Home » Market Review | Financial services in Greater Louisville topped $25 billion in deposits at 40 institutions

Market Review | Financial services in Greater Louisville topped $25 billion in deposits at 40 institutions

By Robert Hadley

Originally founded in 1854 as Quigley and Lyons in Louisville, Hilliard Lyons is one the oldest investment firms in the United States.
Originally founded in 1854 as Quigley and Lyons in Louisville, Hilliard Lyons is one the oldest investment firms in the United States.

The financial industry in Greater Louisville and Southern Indiana is tough to beat. According to the Federal Deposit Insurance Corp., in 2016 the Louisville-Jefferson County market had more than $25 billion on deposit at its 40 financial institutions, almost triple Kentucky’s second largest market in Lexington-Fayette County.

Mortgage lending in Louisville appears to retain its post-recession bump, according to a real estate economic outlook presentation sponsored by the Homebuilders Association of Louisville last September. Jefferson County is among the state’s lowest in delinquencies, with 2-4 percent in default 90 days or longer compared to many counties in Eastern Kentucky with delinquencies of between 4 and 10 percent. Home price appreciation is up 6 percent.

This year, the Metro area not only retains all the superlatives it has enjoyed in years past, but has added a couple to sweeten the pot.

Hilliard Lyons ranking

In a move that enhances its reputation as a premier financial services firm, Hilliard Lyons told The Lane Report in March 2016 that Mitch Settle and Elias “Yaz” Hassan were named to Barron’s annual America’s Top 1,200 Financial Advisors list.

“These advisors represent an elite group and are true industry leaders,” said CEO Jim Allen. “They exemplify the exceptional quality and service that all Hilliard Lyons advisors continually strive to deliver.”

This marks the seventh year in a row that Settle, a senior vice president working out of the Owensboro office, earned a spot on the prestigious list – in fact, his No. 3 ranking was five points better than last year.

Hassan, a Murfreesboro, Tenn.-based vice president for the firm, was rated No. 11 among Barron’s financial advisors in Tennessee.

International firm opens doors

First came the February announcement by Ernst & Young LLP that it is opening a $4.35 million support center in downtown Louisville. Based in London, England, EY is a $29 billion professional services firm currently listed on Forbes magazine’s best management consulting firms and ranked 11th on the magazine’s list of America’s largest private companies.

The company – considered one of the world’s “Big Four” accounting firms – provides insurance, tax, transaction and advisory services to many of the world’s largest companies

In announcing the new facility’s opening, Gov. Matt Bevin mentioned Louisville and the state’s strong business reputation.

“Kentucky is quickly becoming the destination of choice for corporate and shared-service centers, thanks to our skilled professional workforce, high quality of life and low business operating costs,” Bevin said. “We are confident that EY’s Louisville-based, executive support team will be able to effectively serve their executives across the United States.”

EY partner Brent Summers, leader of the firm’s Americas enterprise support services division, was involved in the site-selection process. Pointing out that the center was a newly conceived location, rather than a relocation, he mentioned six reasons behind the Metro’s selection.

“Louisville has an attractive cost of labor and real estate, a stable economy, capable workforce and good transportation infrastructure, especially following recent significant upgrades,” Summers said, as well as a “large college and university system, and a supportive state and local government.”

Small business loans

The Louisville area is not just a hub for business loans from commercial banks, as a trio of deals announced in the first quarter of 2017 attest. METCO, the city’s Metropolitan Business Development Corp., loaned $410,000 in seed money to help launch three local businesses..

Andy Blieden, owner of three downtown properties through Butcherblock Properties LLC, will use three loans to upgrade the facades and accessibility of properties on Wenzel, Washington and Main streets in the Butchertown neighborhood.

Nathaniel and Holly Gravely and Cory and Kelly Buenning, owners of Gravely Brewing LLC, received a $200,000 loan for renovate property on Baxter Ave (just east of downtown) into a brewery and taphouse. Music will also be served.

Jamie Keith and Mary Jefferson received $15,000 to help The CERA Group LLC, an educational consultancy, to open offices downtown.

The recent accolades, openings, and loans prove that Greater Louisville’s financial services scene is friendly to businesses of all shapes and sizes.


American Founders Bank


The Bank – Oldham County



Louisville – bbt.com

Bedford Bank

Bedford, Ky. – bedfordbank.com

Central Bank

Louisville – centralbank.com

Chase Bank

Louisville – chase.com

Citizens Deposit Bank

Emminence, Ky. – cdbt.com

Citizens Union Bank of Shelbyville

Shelbyville, Ky. – cubbank.com

Commonwealth Bank & Trust Co.

Louisville – cbandt.com

Eclipse Bank

Louisville – eclipsebank.com

Farmers Bank of Milton

Milton, Ky. – fbmilton.com

Fifth Third Bank

Louisville – 53.com

First Citizens Bank

Elizabethtown, Ky. – first-citizens.com

First Capital Bank of Kentucky

Louisville – fcbok.com

First Harrison Bank

Corydon, Ind. – firstharrison.com

First Savings Bank, F.S.B.

Clarksville, Ind. – fsbbank.net

Forcht Bank

Louisville – forchtbank.com

Independence Bank


Kentucky Home Bank

Bardstown, Ky. – mylnb.com/

King Southern Bank

Louisville – kingsouthernbank.com

MainSource Bank


Meade County Bank

Brandenburg, Ky. – meadecountybank.com

Mid-Southern Savings Bank

Salem, Ind. – mid-southern.com

The New Washington State Bank

New Washington, Ind. – newwashbank.com

Old National Bank


PBI Bank Inc.

Louisville – pbibank.com

The Peoples Bank of Bullitt County

Shepherdsville, Ky. – pbofbc.com

Peoples Bank Mt. Washington

Mt. Washington, Ky. – peoplesbankmtw.com

The Peoples Bank of Taylorsville

Taylorsville, Ky. – tpbtaylorsville.com

PNC Bank

Louisville – pnc.com


Southern Indiana – regions.com

Republic Bank

Louisville – republicbank.com

River City Bank

Louisville – rivercitybankky.com

River Valley Financial Bank

Madison, Ind. – rvfbank.com

Springfield State Bank

Springfield, Ky. – springfieldstate.com

Stock Yards Bank & Trust

Louisville – syb.com

Town & Country Bank and Trust Co.

Bardstown, Ky. – mytcbt.com

United Citizens Bank & Trust Company

Campbellsburg, Ky. – unitedcitizensbank.com

U.S. Bank

Louisville – usbank.com

Wilson & Muir Bank & Trust Co.

Bardstown, Ky. – wilsonmuirbank.com

WesBanco, Inc.


New Washington State Bank

New Washington, Ind. – newwashbank.com


Baldwin CPAs

Louisville – baldwincpas.com


Louisville – bkd.com

Blue & Co. LLC

Louisville – blueandco.com

Beutow LeMastus & Dick PLLC

Louisville – bldcpa.com

Crowe Horwath LLP

Louisville – crowehorwath.com

Dean Dorton Allen Ford PLLC

Louisville – ddafcpa.com


Louisville – deloitte.com

Deming Malone Livesay & Ostroff PSC

Louisville – dmlo.com

Ernst & Young LLP

Louisville – ey.com

Harding Shymanski & Co. PSC

Louisville – hsccpa.com

Henderman, Jessee & Company PLLC

Louisville – hjcocpas.com

Jones Nale & Mattingly PLC

Louisville – jnmcpa.com


Louisville – kpmg.com

Louis T. Roth & Co. PLLC

Louisville – ltroth.com

Mather & Co. CPAs LLC

Louisville – matherandcompany.com

Monroe Shine CPAs

New Albany, Ind. – monroeshine.com

Mountjoy Chilton Medley LLP

Louisville – mcmcpa.com

PricewaterhouseCoopers LLP

Louisville – pwc.com

Rodefer Moss & Co. PLLC

New Albany, Ind. – rodefermoss.com

Strothman & Co. PSC

Louisville – strothman.com

Welenken CPAs

Louisville – welenken.com