page_title: Arch Glass Mainous
section_title: Deposit Guarantee becomes Citizens Bank
hierarchical_section_title: Arch Glass Mainous / Deposit Guarantee becomes Citizens Bank
caption_attribution_description: English: 1971 postcard celebrating the opening of 'The New Citizens Bank Square' in Lexington, Kentucky which housed the Citizens Union National Bank and Trust Company.
context_page_description: Arch Glass Mainous, Sr. was the founder of:
  Citizens Union National Bank & Trust Company in Lexington, Kentucky
  First Federal Savings and Loan of Lexington, Kentucky
  Kentucky Family Life
  Executive Vice President of the American Bankers Association in 1955
  President of the Kentucky Bankers Association in 1956
  He married Juanita Nell Cornett, the daughter of Kentucky politician William Manon Cornett & Clara Belle Eversole on January 27, 1927, in Miami, Florida.
context_section_description: After the closure of the Deposit Guaranty Bank, the bank was re-organized and re-opened as 'Citizens Bank and Trust Co' in 1932. During the period from its formation in 1932 through the 1950s the bank grew and eventually merged with the adjacent 'Union Bank' creating the 'Citizens Union bank'. The Merger of the two occurred on January 1, 1955.
  Arch Mainous was appointed President of the Lexington Clearinghouse (a consortium of banks in Lexington, Kentucky) used to process the clearing of checks and bank drafts.
  In December 1946 the existing Chairman of Citizens bank, Thomas C. Bradley died and Arch Mainous was elected to the position of Chairman of Citizens Bank and Trust.
  In 1958 the bank became a National bank becoming 'Citizens Union National Bank and Trust Company' whose offices were at 201 to 203 Short Street in Lexington, Kentucky, opposite Court House square.
  Arch Glass Mainous was known for being innovative. During the banking holiday established by President Franklin D. Roosevelt in 1933 Arch was able to re-structure Citizens Bank with an infusion of preferred stock bought by the US Government. This allowed Citizens Union to continue and grow, eventually becoming the second largest bank in Lexington, Kentucky. 
  In 1955 he was elected an Executive Vice President of the American Bankers Association and in 1956 was made President of the Kentucky Bankers Association. Over the years, Arch established a variety of branch banks throughout Lexington, Kentucky. Near his retirement, in 1971 he helped orchestrate the building of 'Citizens Bank Square' in Lexington  and Citizens Union also became known as 'The gold bank' (for the gold glass along the exterior of its new building). It was the first major urban renewal project in Lexington, Kentucky. 
  Eventually, in 1982 he sold Citizens Union to Tennessee banker Jake Butcher. After Mr. Butcher's financial problems the bank moved through several owners and became part of Bank One.
caption: Citizens Bank Square, Citizens Union National Bank and Trust Co, Lexington, Kentucky
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