HYRUM – Cache Valley Bank is in the process of building a new branch in Hyrum, located at the intersection of Highway 165 and Highway 101, south of the Hyrum Chevron. The bank is planning an unusual floorplan. They are going to incorporate the Holley-Globe Grain and Milling Company Elevator currently located at 100 North Center in Hyrum into the building. The elevator was built in 1918.
George Daines, Cache Valley Bank CEO, said he is at the tail end of restoring three Logan Main Street properties and said incorporating the grain elevator into the Hyrum branch is his way of preserving historical buildings at the south end of the valley.
He said his mother grew up not far from the grain elevator and she remembered going to the train station nearby and taking the train to Salt Lake.
“If our goal is to build long term relationships with our customers,” Daines said, “jumping into beautifying history is an immediate long term commitment to the community.”
When the bank is finished and everything is in place, he said they would like to set up a viewing area at the top of the old grain elevator so people could climb to the top and look out at the valley. The structure is 68-feet tall.
“It’s quite a view,” Daines said. “It also gives a line of sight for all of our banks in valley. The line of site helps our computers communicate with each other easier.”
The construction is expected to take a year. Cache Valley Bank has hired a house mover to move the structure.
When the construction is finished, he would like it to be more of a museum type piece, with interpretive signs and some of the old equipment that shows how the mill operated. According to the building’s registry in the National Register of Historic Places, the elevator is “one of only two known examples in Utah of a grain elevator built using the false timbering construction technique.”
Bank President Bruce Rigby said building the branch and adding the elevator is a substantial investment in Hyrum, on their way of expanding their footprint in the south end of the valley.
“We want to offer banking to people in the south end of the valley,” said Rigby. “Incorporating the elevator into the building makes an iconic statement people can see; it is important to us to preserve history.”
He also said preserving the old elevator is a visual sign agriculture is important to the bank.
“We have a lot interest in agriculture in Cache Valley and it plays a big part in our bank,” he said. “We have a great relationship with farmers and want to emphasize it.”
Even though the old grain elevator is on the National Register of Historic Places, there should be no problem moving it, Jamie J. Van Huss, the Hyrum Museum director said. When things are registered on the National Register of Historic Places, it doesn’t have anything to do with ownership or rights.
They can do with the building what they like, she said.
Van Huss said people have tried for a hundred years to figure out what to do with the building. It is a great example of a stacked plank building.
“I’m glad it is going to be used for something,” she said.” Destroying historic buildings is a way of erasing history.”
Cache Valley Bank has quietly expanded over the past 10 years to become the largest privately-owned bank in Utah, said Tyler Obray, a branch manager.
“When other banks were struggling in 2007, we were building. The last 10 years we have really expanded,” Obray said. “We have about 16 locations from St. George to Smithfield.”