Shelby County State Bank, the oldest bank in Shelby County, opened its doors May 11, 1895, for the purpose of offering banking products and services to all of Shelby County.
Since its inception, Shelby County State Bank has led the way in offering financial products and services to Shelbyville and the surrounding communities. Shelby County State Bank has been the bank that businesses, farmers, and individuals have turned to for financial assistance through all economic ups and downs. Over the past 115 years, Shelby County State Bank has made the highest percentage of loans of all Shelby County financial institutions.
The Bank, when formed, started with a capital stock of $50,000 and has since grown to over $215,000,000 in assets. The original investors were Theodore F. Dove, Max Kleeman, Philo Parker, and John A. Tackett. To this date, a member of the Dove family has been active in the Bank.
Shelby County State Bank opened for business at 155 East Main Street, in a building formerly occupied by the W. F. Thorton and Sons Bank, with Philo Parker as its first president. On December 31, 1916, a fire destroyed much of the original Bank. The Bank was rebuilt and completed in the fall of 1917.
During the late 20s and 30s, Shelby County State Bank consolidated with the Tower Hill State Bank and became a member of the Federal Deposit Insurance Corporation (FDIC) and a member of the Federal Reserve System.