By Associated Press
Frankfort, KY – JP Morgan Chase is taking over as the Commonwealth's banker this week. Treasurer Todd Hollenbach says the bank, with total assets of over $2 trillion and more than 1 million Kentucky customers, won the state's contract in a competitive bidding process. Farmers Bank formerly held that contract continuously since 1928. Hollenbach says employees in his office and the Finance Cabinet worked over the July Fourth holiday to ensure a seamless transition.