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Show Will Expand . Roosevelt Bank To Merge With Utah Banking Firm Institution Plans New Building On Main Street Property In Near Future R. S. Jordan, cashier of the Roosevelt State Bank, today announced an-nounced that in the near future it is likely that the Roosevelt State Bank will merg-e with the Commercial Bank of Utah. The bank officers have re-alized re-alized for sometime that the banking facilities of Roosevelt should be expanded to care for growing business in the Basin area. After considerable deliberation deliber-ation and study, it was decided that affiliation with the Commercial Com-mercial Bank of Utah would best serve the community interests. The combined capital account of the banks after merger will be in excess of $1,290,000.00, with combined resources of over $15,000,000.00. The Commercial Bank of Utah is strictly an agricultural and livestock bank, with offices in Spanish Fork, Nephi, Payson, Delta and Heber. Its senior officers of-ficers have been doing country banking business for more than 40 years. Mr. Jordan, who will continue as cashier and manager of the Roosevelt office, stated in making mak-ing the announcement that the Central and Southern Utah financial fi-nancial institution is one banking bank-ing organization in Utah which can and will give this area complete com-plete and adequate banking service. ser-vice. He praised the fine staff of the Roosevelt State bank and the association with the new organization or-ganization will in no way affect present employees in the bank. According to Mr. Jordan, a building permit has recently been granted to the Roosevelt State Bank to construct a new and modern bank building on the corner of Main and Lagoon streets in Roosevelt, and the present plan is to begin immediately immed-iately on its construction. A further announcement by Mr. Jordan reveals that a formal application for opening a branch bank at Duchesne has recently been filed. The banking departments depart-ments have not yet had time to act on this application, but if permission is granted, arrangements arrange-ments will be completed for banking service in that thriving community. |