Commerce National Bank was established in 1986, by the merger of the Second National Bank (organized in 1883) and the Bank of Commerce and Trust Company (organized in 1911). The bank was affiliated with the First National Bank of Louisville.
The Second National Bank was chartered by the Comptroller of the Currency on March 15, 1883 and operated for a number of years on Cheapside. The first Board of Directors included James Hunt James (President), Jacob Hughes Graves (see Profiles - Jacob Hughes), William Warren, Isaac Smith, R. M. Davis, Charles W. Foushee (Lexington’s Mayor) and R. A. Thornton. For a number of years the bank was controlled by the Graves family.
National Bank Note, Plain Back, Series of 1902
National Bank Note, Red Seal, Series of 1902
In 1982, the bank relocated from its original location on Cheapside to the newly completed Second National Plaza (later renamed Commerce National Plaza). The Second National Bank was acquired in 1986 by the First Kentucky National Corporation.
The Bank of Commerce and Trust Company was organized in December 1911 and was located on Main Street, opposite the Phoenix Hotel. On January 7, 1921, a false rumor of the bank's insolvency caused a run on the bank. The Lexington Clearing House set up a consortium of banks and businessmen to advance the necessary funds to stop the run. These banks included the First & City National Bank, Fayette National Bank, Third National Bank and Security Trust Company. The Bank of Commerce was acquired on August 1, 1985 by the First Kentucky National Corporation.
