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Columbia Gas Dept. GAS LEAK or GAS SMELL Contact Numbers 24 hrs/ 365 days 270-384-2006 or 9-1-1 Call before you dig 
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UCB Bank gift puts Pinewood over top on current needs drive Country Club is over one hurdle. But faces one more monumentalobstacle: "We have to restructure long term debt," President Yarberrysays. "And we're going to do it one way or another. We're not going tolet the club go under, whatever it takes." Country Club's membershipup 20% By Ed Waggener A gift today from United Citizens Bank of Southern Kentucky put thePinewood Country Club Drive over the $30,000 mark in its current needsdrive. Tucker Yarberry, President of the Country Club, and Ed Hancock, VicePresident, met today, Monday, March 24, 2008, at 10:30amCT with UCBCampbellsville Road Branch Manager Mike Curry to formalize the receiptof the gift. Mike Curry said the commitment to help Pinewood by United CitizensBank was made for a simple reason. "Columbia is our hometown," hesaid. Pinewood Country Club is vital to the economic development ofthe community--as it is to this bank. "After all," he said, "all ofour board of directors are Adair Countians." The United Citizens Bank of Southern Kentucky's Board of Directorsincludes, Chairman Chuck Giles, and members Roy Beard, Eddie Franklin,Dave Johnston, Marshall Loy, Steve McKinney, Joe Pyles, and PhillipWatson. The bank is now four years old, and has assets over $120,000,000. Themain branch is on Jamestown Street. The branch bank on CampbellsvilleStreet was opened last year, and a second branch bank was opened inCampbellsville just a few days ago and it's assets area alreadyapproaching $20,000,000, according to one of the bank'sstockholders. One of two local banks to make $1,000 gift UCB is one of two Columbia banks to make a $1,000 gift to help theCountry Club through a serious financial crunch. The Bank of Columbiahad contributed $1,000 earlier. The UCB gift of $1,000 means that the entire $30,000 temporaryindebtedness has been covered by the drive. The temporary or bridge note is now paid,President Yarberry said. Re-working longterm debt next immediate challenge He's working toward securing manageable long term debt amortizationfor the club's $900,000 plus debt. "I think," Yarberry said, "that when all the alternatives are lookedat, we'll be able to get a deal we can live with which also be thebest for all parties involved." This could involve a compromise buyout of the existing note, acommunity bond package, a new loan from a consortium of banks, with asignificant reduction in interest and overall payments, and a muchlonger workout of the country club's debt, Mr. Yarberry said. He saidhe didn't believe it would be necessary, "But if it were to take goingin to bankruptcy court to save Pinewood Country Club, we'll do it,"adding, "I can't think that will be necessary. We're making more thangood faith efforts. We can make it, if nobody tries to shove us over acliff." Pinewood Country Club saved from permanent closure "I think most people in town understand the dire circumstances pastmanagement of the country club had gotten it into," he said. "If wehadn't been successful with immediate needs drive, Columbia and Adair County would have lost thisimportant asset--this very necessary component of economic developmentwould have been gone. Pinewood would have closed." "At the moment," he said Tuesday, "we're over a major hump. The club nowmeets all its current obligations," he said, "and we paying allinterest on our indebtedness and are making some payments on theprincipal." Membership up over 20% since first of the year The country club membership rolls have swelled, too. Ed Hancock saidthat current membership is up over 20%. "We've got 123 members now,"He said. At the start of the year, membership stood at barely 100.Memberships are $1,000 each, whether for an individual or afamily. Yarberry's goal is to add at least 52 more memberships this year, tobring total membership to 175. The club has a new pro shop manager, Winston Moore, and there is afull schedule of events for this year. "We're a 100% open to membership, now," Mr. Yarberry said. "Nobody isever turned away. This story was posted on 2008-03-25 07:31:16
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