A BRIEF HISTORY OF INEZ DEPOSIT BANK
Chartered in 1904, Inez Deposit Bank opened its doors with two
employees and $15,000 in capital. During the first half of the twentieth century, the bank experienced a steady but modest growth,
as did its service area of Martin County, Kentucky and Western Mingo County, West Virginia. In 1967, the Warfield Branch opened to
better serve the bank's many customers on the eastern portion of Martin County and Mingo County. During the seventies the region
witnessed unprecedented growth with the expansion of the coal industry. The Inez Deposit Bank grew at a phenomenal rate, with
assets increasing over four hundred percent. The bank's employees
increased from fourteen to forty. This remarkable growth
continued until the mid-eighties. Beginning in 1985, the area experienced declining economic conditions due to the depressed coal
market. Despite these economic challenges, management instituted plans to insure continued growth and prosperity in this changing
market. New services, loan products, and savings accounts were added. Management participated in secondary mortgage market
lending and opened Loan Production Offices in Pikeville and Hazard during the nineties.
Community Holding Company, established in 1983, serves as the
parent company of Inez Deposit Bank. Community Holding Company's asset size
increased from approximately $59 million in 1983 to
over $120 million by the early nineties. In 1999 an affiliate, Community
Thrift Holding Company, was created to serve as the parent of Inez
Deposit Bank, FSB.
