Our History

ALAMOSA STATE BANK HISTORY

1907: Alamosa National Bank was chartered on February 9 and opened for business on March 14. It was organized with $25,000 capital, and cash on hand was $2,000, $1,200 in currency and $800 in silver. The first day’s deposits totaled $14,659.30. The Original Board of Directors were Chris Wallrich; W.H. Mallett; D.H. Staley; Wesley Staley; John Gerteisen, Jr.; Alexander Oliver; M. Sundquist; C.B. West; Fred Groening, and the First President was Chris Wallrich, who served from 1907 to 1917.

1920: Alamosa National Bank moved from its original location – at the corner of Main and San Juan to its present branch location, off the corner of State and Main. The new building was erected by The Alamosa Realty, Investment and Theater Company.

1933: Alamosa National Bank was placed under conservatorship during the national bank moratorium in 1933. H.W. Zacheis was appointed Conservator by the State Comptroller of the Currency. Alamosa National Bank continued under Conservatorship until reorganization on February 21, 1934, at which time all impounded balances were released and paid in full without restriction or limitation. The bank reported $25,000 of new capital, $5,000 new surplus, and total assets of approximately $290,000.

1959: Alamosa National Bank underwent a major remodeling project, nearly doubling the former floor space. Many new bank facilities were added, including an enclosed walk-up, drive-through banking, a separate installment Loan Department, and a small parking area. This was a time of great growth, as evidence by the bank’s growth in the total assets: in 1920, when the current building was first occupied, total assets were approximately $400,000; by 1961, total assets reached $6,000,000.

1989: Alamosa National Bank was sold to a group of local investors, interested in helping the bank grow into the best bank in the San Luis Valley. The group included Clyde Helms, Jr., Ove Nielsen, Tom Ford, Bud Nielson, Butch Southway and Leroy Belt. Spurred by their positive ownership, the bank experienced great growth in the next several years.

1997: Alamosa National Bank celebrates 90 years in the San Luis Valley, reporting tremendous success and strength. Bank growth is evidenced by 51-percent increase in assets over the past three years. Assets are listed at approximately $53 million. The current Board of Directors includes local businessmen Leroy Martinez, Bud Nielsen, Butch Southway, Tom Ford and William H. Griggs. Another indication of Alamosa National Bank’s strength is the fact that it has one of the strongest capital bases among San Luis Valley financial institutions.

1999: A new state of the art bank building is opened at 2225 Main Street in Alamosa. The downtown location is still open and referred to as the branch location. The new building was needed for the continued growth as assets are now $70 million.

2002: Banks growth continues as assets hit the $100 million dollar mark.

2004: December 31, the bank changes from a federally chartered bank to a state chartered bank. With the change in charter the Alamosa National Bank becomes Alamosa State Bank. The change was made to allow the bank to partner with the Colorado agency, with the interests and the well being of rural and agriculture in mind.

2007: Bank celebrates 100 years of serving the San Luis Valley. The celebration included floats in all parades, open houses, many giveaways and great history displays. Banks assets are $131 million.

2012: Bank adds additional directors, joining Butch Southway, Tom Ford, Jamie Cox, Leroy Martinez and Russell Achatz, is Deborah Ford, Jeff I. Martinez, and Rock I. Southway. The bank’s assets continue to grow and are at $183,875,397 at the end of the year.

2016: Bank is published in The 27 Best Banks in America by John Truman Wolfe

2017: Bank will celebrate its 110th Anniversary this year. The bank's assets finished 2016 at $230,578,147, with 40% market share in Alamosa County.

 

History of Presidents at the Alamosa State Bank
1907 - 1917 Chris Wallrich
1917 - 1921 A.C. Ellis
1921 - 1934 H.E. Warren
1934 - 1961 W.N. Husung
1961 - 1964 H.W. Zacheis
1964 - 1967 Frank L. Bunts
1967 - 1970 Martin J. Husung
1970 - 1975 Delmer P. Keating
1976 - 1984 Vern Stenzel
1984 - 1986 Sterling Emens
1986 - 1990 Bob Suter
1990 - 1993 Jack Retchloff
1993 - 2000 William H. Griggs
2000 - 2005 Roger Knapp
2005 - Present Russell S. Achatz