THE COLORADO BANK AND TRUST COMPANY OF LA JUNTA HISTORY
A new financial institution was launched in La Junta June 24, 1907, when a group of La Junta businessmen decided to start a new Bank to be known as the Southern Colorado Trust Company. The Bank had a capital stock of $75,000 divided in 750 shares at $100.00 each. The officers of the new trust company were Fred A. Sabin, President; Eugene Rourke, first vice president; R. J. Parker, second vice president; Charles A. Beerbohm, cashier; W.A. Hart, assistant cashier. In addition to the officers, the Board of Directors included Frank Finney and J.N. Beaty.
After several vain attempts, the new trust company finally selected a name that did not conflict with the title of other corporations engaged in the same line of business and selected Colorado Savings and Trust Company as the name of the Bank. On February 17, 1961, the name changed to The Colorado Bank and Trust Company of La Junta. The Bank first engaged in general savings and commercial Banking, abstracting, real estate and insurance business from the office of Bukey and Hart at 202 Santa Fe Avenue. The Bank negotiated with T. T. Woodruff for a twenty-five foot lot on Santa Fe, but by October 1907 decided to buy the 50 x 60 lot on the corner of Third and Colorado for $5,500 from Mr. Woodruff. It was not until April 1908 the excavation for the new building began but by October of that year, a lovely two-story building was completed. The Bank occupied the north side and the south was the abstract company. Office space on the second floor rented for $10.00.
Since its founding, the Bank has had nine presidents. Fred Sabin served from 1907 to 1914 and was a well-known La Junta attorney. The prominent rancher, Eugene Rourke, was president for four years, 1914-1918. J. L. Gilliland, a Bank officer, succeeded Mr. Rourke and was president during the 1921 recession and the prosperity of the twenties. From 1927 to 1944, W. S. Morrison was president and followed by E. G. Woodbridge, cashier, who remained president from 1944 to 1955 when he resigned to become Chairman of the Board. J. H. Macdonald took over the reins in 1955 and remained until his death in 1968. R. H. Jones was president from 1968 until January 1991 when he became Chairman of the Board. R. M. (Mac) Jones took over for his father as president of the Bank in 1991 and served as Chairman of the Board after his father’s passing in 2001. Mac lost a courageous battle with ALS in 2017, and his son Brad Jones was appointed President and Chairman of the Board in November 2017.
The Bank opened its first branch in Pueblo, Colorado, on January 19, 2006. The new branch was built on the “Mesa” in eastern Pueblo. It opened with seven full-time employees, two part-time, with Bank President Mac Jones commuting from La Junta nearly every day. Customers have appreciated having a bank in the area and made it a great success. We have enjoyed getting to know and participate in the community, proving our mission of “Hometown Banking at its Finest!”
COMMUNITY REINVESTMENT ACT NOTICE
Under the Federal Community Reinvestment Act (“CRA”), the Federal Reserve Board (“Board”) evaluates our record of helping to meet the credit needs of this community consistent with safe and sound operations. The Board also takes this record into account when deciding on certain applications submitted by us.
Your involvement is encouraged.
You are entitled to certain information about our operations and our performance under the CRA, including, for example, information about our branches, such as their location and services provided at them; the public section of our most recent CRA performance evaluation, prepared by the Federal Reserve Bank of Kansas City; and comments received from the public relating to our performance in helping to meet community credit needs, as well as our responses to those comments. You may review this information today.
At least 30 days before the beginning of each quarter, the Federal Reserve System publishes a list of the banks that are scheduled for CRA examination by the Reserve Bank in that quarter. This list is available from the Assistant Vice President – Consumer Affairs, Federal Reserve Bank of Kansas City, 1 Memorial Drive, Kansas City, Missouri 64198. You may send written comments about our performance in helping to meet community credit needs to Brad Jones, President, 301 Colorado Avenue, La Junta, Colorado 81050, and the Assistant Vice President — Consumer Affairs, Federal Reserve Bank of Kansas City, 1 Memorial Drive, Kansas City, Missouri 64198. Your letter, together with any response by us, will be considered by the Federal Reserve System in evaluating our CRA performance and may be made public.
You may ask to look at any comments received by the Reserve Bank. You may also request from the Reserve Bank an announcement of our applications covered by the CRA filed with the Reserve Bank. You may request from the Assistant Vice President – Applications, Federal Reserve Bank of Kansas City, 1 Memorial Drive, Kansas City, Missouri 64198, an announcement of applications covered by the CRA filed by bank holding companies
GIVING BACK TO OUR COMMUNITIES
We would like to thank everyone who helped and donated to our 2023 Blessing Bag Fundraiser! We assembled 101 Blessing Bags, collected $1,580 in donations and helped resupply six area churches with items for individuals and families in need.
