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KNB pays out dividends of $3

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Share payout is at all-time high

By Jeff D'Alessio

Kentucky Neighborhood Bank shareholders are receiving an early Christmas gift this year — checks for shares at an all-time high.

Checks went out Friday, KNB President and CEO Ronnie Pence said, at $3 for each dividend share. The bank has about 250 shareholders, Pence said.

"The bank continues to do well and in the last four years, we have been able to grow on top of the previous year,'' he said.

Dividends have been on the rise for KNB, going from 50 cents to $1 in 2011 and from $1 to $2 last year.

"We've been fortunate and we've had some good years,'' Pence said. "And we've been very fortunate to be in Hardin County. Hardin County has experienced good growth.''

He said in 2013, KNB's loan portfolio grew at a rate of 10 percent for about $10 million in loans.

KNB, which opened in 1997, now has total assests of about $130 million, Pence said. The bank has three locations in Elizabethtown and Radcliff.

Jeff D'Alessio can be reached at 270-505-1757 or jdalessio@thenewsenterprise.com.