Altabank
Altabank is a full-service Utah community bank serving individuals, businesses, and commercial customers across northern, central, and southern Utah.
Last updated August 26, 2026
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Overview
Altabank is a full-service community bank headquartered in American Fork, Utah. Its banking history reaches back to 1913, when The People's State Bank of American Fork was established to serve local customers, including sheep farmers in Utah County. The institution later became known as Bank of American Fork and expanded from its original community base through new branches, mergers, and acquisitions. The modern Altabank organization was assembled from several Utah banking institutions. Bank of American Fork merged with Lewiston State Bank in 2013, and their banking charters were combined in 2015 under People's Intermountain Bank. The constituent divisions continued to operate under their established local names for a period. People's Intermountain Bank also acquired Town & Country Bank of St. George and Utah branches of Banner Bank, increasing its geographic reach and branch network. In November 2019, People's Intermountain Bank and its operating divisions adopted the Altabank name. The rebrand created a unified identity for a bank serving the Wasatch Front, Cache Valley, Utah Valley, the Salt Lake Valley, and St. George, as well as nearby Preston, Idaho. The bank's reported network comprised 26 branches, and its customers included consumers, small and midsize businesses, and larger commercial clients. Its services are centered on conventional community-banking activities such as deposit accounts, consumer and business lending, payment services, and online banking. Before its acquisition, Altabank was owned by People's Utah Bancorp, a publicly held bank holding company traded on the NASDAQ. Glacier Bancorp acquired Altabancorp in 2021, bringing Altabank into Glacier Bancorp's regional banking group. In December of that year, Terry Grant was named Altabank's next president, succeeding retiring president Len Williams. Altabank's identity combines local-market banking with the broader resources of a multistate banking group. Its historical development has been characterized less by a single product category than by the consolidation of established community banks and the extension of branch-based relationships across Utah. Publicly referenced descriptions identify it as one of the larger banks headquartered in Utah, with a network serving both individuals and businesses. Current standalone financial results, exact present-day staffing, branch counts, and detailed management structures are not established in the supplied reference material.
History
Altabank's institutional history begins with the establishment of The People's State Bank of American Fork in 1913. The early bank operated in Utah County and primarily served local agricultural customers, including sheep farmers. Clifford E. Young managed the institution from its founding period into the mid-twentieth century and played an important role during the financial stress that followed the 1929 stock-market crash. Rather than remain open during the most dangerous phase of the banking panic, the institution temporarily closed in early 1932 to reduce the risk of a run. It later reopened. The bank survived in part through the willingness of Young and other shareholders to sell or mortgage personal property to support it. This episode became an important part of the institution's local history. In the early 1960s, local businessman and longtime board member Orville Gunther acquired a controlling interest. Soon afterward, the bank shortened its name to Bank of American Fork. Expansion accelerated during the following decades. A second branch opened in Alpine in the 1970s, followed by full-service locations in communities including Highland, Orem, Lehi, Pleasant Grove, and Spanish Fork during the 1990s. During the early twenty-first century, the organization added branches in the Salt Lake Valley, including Draper, Sandy, Murray, and Riverton, and later opened in Saratoga Springs and Layton. The bank entered southern Utah in 2014 with a full-service St. George branch. By August 2017, Bank of American Fork had 15 branches. Its holding company was People's Utah Bancorp, which was publicly traded and owned the operating bank. A series of combinations then created the structure that would become Altabank. In 2013, Bank of American Fork merged with Lewiston State Bank, an institution founded in Lewiston, Utah, in 1905. In 2015, the two banking charters were combined under People's Intermountain Bank. The divisions initially retained the Bank of American Fork and Lewiston State Bank names and branding. People's Intermountain Bank announced the planned purchase of Town & Country Bank of St. George in June 2017. After the transaction received regulatory approval and closed, the existing Bank of American Fork St. George branch was consolidated with the Town & Country Bank location. The surviving operation became People's Town & Country Bank, a division of People's Intermountain Bank. In July 2017, People's Intermountain Bank announced an agreement to acquire Banner Bank's Utah branches. The transaction closed on October 6, 2017, and five surviving branches began operating as Bank of American Fork on October 9. The deal increased the Bank of American Fork network to 20 branches and the broader People's Intermountain Bank family to 25 branches. On November 13, 2019, People's Intermountain Bank and its divisions adopted the Altabank name. The rebrand provided a common identity for the institution's consumer, business, and commercial banking operations across Utah and nearby southern Idaho. The bank was described as headquartered in American Fork, with 26 locations extending from St. George to Preston, Idaho. In 2021, Glacier Bancorp acquired Altabancorp, ending Altabank's status as a bank operating under its former publicly held parent and making it part of Glacier Bancorp's regional banking network. In December 2021, Terry Grant was selected as the next president, replacing retiring president Len Williams. The institution also has a preservation connection to American Fork. It purchased and restored a historic bank building constructed in 1911 and listed on the National Register of Historic Places in 1993. The building had originally housed an earlier Bank of American Fork that closed after the 1929 crash and is recognized as an important surviving commercial structure on American Fork's Main Street.
- 2021
Acquired by Glacier Bancorp
[1]Glacier Bancorp acquired Altabancorp, placing Altabank within its banking group.
- 2019
Altabank rebrand
[1]People's Intermountain Bank and its divisions adopted Altabank as their unified brand.
- 2017
Banner Bank Utah branches acquired
[1]Five acquired Utah branches began operating under the Bank of American Fork name, expanding the wider network.
- 2015
Creation of People's Intermountain Bank charter structure
[1]The Bank of American Fork and Lewiston State Bank charters were combined under People's Intermountain Bank.
- 2013
Merger with Lewiston State Bank
[1]Bank of American Fork merged with Lewiston State Bank, broadening the institution's Utah banking footprint.
- 1960
Name shortened to Bank of American Fork
[1]After Orville Gunther acquired a controlling interest, the institution dropped “People's State” from its commonly used name.
- 1932
Temporary closure during the banking crisis
[1]The bank temporarily closed during the aftermath of the 1929 crash to avoid a potentially destabilizing run, later reopening.
- 1913
The People's State Bank of American Fork established
[1]The institution that forms the historical foundation of Altabank was established in American Fork, Utah.
Products and positioning
A Utah-focused community bank offering relationship-based consumer, small-business, and commercial banking, supported by the broader Glacier Bancorp group.
Consumer banking
Personal banking
Altabank serves individual customers through conventional community-banking products, including deposit accounts, everyday transaction services, consumer borrowing, and digital or online banking. The supplied references establish the broad service category but do not provide a verified current list of account names, rates, fees, or eligibility requirements.
Small-business banking
Business banking
Business banking is aimed at local companies and small and midsize enterprises. The offering is centered on business deposits, payment capabilities, lending, and cash-flow support delivered through a relationship-oriented branch network. Specific product packages and current terms are not established in the supplied source material.
Commercial banking
Commercial banking
Altabank provides banking services for commercial customers in the Utah markets it serves. This broad category includes commercial deposits, lending, and related financial services. The available references do not identify particular commercial loan programs, industries served, pricing, or underwriting criteria.
Bank deposits
Deposit accounts
Deposit accounts support personal and business cash management, payments, and day-to-day banking. The source material confirms deposits as part of Altabank's full-service banking scope but does not verify the current account lineup or associated rates and fees.
Bank lending
Loans
Lending is a core part of Altabank's service model for consumers, businesses, and commercial customers. The references describe the bank as full-service but do not specify a complete set of mortgage, consumer, commercial, or small-business loan products.
Brand decisions
2021
Acquisition by Glacier BancorpM&ABackground
Altabank was operated through Altabancorp, a publicly held bank holding company, before the transaction.
Action taken
Glacier Bancorp acquired Altabancorp and integrated Altabank into its regional banking group.
Aftermath
Altabank ceased to operate under its former independent publicly held parent structure and became part of Glacier Bancorp.
2021
Presidential successionOtherBackground
President Len Williams was retiring after leading the bank.
Action taken
Terry Grant was named the next president of Altabank in December 2021.
Aftermath
Grant succeeded Williams as the bank's president.
2019
Unification under the Altabank brandStrategyBackground
People's Intermountain Bank operated through divisions with different historical names, creating a case for a unified regional identity.
Action taken
People's Intermountain Bank and its divisions rebranded as Altabank.
Aftermath
The bank presented a single brand across its Utah and nearby Idaho service area while retaining its community-banking orientation.
2017
Acquisition of Banner Bank's Utah branchesM&ABackground
People's Intermountain Bank pursued additional Utah locations to extend the Bank of American Fork network.
Action taken
It completed the acquisition of Banner Bank's Utah branches, with five surviving locations adopting the Bank of American Fork name.
Aftermath
The Bank of American Fork network reached 20 branches, while the broader People's Intermountain Bank family reached 25 branches.
2013
Merger with Lewiston State BankM&ABackground
Bank of American Fork sought to broaden its institutional and geographic base through a combination with Lewiston State Bank.
Action taken
The two Utah banking institutions merged, with their later charter structure consolidated under People's Intermountain Bank.
Aftermath
The transaction created a larger platform whose divisions initially retained their historic local identities.
Recent events
Glacier Bancorp announces agreement to acquire Alta[2]
Reported:
Altabancorp announced a definitive agreement with Glacier Bancorp for Glacier to acquire Alta, the bank holding company for Altabank. The transaction was subject to regulatory and shareholder approval and other customary closing conditions.
Altabank announces five-year partnership with Wasatch Adaptive Sports[3]
Reported:
Altabank announced a five-year partnership with Wasatch Adaptive Sports through a $100,000 donation to the nonprofit and its programs.
- Unconfirmed
People’s Utah Bancorp banks adopt the Altabank brand[4]
Reported:
People’s Utah Bancorp said its three banks—Bank of American Fork, Lewiston State Bank and People’s Town and Country Bank—had adopted the Altabank brand. The company said the move unifies its operating units and clarifies its mission and market position.
Sources4 sources
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