Malad City’s U.S. Bank Branch to Close After Over a Century of Service

The U.S. Bank branch in Malad City, Idaho, has a rich history dating back to 1907. Originally established as Idaho First National Bank, the institution faithfully served the community from its location at 25 East 50 South for more than 117 years, offering full-service banking solutions.

In 1964, the bank became First Bank and Trust, expanding its reach into Preston, Soda Springs, Grace, Bancroft, and Lava Hot Springs. Under the leadership of President Lawrence Jones, the Jones family played a significant role in its regional growth. However, the bank was closed by the FDIC in May
of 1986.

Amidst evolving technology and the shift from manual to electronic banking, the institution moved into a modern building at the corner of 50 South and Main in 1985. The new facility marked a transition into more efficient banking practices using computers. That same year, Idaho First constructed the building that would eventually become a U.S. Bank branch. Initially becoming West One Bank, the facility was created because the original structure was deteriorating and no longer met the needs of a growing customer base. Lou Ann Thomas recalls the difficulties of retrieving records from the pigeon-infested upstairs of the old building, which had broken windows and no drive-up window.

That original building now houses the Veterans Memorial.

In May 1986, the bank officially merged with U.S. Bank, which has since maintained a strong presence and served the community as a reliable local institution.

However, as part of a broader strategy to adapt to changing customer preferences and the ongoing shift toward digital banking, U.S. Bank recently announced the closure of several branches in Idaho, including the Malad City location. The Malad branch is scheduled to close on
May 19, 2025.

The closure reflects U.S. Bank’s effort to reevaluate its physical footprint and enhance its digital services to better meet the needs of today’s customers.

“We’ve just about seen it all here,” said longtime employee Sandy Facer. “We’ve seen a robbery, merged banks—everything you pretty much see at a bank besides a fire.”

The future of the building remains uncertain. The school district currently rents the upstairs, but the fate of the bank’s portion is still undetermined.

Reflecting on her experience, Sandy Facer added, “It’s been an amazing ride with a great community—it’s been a joy to serve them.”