The Central Bank was established during 1938 by Jefferson Davis Purcell, of the Purcell Company, as the Southern Industrial Loan Company. Mr. Purcell was formerly associated with the Third National Bank. The bank operated for a period as the Central Exchange Bank. During 1945, Garvice D. Kincaid purchased the bank and changed the name to the Central Bank. Mr. Kincaid obtained the financing to purchase the bank from the First National Bank and Trust Company.
References:
William M. Ambrose, First Security National Bank & Trust Company (1835-1992), Limestone Press, Lexington, 2007.
