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January 1, 1936, Charles H. Jett, Jr. purchased the Servel Electrolux Gas Refrigerator franchise & business from his father, Charles H. Jett, Sr. and soon began offering financing options to customers.

Keeping it in the family, Mayme Bush Jett kept the business running when her husband, Mr. Jett, Jr. enlisted in the Army Air Corp., during World War II.

The historic Jett Building at 101 E. High Street, which was built in 1820, was purchased in 1945. The first two floors were used for the appliance business, while Charlie and Mayme made their home on the top floor for the first few years.

On January 31, 1947, the corporation Jett’s Inc. was formed. Since that date the corporate articles have been amended several times and as the business evolved, underwent several name changes.

 

  • In 1956 The Jett’s Inc. name was amended to Preferred Credit Corporation and an Industrial Loan Charter was obtained.
  • In 1959 the name was amended to Preferred Thrift and Loan, Inc., as certificates of investment became the focus.
  • By 1966 the corporation developed the basic financial structure of a bank.
  • On April 10, 1972 the name was amended to Bank of the Bluegrass, Inc. and a commercial bank charter was obtained. Eight people were employed by the bank.
  • When Trust Services were added in 1981, the name was amended to Bank of the Bluegrass & Trust Co.
  • And, in 1982 Bluegrass Bancshares, Inc., a one bank holding company, was formed to hold 100% of the bank’s stock.

 

While attempting to maintain the historical features, the Downtown location has undergone many renovations. The bank has also added additional branches and an operations center. The staff has grown to over 60 employees, and the bank is invested in keeping technology best in class.

 

  • The leadership of Charles H. Jett Jr. ended when he passed in 1983.
  • Charles H. Jett III became Chairman of the Board and CEO, until he passed in 2000.
  • Mark H. Herren was then elected as Chairman of the Board and CEO.
  • In 2004 Bill Allen joined the leadership team as bank President.

 

The bank continues to be a locally owned, independent community bank committed to uncompromised financial strength, and unparalleled client and community service.