Owensboro-area business leaders have filed state and federal applications to establish Cornerstone Community Bank, a locally owned institution targeting small businesses, farms, real estate ventures, and professionals. The venture could open in mid-2026, if approved.
According to a release, the proposed bank would focus on serving small- and medium-sized businesses, farming operations, real estate investors and developers, and professionals in Daviess County and surrounding areas.
“The heart and spirit of community banking are its continuous efforts to provide safe and sound banking services to its customers and be an economic development engine with home-based decision making,” said Jonathan A. Lawson, chairman and charter organizer. “Upon regulatory approval, our group looks forward to this opportunity as the cornerstone for financial success for our service communities.”
Organizers include several local leaders in financial services, real estate, philanthropy, and entrepreneurship. The proposed directors are Lawson, Michael E. Horn, Steven M. Ford, Steven Neel Ford, John Ryan McDaniel, John T. Yager, Chris Anderson, Suzanne Cecil White, T. Tommy Littlepage, and Thomas Nicholas (Nick) Thompson II. Additional organizers are Frank Anderson, Pat A. Yager, Pat Anthony (Tony) Yager, James B. (Jim) Yager, and John A. (Al) Yager.
The proposed executive management team includes Kyle D. Aud as president and CEO, Billy Duvall as chief financial officer, and Tom Ed Booth as chief credit officer.
“The organizing group has committed substantial time, energy, and expertise to developing Cornerstone Community Bank,” the release reads. “Organizers with extensive business experience, along with professionals with deep regulatory and legal backgrounds, have researched, developed, and refined the bank’s business strategy to ensure Cornerstone will stand out from its competitors.”
The group has filed applications with the Kentucky Department of Financial Institutions and the Federal Deposit Insurance Corporation to establish the bank.
Pending regulatory approval, the bank plans to raise $20 million in local investment and open June 1, 2026, at 1819 Frederica Street in Owensboro. Cornerstone would occupy an existing building on the site, which has previously housed other banks.
“This planned capital level will position Cornerstone to be a strong, competitive financial institution,” the release said.
Cornerstone Community Bank remains in the organizational phase, with formation, charter, and deposit insurance subject to approval. The press release notes that any stock offering will be made only through confidential materials to qualified investors in accordance with the law.
