News Releases

Posted on 23 Mar 2009

Citizens National Bank Announces New Board Positions

At the Bank’s February Board Meeting, Cy Waddle stepped down as Chairman of the Board of Citizens National Bank. The Board elected Harris Rakestraw, III as Chairman of the Board and Odell Merrick as Vice Chairman of the Board.

Cy Waddle has been a Board Member of Citizens National Bank since 1975 and was one of the original investors that brought local ownership of the Bank back to Somerset. Waddle was named Chairman of the Board after the death of longtime Chairman, Richard E. Cooper in 2007. He had previously served as Vice Chairman of the Board since 1994. Waddle was born and raised in Somerset and retired as Vice President of Somerset Refinery and President of Somerset Oil, Inc. in 1999. He has been very active in the community over the years, serving as President of the Chamber of Commerce, Rotary Club and Industrial Foundation and served on the Board of Directors of the YMCA, Southern Kentucky Economic Development Corporation, Bluegrass Council Boy Scouts of America and many other organizations. Waddle and his wife, Jean Irvin Waddle, are members of First Baptist Church, where he serves as Deacon and helps with various committees. They have two sons, Gary Waddle (Lisa), and Paul Waddle (Florence) and 4 grandchildren, Gretchen Waddle Miller, Rachel Waddle, Nathan Waddle and Thomas Paul Waddle II.

“I have been fortunate to be a part of Citizens National Bank for many years. I want to personally thank Clay Davis for giving me an opportunity to serve on the Board and to help bring local ownership back to Somerset in 1977. I feel lucky to have served under one President for 38 years and look forward to finishing my years under the leadership of Citizens current President, Don Bloomer. I also want to express my appreciation of the late Richard Cooper for his dedication and love for the Bank. His belief was that the Bank is a family and that we treat all employees the same.” Waddle also stated, “It’s time for me to step down and let someone younger take the lead.”

Harris (Happy) Rakestraw has been a Board Member of Citizens National Bank since 1989. He was born and raised in Somerset and is the Past President and co-founder of Super Service Inc. He retired in 2002 and now owns and manages a cattle farming operation. Rakestraw is very active in the community serving as a board member of Dabney Fire Department, Eagles Nest Country Club, Pulaski Farm Bureau, and is on the state board of Economics and Marketing for Kentucky Farm Bureau. He is also a member and deacon of East Somerset Baptist Church. Rakestraw and his wife, Connie Harris Rakestraw, have two daughters, Angel Rakestraw (Josh Godby), and Joy Belle Carroll (Jimmy Dan Carroll), and two grandchildren, Benjamin Godby and Mollee Belle Carroll.

“It is an honor to be selected as chairman, but the greatest honor is to follow in the foot steps of the past chairmen, Cy Waddle and Richard Cooper. Their character and leadership has been impeccable. Since joining Citizens National Bank in 1989 our philosophy has been to provide the highest quality of banking services to our customers and community. Although the banking climate has changed as of late, we have not. Citizens National Bank is locally owned, safe and sound financially, and has outstanding employees that care about your banking needs,” comments Rakestraw.

Odell Merrick has been a Board Member of Citizens National Bank since 1977. He was born and raised in Somerset and is currently Chairman of Somerset Hardwood Flooring and Somerset Hardwood Lumber. Merrick is very active in civic organizations and Oak Hill Baptist Church, where he is a trustee and Chairman of the Board of Deacons. Merrick and his wife, Nancy Routt Merrick, have two children Steve Merrick (Kimm) and Debbie Eades (Jeff). They have four grandchildren, Stephanie and Cameron Merrick and Brandon and Jarred Eades.

“We want to thank Cy for his many dedicated years of service to Citizens National Bank. He is still a valued member of our Board of Directors and will help the Bank continue to be the financial leader in this area. I also want to congratulate Happy and Odell as they assume these leadership positions,” comments Donald E. Bloomer, President/CEO.

Citizens National Bank has been locally owned since 1977 by Somerset businessmen who formed Citizens Bancshares Inc. The current board of directors is: Donald E. Bloomer, Ron Absher, Clay Parker Davis, Robert S. Harris, Charles R. Hembree, Odell Merrick, Steve Merrick, Harris Rakestraw, III, Larry VanHook, Cy Waddle, William J. Wilson and Hal Rogers, Director Emeritus.