The Citizens Union Bank and Trust Company was formed in 1955, with the consolidation of the Union Bank and Trust Company (which see) and the Citizens Bank and Trust Company (which see). In August 1958, the Citizens Union converted from a state to Federal charter and changed its name to the Citizens Union National Bank and Trust Company.
In 1958, the bank also joined the Federal Reserve System. In 1972, the bank relocated to the Citizens Union Square on Vine at Upper Street.
In November 1982, controlling interest in the bank was acquired by Jake Butcher, a Knoxville banker. Mr. Butcher was instrumental in organizing the 1982 World's Fair in Knoxville. The bank's name was changed to the United American Bank of Kentucky, N. A. In February 1983, Mr. Butcher was forced to give up control, when his flagship bank in Knoxville was seized by regulators.
In March 1983 Tracy Farmer, a Cynthiana businessman and banker, purchased the bank and changed its name back to the Citizens Union National Bank and Trust Company. In April 1985, he sold the bank to a group of investors that included James M. Hill, IV and Mickey W. Taylor, owners of the Triple Crown winner Seattle Slew. The next year the bank was acquired by Bank One.
