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Show U.S. Thrift converts to full-service bank U.S. Bank of Utah, formerly U.S. Thrift and Loan, marked its first day as a full service bank Monday, Oct. 5, almost four months after it received approval to make the switch. It took some time to get organized and make the changes. U.S. Ban- . corp received final approval of the change from the Federal Reserve Board in June. Both state regulators and the Federal Deposit Insurance Corp. have previously signed off on the switch. U.S. Bank will continue to focus on consumer banking as it did as an industrial thrift and will phase in commercial lending and other banking services beginning in 1988. They plan on being competitive locally in all banking areas. The new $40 million bank has offices in Logan, Brigham City, Salt Lake City, West Jordan, Holladay, Orem, American Fork and Price. It is a subsidiary of U.S. Bancorp with about $10 billion in assets and operations in Washington, Oregon and Utah. |