Buena Vista, CO - Legacy Bank recently secured regulatory approval to open a full-service bank in Buena Vista further expanding the bank’s regional footprint in Colorado. As a leading community bank in Southern Colorado, Legacy Bank owns 7 other bank locations. The expansion into Buena Vista and a third location in Pueblo opening in the fall brings the banks total ownership to nine branches.
“Legacy Bank is excited to become apart of the active Buena Vista community. The residents commitment to their town and investment in each other aligns with the community values of our organization and is a natural fit for our growing establishment,” commented Regional President Andrew Trainor.
Legacy Bank has been in operation since 1907 and has a history of high community involvement in the cities they serve making it a hallmark of their business culture. That operational philosophy rings true with the hiring of Senior Vice President, Dave Reyher, a Buena Vista local for well over 12 years who has been hired to run the Buena Vista branch.
“When I learned of Legacy’s plans to open in Buena Vista, I felt that it truly matched the spirit of the local community. Open-minded, fresh, and connected are all words that reflect the best of Buena Vista and the best of Legacy Bank,” mentioned Reyher. “I am grateful to be able to lead this type of community-focused organization in my hometown.”
Reyher was hired in November to oversee the the integration of the bank into the community. He is well-versed in small business, agriculture, and consumer lending.
“Dave was the right fit for Legacy Bank’s leadership in Buena Vista. 35-plus years of high quality banking experience was obviously important, but equally important is Dave’s passion for Buena Vista residents both in business and friendship,” commented Trainor. “Our business model is about serving and giving back. It takes a skilled community advocate to make that leadership possible.”
In November, Reyher took the first steps toward bank development by opening a loan production office on the street level of the Historic Orpheum Theatre at 413 E. Main Street, Unit 130 while awaiting regulatory approval for the full-service bank request that recently passed. With the approval, the bank will proceed to expand its full-service bank offerings and will also change locations to accommodate the growing needs of the organization with a move to Unit 100 in the Orpheum Theatre.
Tentative timelines reflect a June 10 bank opening following some minor remodeling of unit 100. However, Legacy Bank has deeper plans to become more permanently rooted in the community. The bank expects to close on Thursday, April 26 on the purchase of the vacated property at 430 East Main Street. The plan for new construction includes a drive-up facility and is expected to be up-and-running in approximately 18-months.
“Legacy Bank understands what it means to be invested in community. They knew that property ownership is key to being connected to the needs of the local residents,” added Reyher. “Chaffee County represents a great cross-section of life in small town America, the only true way to be a part of that is to jump in and get involved.”
Excitement for the new location is spread throughout the entire Legacy Bank organization and extends to its home-base of operations in Wiley, Colorado managed by the Esgar family.
Legacy Bank Corporate is directed by third generation founder David Esgar whose family opened the original bank as the State Bank of Wiley serving the Arkansas Valley and Front Range.
“We are and always will be a community bank where decisions are made locally by professionals who know the needs of the region and act in a capacity of understanding that moves communities forward,” commented Esgar. “It is only through the professional services of helping one another that we can carry on to obtain a higher standard of living for all of Colorado. We are excited to add Buena Vista to the list of community leaders championing one-on-one banking.”
Until construction is complete, Legacy Bank can be reached at their initial location on Main Street and is open 9:00-5:00 Monday through Friday (719) 395-5873 or online at www.eLegacyBank.com
We are proud to celebrate the following recent awards and recognitions received by Legacy Bank and it's staff!
Contrary to national trends, Legacy Bank executive branch leaders are seeing the payoff of bucking today’s average employee tenure rate. In a recent announcement, Legacy Bank promoted twelve employees in which the median tenure was 8 years; almost double the 4.2 years reported by the Bureau of Labor Statistics.
“We value our staff as much as our customers,” commented Andrew Trainor Regional President of Legacy Bank. “Employee loyalty is part of our culture and it is at the core of what makes Legacy Bank such a personable banking experience.”
Legacy Bank conducts a highly disciplined promotional process in which candidates must represent both the necessary and soft skills to execute their role, demonstrate the ability to manage feedback effectively while exhibiting initiative and professionalism.
“While turnover in today’s society is fairly common, Legacy Bank has been able to recruit, retain, and celebrate our employee development,” added Trainor. “Providing crisp definitions of employee expectations and the skill required to perform duties makes promotion not only achievable, but desired.”
Significant promotions within Legacy Bank are reviewed by a promotions counsel that consists of members of the Board of Directors.
“Our employees are doing their life’s work for our company. Their time, talent and efforts should be recognized when they have labored diligently to reach our mission on an ongoing basis,” remarked Trainor.
The twelve promoted employees represent all seven markets served by Legacy Bank.
National information on employee tenure is routinely gathered from the Current Population Survey (CPS) through supplemental questions gathered every 2 years since 1996. The median number of years that wage and salary workers have been with their current employer has continued to decline in recent years. The most current data collected in January 2016 was 4.2 years, down from 4.6 years in January 2014, according to the U.S. Bureau of Labor Statistics.