Expansion Plan

THE PADUCAH BANK AND TRUST COMPANY has announced plans to enhance its current operations through a $1.25 million expansion that will include the acquisition and renovation of two properties on Jefferson Street.

expansionPlan“We have purchased the Allen Transmission building at 6th and Jefferson across from our Main Office and we have also acquired the Young Printing property at 614 Jefferson,” said Joe Framptom, CEO of Paducah Bank.

Work is well under way at the 8,000 square-foot former Allen Transmission building, with work expected to be complete by September 1. The Young Printing building has been demolished and the property will be warehoused for future use.

Due to the bank’s continued growth, Framptom said, “We needed to relocate several departments, namely our Trust, Private Banking and Investment Services areas. This expansion will free up much-needed space in our Main Office for the expansion of these customer service areas, and the acquisition of the new property will give our Opertaions Departments a new home for more efficient financial accounting and processing functions.”

Once the banks’s Operations Departments are relocated, work will begin immediately on renovating its  Main Office second floor. That work is slated to be finished by end of first quarter 2007.

“We could place our Operations Center anywhere in the county,” Framptom added, “but we are committed to the growth of our downtown neighborhood as an economic element in our city’s continuing business development.”

In addition to the downtown renovations, Paducah Bank recently upgraded its Lone Oak facility. Paducah Bank President Wally Bateman said growth in the Lone Oak neighborhood led the bank to retool their existing space. The community room was turned into customer service meeting rooms and a concierge desk was added. The bank also introduced a new high-powered multifaceted 24-hour ATM.

“It is really a fully functioning 24-hour bank,” said Information Technology Director Bill Clayton. “You can withdraw funds and you can also deposit checks and cash. And the best part about this ATM  is that you receive an imaged receipt validating your deposit.” The ATM will also accept multiple cash transactions and dispense four bill denominations.

“Our growth is only possible because of the many productive relationships we have built with our friends and neighbors over the years,” Framptom added. “The citizens of our community have turned to us for their financial needs and we want to continue to provide them with the very best financial services available anywhere. To us that means an investment in our physical ability to efficiently handle the bank’s back-office operations and our commitment to provide customer service that goes beyond expectations.”

Bateman said, “We believe when we invest in providing a quality work environment for our employee-owners, their happiness translates into great customer service.” Paducah Bank was recently named the #1 Best Place to Work among medium-sized companies by the Kentucky Chamber of Commerce and the Kentucky Society for Human Resource Management.

Dr. Scott Cawood, president of ModernThink, said after naming Paducah Bank The Best Place to Work, “Paducah Bank is a terrific representative for Kentucky as a great place to work, from their community involvement, engaged people, excellent leadership, or the fact that 100% of the employees are proud to work there, it is clear to me they have invested in creating a great organization where people want to work. They have a culture that is focused, energized, and worthy of distinction. Being a great place to work is not enough in and of itself to make any ModernThink Best Places to Work list. We also look at how well the organization performs in terms of productivity, communication, respect, and alignment— its overall ability to get things done. It is clear from the data we collected from Paducah that it is not only a great place to work, but also a great place to bank!”