AmBank opens a third branch in Lindon

LINDON — Aided by three local fifth-graders, Gov. Gary Herbert snipped through a red ribbon outside the new AmBank at the branch's grand opening celebration on Monday.

Herbert, two Utah County commissioners, several members of the city government and community members gathered inside the facility on 144 S. State to celebrate the bank's opening.

"We're going through some rough times, but there's a lot of good things that are happening in Utah," Herbert said. "This is a good example of one of the good things that (are) happening."

AmBank President Leonel Castillo said that while the economy has struggled over the past few years, AmBank was able to open a new branch because of the financial decisions made by its board of directors.

"They have been prudent and they have been wise in their leadership institution," he said.

The branch will be community bank's third; other AmBank locations include Provo and Heber City. In Lindon, the bank will add to the commercial corridor along State Street that the city has worked hard to create, said Lindon Mayor James Dain.

"This commitment by AmBank to be here at this location shows their commitment to our community, to Utah County and certainly to the state of Utah," he said.

During the celebration, Herbert handed out awards to the winners of a fifth-grade essay contest. Jacob Radmall, Alyssa Nelson and Jace Roberts each received a $100 savings bond and a flag flown over the USS Missouri. On the steps of the bank, they joined with Herbert in cutting the red ribbon.

The bank has weathered the economic climate well and is in good financial condition, said Jackson Howard, chairman of AmBank's board of directors.

"We don't need any stimulus," he said. "We've got a lot of money to lend; we want to lend it. All we need are borrowers that'll pay us back."

e-mail: jritter@desnews.com