, H.A. Moorman, S.E. Barrett, W.H. Moore, C.T. Shank, H.L. Stumm, and E. Barnett.
In 2016, Sacramento Deposit Bank entered into an agreement to purchase The Bank of Caneyville in Caneyville, Kentucky, bringing its services to the people of Grayson County and increasing its assets to nearly $120 million.
The present directors are Charles Gatton Jr. (Chairman), Bernie Crumbaker, Bill Quisenberry, Brent Gatton, Kenneth Lee, Kathy Gish, and Michael Hunt.
The bank’s assets as of December 31, 2021 were $134 million.
Sacramento Deposit Bank, shown here in the early 1900s, operated at this location until 1967.
Sacramento Deposit Bank in the mid-1960s.
The new Sacramento Deposit Bank was built on the present site in 1967, with additions constructed in 1985 and 2000.
Sacramento Deposit Bank acquired the Bank of Caneyville in 2016, bringing a new roster of banking services to Grayson County and surrounding areas.