County banks on change for fiscal accounts

-A A +A
By The Staff

SHEPHERDSVILLE - It probably won’t come to the surprise of many that Bullitt County government will change its financial institution.

Bullitt Fiscal Court voted unanimously on Tuesday to change its banking services from First Federal Savings Bank to PBI Bank.

This comes as a lawsuit has been filed by fiscal court against First Federal in the cyber-theft of over $400,000 in June. The county was able to recover over $100,000 in funds that had not been accessed by the various fraudulent accounts and another $160,000 from its insurance carrier.

Magistrate Eddie Bleemel said he appreciated every bank that made a proposal to the budget committee.

After going through the proposals with each, the committee narrowed the field to three choices.

Bleemel said he would nominate PBI Bank to handle the county’s accounts due to the security measures in place and because he felt the county could call bank president Keith Griffee and get an immediate solution to any problem.

He also felt better about bringing the accounts back to a local bank.

Fiscal court unanimously approved county judge Melanie Roberts permission to open up accounts with PBI Bank as quickly as possible.

Treasurer Kenann Bradley said work was immediately put into process to open new accounts immediately and to complete that changeover as all checks cleared in other accounts.

The financial concerns began in late June when cyber-thieves got into the county’s on-line payroll accounts through the bank and made up false employees who were paid in various locations.

The county sued First Federal for its negligence and the bank countered with claims that the county failed to recognize several red flag issues.

No court date has been set.

When the county opted to change financial institutions, it considered both First Federal and PBI Bank before opting to secure the Elizabethtown-based company.