After Wells Fargo closed its doors in Smithfield, another bank is making its home in the city’s old trolley station.
“When the opportunity came up to come to a location that was already well-known, a historic site, we just thought what a great opportunity for us,” said Bruce Rigby, president of Cache Valley Bank. Rigby’s bank is now leasing the trolley station and opening a branch in Smithfield.
In May, the Wells Fargo branch in Smithfield closed its doors after 43 years at that location. The bank, originally a First Security branch before being bought by Wells Fargo, began operating in the former trolley station in 1976.
The bank was the first one in Smithfield to have a drive-up window. Before it was a bank, it served as a trolley station for the Utah-Idaho Central Railroad Company line, which began in 1910.
Darrell Simmonds, former mayor of Smithfield and a personal banker with Cache Valley Bank, said the trolley station helped build the community.
“This was pretty central for a lot of the things that have happened over the years for Smithfield actually growing,” Simmonds said. “Communication and transportation are certainly critical in that.”
Simmonds said he sees Cache Valley Bank playing role in Smithfield’s continued growth.
“I think this is going to be perfect for economic development,” Simmonds said.
The trolley station is one of many historic buildings Cache Valley Bank uses for operations throughout the valley, including three in downtown Logan. Rigby said it is important to the bank to both preserve history and ensure their locations meet modern needs.
Simmonds referred to preserving these buildings as “polishing the past.”
“People know them, they know where they are at,” Simmonds said. “From a community standpoint, it is a very wonderful thing to see companies come in and say, ‘Let’s preserve some of these buildings and keep the heritage of the city.’”
Before the bank opens its doors for business, a few renovations are being made to the space. The changes include new carpet, fresh paint and updated lighting.
Rigby said the bank will be ready to open any day now.
Despite many people using technology to do their banking online, both Simmonds and Rigby said there is a still a demand for in-person services.
“If you have a problem on your phone with your account, you need to be able to know you can talk to somebody local,” Rigby said.