History

The Commercial Bank of Grayson began business in early 1891, filling a void as Grayson had no financial institution. On May 1, 1891, the bank's first available statement of condition showed total assets of $15,882.70. The need for the bank and its acceptance by the community was demonstrated by its early success. The first cash dividend was paid to stockholders on July 2, 1894. Since that date, a cash dividend has been paid every year. No additional stock has ever been sold-increases have come through retained earnings.

Since the bank began business during the term of Benjamin Harrison, it has served its customers continuously. The doors of The Commercial Bank have remained open through numerous recessions, money panics, and the Great Depression. In over a century of service to Carter County, The Commercial Bank has continued to provide its customers a wide array of financial services. As times have changed, so too have the products desired by, and made available to, our customers. The Commercial Bank has remained at the forefront of the financial industry's modernization in order to better serve current customers and attract new ones. Today, the bank remains independent and locally-owned-Grayson's second oldest business and Carter County's largest financial institution.

Twenty-six local citizens invested in the original capital stock of the bank. The original Directors of the bank included Winfield Scott, Dr. A. T. Henderson, J. W. Hord, Mrs. Oliva A. Prichard, J. W. Burnett, R. M. Reid, Joseph Rupert, Jr. and Dr. John Wilson Strother. Dr. Strother was the principal stockholder and became the Chairman of the bank’s first Board of Directors and the bank’s first president. He was an active physician, farmer and lay preacher. Dr. Strother served as bank president until his death on January 8, 1935. In addition to Dr. Strother, the bank’s original employees included Winfield Scott - Cashier and W. H. Mitchell - Assistant Cashier. 

Since Dr. Strother’s term as bank president, three others have served in the same capacity including Wick H. Strother (1935-1956), Jack W. Strother (1956-1982) and Jack W. Strother, Jr. (1982-present). The bank's current Board of Directors includes Jack W. Strother, Jr. (Chairman); R. Fred Buck; Phyllis H. Davis; Mary Blanche Jungers; Von Loy Kiser , Samuel J. Perry, and Mark D. Strother. Director Emeritus is Jack W. Strother. The bank's executive officers include Jack W. Strother, Jr. - Chairman, President & CEO; Linda Arnett - Vice President (Operations); and Mark D. Strother - Vice President & Security Officer. The executive officers work with a staff of 70 professionals whose top priority today remains what it was in 1891 - quality service for their customers and communities. 

The original bank was located at what is now 102 West Main Street, Grayson. On April 11, 1892, The Commercial Bank moved to what is now 106 E. Main Street, Grayson and remained in that location for 89 years. On November 23, 1981 the bank’s Main Office moved to 208 E. Main Street, Grayson. The Commercial Bank’s first branch was opened on January 5, 1976 at 109 N. Carol Malone Boulevard, Grayson. This same branch underwent a dramatic renovation in 1997. On December 3, 1987, The Commercial Bank acquired the former Peoples Bank of Olive Hill, thus enabling the bank to better serve the western part of Carter County.

 

 

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