On February 7th, 1866, The Bank of Elkton was organized and chartered with a capital stock of $50,000. Business began in a small, humble office on the northwest side of the Public Square, presently housing Knuckles Insurance.
On July 2nd, 1890, The Farmers & Merchants’ Bank was opened by Judge G. Terry, who was President, Dr. E. Stuart of Fairview, who was Vice President, and S.H. Perkins, who was Cashier.
And on December 22nd, 1932, the Bank of Elkton and the Farmers & Merchants’ Bank announced plans to consolidate. The corporation would be known as the Elkton Bank & Trust Company, effective December 31st of 1932. The directors were: H.E. Williams, J.O. Street, J.D. Standard, John N. Williams Jr., Russell Maynard, Saint Millen, E.L. Traughber, A.A. Lindsay, C.E. Gill, Thomas E. Johnson, E.B. Weathers, L.G. Boone, S.Y. Trimble and I.D. Jones.
The “new” bank used the Bank of Elkton building on the south side of the Public Square (later Hurt’s Grocery and Dollar Store). The Farmers & Merchants’ building was used for insurance management, real estate transactions, and housing the safety deposit boxes.
On May 4th, 1934, Elkton Bank & Trust acquired Guthrie Bank. The Board of Directors of the Elkton Bank would manage the Guthrie Bank as well and the Guthrie Bank would become an agency of Elkton Bank & Trust Company.
The South Main Branch of Elkton Bank & Trust Company was opened in 1979 and the Highway 79 Branch was opened in 1990.