On January 22, 2013, Mayor James Hadfield of American Fork made an official proclamation at the city council meeting about Bank of American Fork. The branch on Main Street has been a part of American Fork for 100 years today.

”Now, therefore, be it proclaimed that I, James Hadfield, Mayor of American Fork City, Utah, declare February 5, 2013, as Bank of American Fork Day,” said Mayor Hadfield. “Whereas, American Fork City is honored to have Bank of American Fork’s headquarters located in American Fork and looks forward to another century of Bank of American Fork serving our community with its big-city banking options and small-town service approach of excellent customer service and friendliness found in a small town.”

Imagine a doctor, some business leaders and farmers joined together in a single cause: to create a safe, secure, local bank to serve American Fork and neighboring citizens. The group’s formal venture was realized on February 5, 1913 when People’s State Bank of American Fork was incorporated. Now, 100 years later, the financial institution–Bank of American Fork–is Utah’s community bank leader.

During the first two decades, the bank’s reputation for being safe and sound was solidified. Customers put their trust in the bank’s founders, who were well-respected men known for their integrity and work ethic. Challenges started after the stock market crash of 1929 and intensified in 1932, when People’s State Bank of American Fork closed its doors to avoid a run on deposits. Though a large number of banks across the country did the same but never reopened, People’s State Bank of American Fork was opened for business nine months later after tremendous sacrifice by management, some by mortgaging their own homes to keep the institution afloat.

The 1940s and ’50s saw better times for banking, through this Peoples State Bank of American Fork thrived. In the 1960s, the bank proved itself a technological leader when it made a large investment and upgraded to advanced computerized systems. The bank had an open house to showcase their latest computing system which was considered a marvel at the time. With this focus on modernization, the name of the bank was formally shortened to Bank of American Fork.

The bank opened its first branch outside American Fork in Alpine in 1974. Further expansion in the ’80s, ’90s and 2000s increased the reach of the bank across Utah County and into Salt Lake County. Today, the Bank of American Fork continues to grow to meet the needs of communities. The bank’s Layton Branch, opened in November 2012, is its 13^th branch and first in Davis County.

Throughout its century-long existence, Bank of American Fork has experienced various economic cycles and financial challenges. The bank successfully made it through the financial hurdles of the Great Depression and the Great Recession. The bank credits success to the philosophy that the primary responsibility of the bank is to deal fairly with customers and be satisfied with reasonable profits. Today, Bank of American Fork looks forward to 100 more years of serving its communities.

Heidi Pfaffroth is a communications specialist at Bank of American Fork. She is a social media guru and loves contributing informative articles that help consumers and businesses become better money managers. This article should not be considered legal or investment advice. Follow her and Bank of American Fork on Twitter, Facebook or via the blog.