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Bank of Deseret

 Organization

Biography

The Bank of Deseret was the first state bank and a leading national bank in Utah in the late 19th century and early 20th century.

The Bank of Deseret was incorporated from the Zion's Co-operative Banking Institution in 1871 with Brigham Young as president. It was the first state bank in Utah, and one year later expanded into the Deseret National Bank. It was one of the only commercial banks supported by The Church of Jesus Christ for several years. It was later consolidated with the Security National Bank of Salt Lake City in 1932 due to the Great Depression. It continued as the leading national bank in Utah until well into the 20th century.

Utah History Encyclopedia, via WWW, April 24, 2020 (incorporation, Brigham Young, Deseret National Bank, supported by church, consolidation, first state bank, leading national bank)

Found in 1 Collection or Record:

Oath of president and director of the Bank of Deseret

 File — Folder 1: [Barcode: 31197230307206]
Identifier: MSS SC 911
Scope and Contents

Certificate designating Brigham Young as president of the Bank of Deseret in August 1871. It was signed by Brigham Young and E. Smith, probate judge.

Dates: 1871
Found in: L. Tom Perry Special Collections / Oath of president and director of the Bank of Deseret

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