Bank of American Fork may be a misnomer now that there are branches in Alpine, Highland, Lehi, Pleasant Grove and Orem.
The bank's explosive growth during the last several years has many Utah County residents and some company officials wondering if a name change is in order. But don't expect to see "Bank of Utah County" anytime soon."We've concluded that maybe it's OK" to keep the name, said bank president Dale Gunther. The value of name recognition that took years to build is simply too much to just throw away, he said.
Names notwithstanding, Bank of American Fork's recent performance is remarkable. Besides adding four branches in three years, the bank maintains a level of capital - about 12 percent - that is double what industry regulators require.
The bank's conservative practices have helped it gain a rating as one of the safest banks in America, Gunther said.
In 1913, a group of American Fork residents started the People's State Bank of American Fork. At the time, there already was a Bank of American Fork operated by the Chipman family. At one point during the Great Depression, both banks closed. Only the People's State Bank, under the direction of Clifford E. Young, reopened.
Orville Gunther, Dale's father, joined the board of directors in 1950. Later, as bank president, he changed the name to simply Bank of American Fork.
"I did it to identify the bank more fully with the city of American Fork," Orville Gunther told the Deseret News. In order to generate community support, he also issued stock to local residents and remodeled the bank, which has stood on Main and Church streets nearly since its founding.
The bank opened its Alpine branch in the early 1970s. The branch has been remodeled several times since then.
Three years ago, the bank opened a branch along U-92 in Highland, then added branches in Lehi and Pleasant Grove. But the Orem branch, a three-story glass building located on University Parkway, has drawn the most attention.
"The site really determines the architecture more than anything else," Dale Gunther said. Perched on the edge of a hill and commanding a beautiful view of Provo and the mountains to the east, the Orem location lent itself to an all-glass design.
"Much of our branching in the north end of the county has been because we've had a large customer base in those areas," Dale Gunther said. "We've just felt it was better to get out near the people."
Bank of American Fork's personal touch is one of its biggest selling points. As community banks disappear, customers who dis-like the unfamiliarity of chain banks are taking their business to Bank of American Fork.
"We're very focused on meeting people's needs on a personal level," said D'Le Borg, marketing and training specialist. "We know and meet people on a one-to-one level and have a personal relationship."
The bank strives to become part of the community in several ways. First, each branch's interior design reflects the history or culture of the community in which it is located. In Pleasant Grove, for example, a large pane of glass depicts the "G" on the mountain northeast of town. In Lehi, pioneers are the theme for interior design.
Second, the branches hire local employees, who are more likely to develop long-term relationships with customers. In three years, the total number of employees skyrocketed from about 75 to more than 150.
"There are just some people who want to deal with community banks," Dale Gunther said. "I think banking is a people business."
The high profile of the bank's branches is enhanced by advertising on hot-air balloons. The bank pays for banners on two balloons that often take flight over Utah County.
So far, the bank has concentrated its efforts on the north end of Utah County. But last month, Bank of American Fork opened a small loan office in Spanish Fork with the aim of eventually locating a branch there.