Central Bank to Rebuild its Historic 1892 Bank in Downtown Springville
Under the vision and leadership of Bank President Mark Packard, and lifelong Springville resident, the bank is embarking on a historic project to rebuild its original bank building on Main Street, first constructed by the Packard family in 1892. This ambitious project seeks to preserve the charm and character of downtown Springville, revitalize Main Street, and honor the legacy of Springville’s early settlers.
“Central Bank has always been deeply rooted in the community, and this project is a testament to our commitment to preserving our heritage while preparing for the future,” said President Mark Packard.
“Our goal is to honor the past by revitalizing Main Street and creating a landmark that reflects the history and spirit of Springville. We are excited to see this dream come to fruition and to provide a beautiful, functional space for our employees, customers, and the city of Springville where Central Bank began,” said Packard.
Extensive research with architects and engineers revealed that restoring the original 1892 structure was not feasible due to safety concerns and the inability to salvage the original building’s contents. Consequently, Central Bank will rebuild a new structure that faithfully replicates the historic design while meeting modern safety and functionality standards.
The current building, which has undergone significant modernization over the decades, will be respectfully deconstructed to restore the original style, carefully matching the pioneer design envisioned by Springville’s founding families.
In phase one of the project, Central Bank will build a new operations center in the back corner of its parking lot.
This new facility will house multiple back-office departments, providing ample space for employees to work comfortably. The operations center will also accommodate all regular deposit and loan banking functions until the new office is completed. Construction of the new operations center is set to begin in the Spring of 2025, with a projected completion date in the Spring of 2027.
Phase two of the revitalization project will be the construction of the new bank office modeled to match the original 1892 building. Construction is estimated to start in the Summer of 2027.
“We are making decisions to ensure that the bank will be around another five generations, at least. This building will make sure we honor our past while also preparing for the future.”
– Mark Packard, president of Central Bank
Central Bank of Utah is excited to embark on this journey to revitalize downtown Springville and looks forward to serving the community from its beautifully restored historic location.
Drive-up and ATM services will continue for customers throughout the construction of the new operations center using the west side of the blue dry-cleaning building located on the corner of 100 West and 200 South, Springville.
