The Third National Bank of Lexington was established in August 1883 with the nationalization of the private banking firm of Grinstead & Bradley. The bank's initial capital was one hundred thousand dollars, with the Comptroller of the Currency assigning charter number 3052. John W. Berkley was elected President, with J. G. Kinnaird, Vice President; Oliver L. Bradley, Cashier and Louis des Cognets, Assistant Cashier. The bank's doors opened for business on August 27, 1883. In December 1883, James H. Shropshire replaced Oliver L. Bradley as Cashier.
National Bank Note, Red Seal, Series of 1902
During 1903, William J. Loughridge was elected President by the Board of Directors after the death of Mr. Berkley. In September 1905, the directors of the Third National Bank and Central Bank unsuccessfully attempted to consolidate, and shortly afterwards, the Central Bank merged with the National Exchange Bank. In April 1906, the directors doubled the bank's capital from one hundred thousand to two hundred thousand dollars. On June 16, 1906, plans were announced to erect a new bank building on Main Street, near Limestone, and in October 1906, construction began. Two years later the bank was finally able to move into its new building, after several delays in construction.
National Bank Note, Date Back, Series of 1902
On July 2, 1908, the directors again attempted a consolidation, this time with the First National Bank. Six days later on July 8, 1908 the merger was postponed as the directors of both banks were unable to agree on terms. Younger Alexander was elected President during 1910. Then on February 25, 1911, the Third National and Phoenix National Banks were consolidated into the Phoenix & Third National Bank.
