For the sixth consecutive year, Paducah Bank holds the highest market share for financial institution deposits in Paducah/McCracken County. At June 30, 2016, Paducah Bank held a 32.6% share of the local market for bank deposits. That is an increase of more than $26 million from 2015 and an increase of more than $42 million from 2014. The next closest financial institution in the ranking from the FDIC is U.S. Bank with 21.3% market share.
“These are excellent numbers, and we are very proud of our ranking among the financial institutions in our community,” commented Mardie Herndon, President of Paducah Bank. “However, the thing we most value about this report is the trust of our customers that it represents. This growth in deposits and market share is a testament to the belief our customers have placed in us for their most important assets. We honor that statement of faith in our bank and our people. And we continue to work hard to develop the kinds of products and services that we know meet the needs of the people of our community.”
Paducah Bank also currently holds two other top rankings. The bank is the number one producer of small business loans in the city and county and is the number one mortgage lender in the community. Joe Framptom, Paducah Bank CEO, credits the bank’s team of motivated staff for its top-tier rankings. “Many important decisions are made at the department level,” Framptom says. “We hire the right people and then empower them to provide leadership in their areas of expertise. We concentrate on taking care of both our employees and our customers. And that translates into excellence on all levels.”
Paducah Bank is an award-winning, locally-owned bank with six locations and 11 ATMs throughout the community. Paducah Bank employs more than 150 people. In 2008, Paducah Bank was chosen by the Wall Street Journal as one of the nation’s Top 15 Small Workplaces. In 2013, the bank was named as one of the Top 10 Banks in the nation for the effective use of `social media by the Independent Community Bank Association.