Twenty-five years ago, in September of 1990, Reds baseball players Ken Griffey and his son Ken Jr. became the first father-son duo in professional baseball to hit back-to-back home runs. And, several years before that, on September 4, 1969, the banking industry was revolutionized by the debut of the first ATM — in New York City.
In Northern Kentucky, on September 4, 1990, businessman Arnold Caddell — joined by then-Judge Executive Bruce Ferguson — was cutting the ribbon on a new locally-owned and operated bank in Boone County.
Heritage Bank was officially open for business, after receiving its state charter in July. At the time, there had not been a new bank charter in Northern Kentucky since 1945.
The new bank was a mobile unit at KY 18 and Taylor Drive and initially employed six people. Its stock value was $4 million and each share was $10.40.
Fast-forward 25 years later.
Arnold Caddell, chairman of the bank, and his son Chris, vice chairman of the board and director of Lifeline Ministries of NKy, are hitting it out of the ballpark and impacting Boone County banking in an relative ATM-revolutionary way.
Today, Heritage Bank has 17 offices in five counties and employs 140 people. Its assets are $550 million and deposits are over $465 million. It is one of the few locally owned banks remaining in the region.
The bank’s original Board of Directors is still comprised of most of the same investors from 1990 In addition to the Caddells, board members include Dr. Herbert Booth, Larry Burcham, Verne Epperson. Gary Griesser, Robert Lightner, Gary Wilmoff and bank President and CEO Lytle Thomas.
At the grand opening, life-long Northern Kentuckian Arnold Caddell said, “I want to meet as many people as I can that come to bank with us.” The bank has stayed true to knowing its customers — and is inviting all of them to celebrate 25 years of success at the branch of their choice on Friday, September 4. In fact, everyone’s invited to share in the festivities that each branch is planning on its own. Stop by anytime this week to select a free gift from the Heritage tree.
Lytle Thomas, who joined the bank in 2009, says, ‘Heritage is more than a bank; we’re your neighbors, friends, school volunteers, community advocate and fellow residents.”
He sounds like a voice from the past in adding, ” We place a heavy emphasis on knowing our customers personally.”
Thomas graduated from Transylvania University with a B.A. in Business Management and earned his MBA from Northern Kentucky University. He bring more than 20 years in banking to the Heritage mix — and a strong community engagement as well.
He is a graduate of Leadership Northern Kentucky and Leadership Kentucky, where he has recently been appointed to the board. He is the Immediate Past Chair of the Northern Kentucky Chamber of Commerce Board and is Chair of Junior Achievement of Kentucky, Ohio, and Indiana.
