2022 Business of the Year
Cache Valley Bank - Smithfield Branch
Cache Valley Bank, a five-star rated bank, is a home-town bank that is owned and operated by members of the local community. It was first organized in October 1975 as the North Park Bank of Commerce located in North Logan. In 1981, it became Cache Valley Bank and moved to its 2200 N Main location. In 2010 there were two branches of the bank. Since then, the $3 billion community bank has grown to 23 branches throughout Utah and now in Preston, Idaho. The Smithfield Branch opened in September of 2019 and is located at 10 N Main. The bank’s mission since its inception has been to provide services to small businesses, farmers, and residents of Utah. The bank has experienced steady growth since the mid 1980’s and has now become the largest depository institution in Cache County as well as the largest community bank in the State of Utah. Cache Valley bank has doubled in value in the last 18 months.
When the economy paused due to the pandemic, Cache Valley Bank moved quickly to help businesses access the Paycheck Protection Program. As other banks were backing down, Cache Valley Bank doubled down on helping its commercial customers and processed over 9,000 PPP loans.
Bank officials attribute their success in community banking by offering a live presence. Businesspeople still want to work face-to-face in consumer banking and where decisions are made locally. This model allows the bank to be responsive and flexible to the needs of their customers.
Cache Valley Bank’s goal is to help business owners – large and small – to grow and succeed by providing high quality service, advice, and financing. Cache Valley Bank stands out in this effort by partnering with customers as a true community bank combined with the capacities of a large bank.
The staff and management of Cache Valley Bank are honored to serve the banking needs of the residents and businesses of Smithfield and Northern Utah and invite you to stop in and see what opening an account can do for you. Whatever financial challenges and opportunities you face, Cache Valley Bank is here to support you and be your partner along the way.