Founder’s grandson shared history, board members and architect spoke
Citizens Bank celebrated the opening of their new bank with a ribbon cutting last Wednesday. David Edward Albright/Tri-City Record
Citizens Bank held a ribbon-cutting Tuesday for its new downtown headquarters at 500 W. Broadway, drawing dignitaries, longtime patrons and Chamber of Commerce Redcoats to celebrate the institution’s century-old roots and $10 million investment in local contractors.
Local musician Robert Webster performed on guitar and vocals.
Danny Beyhan, Citizens Bank and Citizens Bank Shares president and chief executive officer, introduced the two-story, 36,000-square-foot building.
“It’s just great… it’s a lot quieter than our other building,” Beyhan said.
Jen Weller, Citizens Bank chief operating officer, opened the proceedings by introducing San Juan Regional Medical Center Chaplain Linda Stetter, who gave the invocation.
“Citizens Bank helped my very young family start out with great relationships in personal and business banking and those relationships have stood us in good stead all these decades since,” Stetter said.
Jen Weller, Citizen’s Bank chief operating officer. David Edward Albright/Tri-City Record
Beyhan thanked attendees and noted the new building sits adjacent to the recently demolished structure built in 1959, retaining its historic downtown location.
“It would have been easy for us to look elsewhere, but we had a commitment to downtown,” Beyhan said. “And you know, this place just looks great right here.”
Board members include Jeff Howie, Michael Diamond, Ireke Cooper, Ryan Lane, Dr. Alan McCulloch, George Riley III, Jeanette deCay and Nathan Allen.
Beyhan praised Weller for serving as project manager and keeping the project on time and on budget. He emphasized the bank’s local focus.
The new Citizens Bank, east side view. David Edward Albright/Tri-City Record
“Our entire footprints right here in San Juan County, ” he said. “We can only be as healthy as the community.”
When asked what he’s most proud of, Beyhan pointed to the list of local contractors and said the bank spent more than $10 million with them.
“It’s a true win-win. We got a beautiful building, and we were able to support our communities, so I don’t think things get much better than that,” Beyhan said.
Darren Church’ Citizens Trust and Investment Corp. president. David Edward Albright/Tri-City Record
Darren Church, Citizens Trust and Investment Corp. president, said the company acts as trustee for individuals who need help with their finances, managing about $380 million for clients in San Juan County.
Twenty years ago, Citizens partnered with Chicago-based Main Street Advisors, which Church said has been “invaluable in the growth of our company.” He also noted photos of the Four Region by local photographer Mickey Jin.
Citizens Bank and Citizens Trust and Investment Co. Board Chairman, Ireke Cooper. David Edward Albright/Tri-City Record
Citizens Bank and Citizens Trust and Investment Company Board chairman, Ireke Cooper, said, “we are thrilled that you’re here. We’re really happy to see this attendance.”
It was “bittersweet” to see the old building torn down, Cooper said, given the decades of “life-changing business” that took place there. An extensive engineering study showed the cost difference between renovation and new construction was only a few percentage points.
Finding a contractor that specialized in designing banks, who “understands the flow,” enabled a state-of-the-art building, Cooper said.
David Pierce, grandson of Citizens Bank founder. David Edward Albright/Tri-City Record
Bank history
David Pierce, grandson of the bank’s founder, said he got “teased a little bit about wearing a tie. But I’m a historical figure here and I am in period casting.”
Offering anecdotes passed down over the years, Pierce said he couldn’t swear they’re all “completely true.”
In 1903, Thomas A. Pierce moved to Aztec, then a New Mexico territory. With the coming of the railroad, he saw a promising place to do business. He began organizing a new bank, aiming to raise $5,000, a lot of capital at the time.
With tangible capital of $10,000, Citizens Bank opened its doors in February 1905 in the Abrams Opera House. It prospered enough to build a structure on Main Avenue, which still stands.
“There were times when the bank had all the deposits and a fair bit of the capital went out … when a loan was repaid, the next person on the list was notified that funds were available,” Pierce said.
Banking was simpler then, with a staff of three. They closed at 5 p.m., went home for supper and returned to clean and do the postings, he said.
The Great Depression affected the bank, but Citizens was judged sound enough to resume operations after the 1933 Bank Holiday, which about 4,000 banks did not survive.
Pierce said his grandfather was a “little bit tickled” that Citizens reopened before First National Bank in Farmington.
With the oil and gas boom in the 1950s, it became clear a branch in Farmington was needed, but Aztec wanted to maintain headquarters there. Ultimately, Farmington won out.
“Today, the bank is well past its quaint times, but the original plan of serving the people of San Juan County is as rewarding as it ever was,” Pierce said.
The main entrance off Broadway of the new Citizen’s Bank. David Edward Albright/Tri-City Record
Ben LaMacchia, LaGacchia Group senior vice president. David Edward Albright/Tri-City Record
Ben LaMacchia, with the LaGacchia Group, said they are the “design-build company … honored to partner with the bank on this project.”
He said design choices aimed to balance warmth, durability and identity.
He added that the illuminated facade connects the bank to community events and that local subcontractor partners “delivered on that challenge” without interrupting operations.
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