Despite Citizens First Bank and PBI Bank each closing branches in Bowling Green since November, some local bank presidents view the banking economy here as strong.

Citizens First Bank closed its branch across from the Western Kentucky University intramural fields but still owns the building, said Todd Kanipe, president and chief executive officer of Citizens First.

Kanipe said Citizens First is reviewing possible branch locations, but nothing has been decided, and the company may choose to keep just its current three branches.

“We closed that branch because of economic reasons in November of 2014,” Kanipe said.

Kanipe said the closure was determined by the amount of business that branch was doing. The bank’s Campbell Lane, Lehman Avenue and Hartland branches in Bowling Green continue to operate.

“The market is good, and we have seen loan growth and deposit growth. We would like to see more,” Kanipe said. Citizens Bank has assets of $425 million, he said.

John Taylor, chief executive officer for PBI Bank, the ninth-largest bank for deposits in Kentucky with 17 branches across the state, said during an appearance in Bowling Green on May 20 that “from our perspective, this is a very attractive market.” 

PBI closed a branch on Fairview Avenue, and now the bank has one location in front of the Kroger shopping center off Campbell Lane. PBI has about $1 billion in assets in Kentucky.

Taylor said with the advent of new technology such as online banking, the need for a lot of bank branches diminishes.

“The way customers access us is changing every day,” said Taylor, who visited PBI from Louisville during a ribbon-cutting held by the Bowling Green Area Chamber of Commerce at the Campbell Lane branch.

“The brick and mortar is not as important as the relationships that we have with our customers. We start with people,” he said.

PBI is in 12 Kentucky counties, including branches in Louisville, Lexington, Owensboro and Bowling Green, along with locations in Horse Cave and Beaver Dam and several other small communities.

A third bank leader said he sees a good banking market in Bowling Green and Warren County.

Brad Howard, president of Independence Bank in Warren County, said Independence continues to work with Bowling Green and Warren County’s small business sector, particularly companies with 75 employees or less.

Howard said there has been growth in new home sales locally, and the economy has been strong for the past 18 months.

Independence Bank has assets of nearly $1.6 billion, he said, with 24 branches in cities including Paducah, Frankfort, Bowling Green, Henderson and Madisonville.

Howard said local residents also benefit from how the banks here reach out to the community in philanthropic efforts, sponsoring many community events.

“Bowling Green benefits from the banks being good corporate partners,” Howard said. “We are very blessed.”

Kanipe, Taylor and Howard agreed the Bowling Green banking economy should continue to grow in the future as the city and county continue to be the economic hub for southcentral Kentucky.

— Follow business reporter Charles A. Mason on Twitter at twitter.com/BGDNbusiness or visit bg dailynews.com.