Department of Financial Institutions
Temporary Bank Facilities Now Open in West Liberty Area
FRANKFORT, Ky. – (March 6, 2012) – The storm-damaged banks in West Liberty have resumed business at remote locations, accepting deposits and providing cash withdrawals up to $500 per day, the Department of Financial Institutions (DFI) announced.
Commercial Bank’s sole location was destroyed by the tornado. Now it is operating out of a temporary facility – a location at 151 University Drive in West Liberty, which opened Monday. A second branch location in a mobile banking facility near the IGA in Index will open Wednesday.
A downtown mobile banking facility for Commercial Bank is planned but has not yet opened at 1171 W. Main St. in West Liberty, with assistance from Community Trust Bank in Pikeville.
Citizens Bank and Bank of the Mountains each had a branch in downtown West Liberty that was destroyed in the storm. Local customers of these banks may use other branches to conduct business. Bank of the Mountains has branches in West Liberty and Ezel. Citizens Bank has branches in Morehead, Owingsville and Sharpsburg.
The banks have retrieved equipment from their damaged locations and have moved those items to a secure location.
“The staff of the Department of Financial Institutions is taking steps to help the banks and ensure customers have access to their money,” said DFI Commissioner Charles Vice. “We have visited the site, seen the damage first hand, and we are helping to facilitate a coordinated effort. Many other state-chartered banks have volunteered to assist these banks.”
Bank customers with questions or concerns may call DFI toll-free at 800-223-2579.
The Federal Deposit Insurance Corp. (FDIC) insures depositors up to $250,000 each. For more information, visit www.fdic.gov/deposit/deposits/dis/index.html.
DFI, which traces its origin to the Banking Act of 1912, is an agency in the Public Protection Cabinet. For 100 years it has supervised the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. DFI’s mission is to serve Kentucky residents and protect their financial interests by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.