Independence Bank has announced a new Henderson County market president.
Wade Gaynor will succeed Jim Davis in that role effective Feb. 1, the bank said. Davis will remain with the bank as senior agriculture lender.
Davis joined Independence Bank as the Henderson County market president in 2007. Since then, Independence grew from the fourth-largest bank here to the second-largest, as measured by local customer deposits.
Independence Bank’s Henderson County deposits grew from $72.8 million as of June 30, 2007, to $225.3 million on June 30, 2024, which amounts to 20.4% of local bank deposits, according to the Federal Deposit Insurance Corp.’s annual Summary of Deposits report.
In doing so, Independence surpassed Fifth Third Bank and Old National Bank here but remains behind market leader Field & Main Bank’s local deposits of $456.8 million, which was 41.4% of market share.
An Independence Bank news release said Davis “has been an instrumental part of the bank’s growth and success for nearly two decades.”
The bank said Davis led the search for his successor.
Gaynor joined Independence Bank in March 2016. He served in a variety of positions, including as a commercial lender, and for the past six years has served as its Hancock County market president.
Gaynor, 36, grew up in Hancock County and graduated from Hancock County High School. He became an All-American third baseman at Western Kentucky University and played seven seasons in the Detroit Tigers minor-league organization.
“Wade is the ideal person for our Henderson market,” Davis said in a statement. “His values and ideals of what a local bank should be to its community are the same as what we have been building here for the last 30 years.
“Not only is Wade a great fit for Independence Bank, he is an excellent addition to the Henderson community,” Davis said. “I feel really good about giving him the keys to the shop and seeing where he can take us in the next 20 years.”
“At Independence Bank, we are deeply invested in the success of our community,” Gaynor said in a statement. “Alongside Jim Davis, I look forward to continuing the strong tradition of service that he and his team have established.
“We have a tremendous, experienced team here in Henderson that is committed to providing exceptional banking solutions to our customers. I am honored to step into this role and serve this great community,” Gaynor said.
Gaynor said he and his wife live on a farm in Hancock County, but plans eventually to relocate to Henderson.
“Everyone in Henderson has been so welcoming, it’s amazing,” he said.
“This leadership transition demonstrates the bank’s and Jim Davis’ ongoing commitment to strengthening this community, supporting the needs of our customers and fostering a culture of growth in this market,” Independence Bank CEO Greg Mullican said in a statement.
“I would like to thank Jim Davis for his love and commitment to the Henderson community and to Independence Bank,” Mullican said. “We’re excited for Wade to lead our team in Henderson and for Jim to continue supporting our agriculture industry.”
Headquartered in Owensboro, Independence Bank reports assets totaling more than $3 billion.
It has 26 locations across 15 counties in Kentucky, including two in Henderson: its main office here at 76 S. Green St. and at 1100 Barret Blvd. It entered the Henderson market in 1997.
Independence Bank has regularly been recognized among the Best Places to Work in Kentucky by the Kentucky Chamber of Commerce and the Kentucky Society for Human Resource management, and among the Best Banks to Work For nationally by American Banker magazine.
