The Phoenix & Third National Bank of Lexington was formed in February 1911 from the consolidation of the Phoenix National Bank and Third National Bank. J. Waller Rodes was the Bank's first President and Fred G. Stilz the Cashier. The consolidated bank continued to operate under Third National's charter, number 3052, and used the Third National Bank's building on Main Street. On July 12, 1911, the directors declared a four percent dividend, the first since the merger. William L. Threlkeld (a son-in-law of Squire Bassett) served as the Cashier, from 1913 to 1916.
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In 1914, Younger Alexander was elected President to replace the retiring Mr. Rodes. In early November, the bank subscribed twenty four thousand dollars to join the Federal Reserve System. On November 30, 1914, the Phoenix & Third National Bank was the first bank in Lexington to receive the new Federal Reserve notes. It received a small quantity of the new five dollars bills, which were used primarily as Christmas gifts. Mr. Alexander was succeeded in 1916 by William A. McDowell as President. In January 1920, the bank purchased the Cassell property, occupied by Caskey Jewelry, and began planning a new building.
The Phoenix & Third National Bank merged in June 1922 with the Phoenix & Third Trust Company to form the Phoenix National Bank and Trust Company.
National Bank Note, Plain back, Series of 1902
National Bank Note, Plain back, Series of 1902
