Mer Grayson, a familiar figure in Northern Kentucky banking for over 50 years, has announced that he plans to step down as market president of Central Bank and transition to another “retirement” by the end of the year.
Ten years ago, he came out of retirement at the request of Central Bank’s president Luther Deaton to help establish the bank in the Northern Kentucky/Greater Cincinnati market.
“I assured Luther that I would lead the effort for a minimum of five years,” he said, but “one thing led to another” and it’s ten years later.
He was the only employee.
Today the NKy bank has $150 million in assets, and Grayson will be 74 in December.
“By starting the process now it will give the bank and Luther time to firmly establish the leadership for the future to build on the success we’ve had over the last ten years,” he told friends in an email announcement.
He said he will move from president to chairman of the advisory board and to full retirement at the end of the year.
“The most important people in my life are my children, the four grand girls and my wife and best friend of 46 years, Susan. I look forward to being able to be an even bigger part of their lives while I’m still in good health. Plus do a little traveling and try to recapture my golf game,” he said.
Grayson returned to Northern Kentucky with his bride, Susan, after earning a degree in business at the University of Kentucky — and started his banking career at First National Bank in Cincinnati. He later joined his father, Mer Sr., at Peoples Liberty Bank. At age 35, he was lured to Covington Trust to oversee its restructuring as president. When Huntington Bank acquired Covington Trust in 1986, Mer Jr. continued as president until “retiring” in 2001.
Sailboating and Dataw Island, S.C., however, was a short-lived retirement plan that ended in 2005 when Central Bank called on the popular local banking icon to head up its entry into the Northern Kentucky market. In ten short years, Central Bank has grown to three locations and more than $150 million in assets.
See NKyTribune’s story about the Grayson Family at Legacy Families.