Cumberland Valley National Bank

CONGRESSIONAL RECORD
SENATE
Sept. 27, 2004

CUMBERLAND VALLEY NATIONAL BANK

Mr. MCCONNELL. Mr. President, I rise today to recognize the Cumberland Valley National Bank on its one hundredth anniversary as a premiere financial institution in the heart of southeastern Kentucky.

On October 1, 1904, the East Bernstadt Banking Company, as it was known then, opened its doors with capital stock of $15,000. Within 8 years their capital stock had jumped to $25,000 and they underwent their first name change, to the First National Bank. This was just the beginning of several expansions and name changes.

In spite of the closing of major coal mining operations in East Bernstadt, the First National Bank remained quite successful and moved from East Bernstadt to the Catching Building in London, becoming, ironically, the Second National Bank of London. In the years that followed, their capital stock continued to rise. By 1951, the bank reached a milestone with $100,000 in capital stock. In 1959, the Second National Bank opened its first branch location, the North London Branch and added a third location in 1974. Because it was able to establish itself as one of the premiere banking institutions in Laurel County, the bank decided to change its name again, this time to its current name the Cumberland Valley National Bank.

Today, the Cumberland Valley National Bank has twenty locations to serve the people of Laurel County. While the bank has changed its name several times over the last 100 years, it has never changed the impeccable service it provides its customers. This is due in large part to the hundreds of former and current employees who have strived to make this bank a cornerstone of Laurel County.

Today I ask my colleagues to join me in honoring the Cumberland Valley National Bank, the largest locally owned bank in southeastern Kentucky, for its one hundred years of business. I wish them another one hundred years of success.