The Farmers and Mechanics Bank was established during January 1818 when the Legislature authorized the establishment of private banks. John Wesley Hunt (see Profiles) was the bank's only President, serving until 1829. This bank was the only bank in Lexington to survive the Panic of 1819, but it was ordered to cease operations by the Legislature during 1822. The bank finally closed in 1829, after taking seven years to wind up its affairs.
References:
William M. Ambrose, First Security National Bank & Trust Company (1835-1992), Limestone Press, Lexington, 2007.
