Central Bank and Trust

Central Bank (formally Central Bank and Trust Co.) is a privately owned and state-chartered bank in Utah, established in 1891. Currently, the bank has 10 offices, which are all found in Utah County. [ [http://www.cbutah.com Welcome to Central Bank ] ]

History

Originally, Central Bank was the Springville Banking Company, which was established on October 17, 1891 [http://www.heraldextra.com/content/view/268743/] , making it the second oldest state-chartered bank in Utah (The oldest was Barnes Banking Co., which was formed one week before). Up until 1890, the local townsfolk of Springville, Utah stored their gold at the Packard Brother's store, Deal Brothers and Mendenhall Company, or H.T. Reynolds and Company. It was decided between these stores that it would be advantageous to establish a bank for the stability and security of the community.

Springville Banking Co. was always known to be a strong and secure bank that could protect its clients. During the Great Depression, the bank was one of only a few that did not require Government Debenture Capital. [http://www.cbutah.com/site/news_history.html Welcome to Central Bank ] ]

Central Bank was formed when the State Bank of Provo merged with Springville Banking Co. on July 1, 1966. [http://provoutah.us/dir.html?category_id=869] With this merger, Central Bank began to grow throughout the whole county, opening offices in Spanish Fork, Provo, Orem, Mapleton, and Payson within a 15-year timespan. Currently, Central Bank has 10 offices.

Presidents

Springville Banking Co.

Central Bank

Offices

*Springville Office, located at 202 North Main Street in Springville, UT. This was the original building established by the Springville Banking Co. in 1891. It went through major renovations in 1941, and then again in 1986.
*Provo Downtown Office, located at 75 North University in Provo, UT. Established by State Bank of Provo in 1902, this office has expanded many times over the years, incorporating various other buildings bought on the same block by Central Bank. This office holds Central Operations, a Trust Department, Credit Card Services, and the Corporate Offices. Central Bank’s Mortgage Department is also located at 95 North University.
*Spanish Fork Office, located at 1 North Main Street in Spanish Fork, UT. This was the first location the newly formed Central Bank and Trust Co. built. The original office was built 2 blocks down from its current location in 1969. In 1991, the office was moved to its current location, and in 2007, it was remodeled and expanded.
*Riverside Plaza Office, located at 1300 North State Rd in Provo, UT. Built in 1971, this location is the second office in Provo. It was later remodeled and expanded in the early 1980s
*Mapleton Office, located at 385 North Main Street in Mapleton, UT. Following the same floor plan as the Riverside Plaza Office, this office was finished in 1972. It has also seen major remodel work and upgrades.
*Payson Office, located at 182 North Main Street in Payson, UT. This office was established in 1980. Along with Payson, it services customers in Santaquin, Salem, and the extreme southern part of Utah County.
*Orem Office, located at 415 North State in Orem, UT. This office was finished in 1982, and later remodeled in 2006.
*American Fork Office, located at 175 East Main Street in American Fork, UT. Built in 1996, this office was the first Central Bank location in the northern part of Utah County. It was also remodeled and expanded in 2007-2008.
*Lehi Office, located at 475 East Main Street in Lehi, UT. Finished in 2003, this office also services the newly formed communities of Eagle Mountain, Saratoga Springs and Cedar Fort.
*Pleasant Grove Office, located at 801 South Pleasant Grove Blvd. in Pleasant Grove, UT. Finished in 2008, this location services Pleasant Grove, Lindon, and Cedar Hills.
*Grand Central Offices. In the late 1970s and early 1980s, Central Bank had two in-store offices in the Grand Central stores located in Spanish Fork and Orem. Those locations have since closed.

References

External links

* [http://www.cbutah.com Central Bank Webpage]
* [http://www.heraldextra.com/content/view/179305/17/ Story of Central Bank's (The Springville Banking Co.) robbery in 1898.]
* [http://www.onlineutah.com/famouspackard.shtml The History of Milan Packard, one of the original founders of the Springville Banking Company.]