Early years
Bank of American Fork was established in 1913 as The People's State Bank of American Fork. In its early years, the bank found modest success servicing mostly sheep farmers in Utah County. Key to the bank's success was the leadership of Clifford E. Young, the Bank's manager from 1913 until the mid-1950s.
After the stock market crash of 1929, the Bank survived with the help of Young and other shareholders who sold and mortgaged their personal property. In early 1932, Young decided to temporarily close People's State Bank instead of risking a run on the bank, as had happened to many banks across the country. The bank re-opened later that year.
Orville Gunther, a local businessman, had been serving on the Bank's board of directors for several years when, in the early 1960s, he purchased a controlling interest in the bank. Soon after, Gunther shortened the name of the bank by dropping "People's State" so that it became known as "Bank of American Fork."
1970s - 2000s
Expansion within Utah began in the 1970s when the Bank's second branch was built in Alpine. The 1990s saw full-service branches constructed in Highland, Orem, Lehi, Pleasant Grove, and Spanish Fork. With the new century came new branches in the Salt Lake Valley, including locations in Draper, Sandy, Murray, and Riverton. Later, a Saratoga Springs branch opened in Utah Valley and a Layton branch opened in Davis County, bringing the total number of Bank of American Fork branches to 13. In 2014, Bank of American Fork opened a full-service branch in St. George. As of August 2017, Bank of American Fork had 15 branches. The bank's holding company is People's Utah Bancorp.
2013 - 2019
In 2013, Bank of American Fork merged with Lewiston State Bank of Logan, Utah.[8][9] (Lewiston State Bank was founded in Lewiston, Utah in 1905.)[3]
In 2015, Bank of American Fork and Lewiston State Bank merged their banking charters into one, with the existing charter named People's Intermountain Bank. As divisions of People's Intermountain Bank, Bank of American Fork and Lewiston State Bank continue operating under their traditional names and branding.
In June 2017, People's Intermountain Bank announced its intention to purchase Town & Country Bank of St. George. Following regulatory approval and the closing of the transaction, the Bank of American Fork St. George branch was consolidated with the Town & Country Bank St. George location, with the surviving entity operating as People's Town & Country Bank, a division of People's Intermountain Bank.
On July 27, 2017, People's Intermountain Bank announced its intention to acquire Banner Bank's Utah branches. The transaction was completed on October 6, 2017, and the five surviving Banner Bank branches began operating under the name Bank of American Fork on October 9, 2017, bringing the total number of Bank of American Fork branches to 20, and the total number of branches in the People's Intermountain Bank family to 25.
2019 - present
On November 13, 2019, the People's Intermountain Bank and its divisions (Bank of American Fork, Lewiston State Bank, and People's Town & Country Bank) rebranded itself as Altabank.[11][3] In 2021 Altabank was acquired by Glacier Bancorp.[12] In December 2021, Terry Grant was named the next president of Altabank, replacing a retiring Len Williams.[1]
