Bank of Kentucky

The Bank of Kentucky was chartered in 1806 by the state legislature as part of a compromise that ended the controversy over private banking. It was modeled on the Bank of the United States and was governed by a president and a twelve-member board of directors. Robert Alexander of Versailles was elected president in 1807 and served for fourteen years during which the bank was sound, profitable, and conservatively administered. The bank's charter was repealed in 1822 by a hard-money legislature after the newly chartered Bank of the Commonwealth flooded the state with its own currency, thus provoking runaway inflation and a collapse in property values.

From the description of Bank of Kentucky ledger, 1807-1810. (Kentucky Historical Society). WorldCat record id: 40113856

Bank

The Bank of Kentucky was chartered in December 1806 and capitalized at $1,000,000 one half of which was to be held by the state. The Bank's twelve man Board of Directors included six men appointed by the state government.

From the description of Bank of Kentucky records, 1812-1836. (University of Kentucky Libraries). WorldCat record id: 13019209