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The dream of a former trustee of Cache Valley Bank has almost come true. The late Linden Beckstead always wanted to see a branch of the bank open in Preston, and one will be by mid-November, according to Scott Beckstead, his son and vice chairman of the bank’s board.

His son-in-law, Lance Zollinger, is president of the bank. Both he and Beckstead, as well as several of the bank officials, hail from Franklin County.

Darren Cole is the branch manager and senior vice president. Sid Beckstead is the relationship manager for the bank.

Bailey will be the lead teller, McKenzie Bodily will be a teller and Ashley Nate will be the branch operations manager and personal banker.

“We’ve looked at Preston for a long time; we have a lot of customers in Preston,” Scott Beckstead said, and “now seems to be the right time.”

The bank was first organized in 1975 as Bank of Commerce and was located in North Logan. In 1981, it became Cache Valley Bank and moved to its 2200 N. Main Street location.

In 2010 there were two branches of the bank. Since then the bank has expanded throughout Utah. There are 18 branches from Smithfield to St. George.

This will be the first branch in Idaho.

“Only until recently have states made it more doable for us to do,” Zollinger said. “It’s been a hope and dream for 40 years.”

“We hope that with a lot of us being from here, it is an opportunity to be involved in the community,” Cole said. “We have interest in the community. We have the people here and we have the businesses here.”

With $2.3 billion in assets, Cache Valley bank has doubled in value in the last 18 months, he added. When other banks were backing down, Cache Valley Bank doubled down on helping its commercial customers take advantage of the Paycheck Protection Program loans when the COVID-19 pandemic broke out.

“We did 9,000 PPP loans,” Scott said. “We had people working 24 hours per day, processing those loans.”

Another thing bank officials attribute their success to, they said, is that they still believe in a live presence.

“Decisions are made here, not at a corporate headquarters,” Scott said.

“Businesspeople still want a face to take with them in consumer banking,” Cole said.

And because the bank can make those decisions locally, “we are more able to be responsive and flexible to the needs of our customers,” he added.

The bank will be located in Stokes Market.

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