Pub. 3 2015 Issue 1

8 The Community Banker www.mibonline.org Big Sky branch Bank-sponsored Sweet Pea Run in Bozeman Where the main bank is now in Bozeman First Security Bank, Bozeman in the 1960s First Security Bank, Bozeman after 2010 remodel West Yellowstone branch Belgrade branch S ince its founding in 1919, First Security Bank has grown into the largest locally-owned bank in Gall- atin County. The bank now has eight branches in Gallatin and Chouteau counties, and employs over 150 individuals. Initial assets of $328,533 have grown to over $650 million. But First Security didn’t reach these milestones overnight. It’s taken 95 years of consistent, proven performance to grow from more humble beginnings. In the spring of 1919, local Bozeman bankers A.G. Ber- thot, H.S. Buell and W.N. Purdy pooled their resources and abilities to charter a new bank. The location of the proposed bank was a butcher shop at 110 East Main Street. After extensive remodeling, the new bank opened for business on September 19, 1919 as Security Bank and Trust Company. By the mid 1920's, Security Bank and Trust Company had grown large and financially sound enough to remain open as the country entered the Great Depression. By 1957, it was obvious that the bank had outgrown its location at 110 East Main Street, and the board of directors elected to build the new building at 208 East Main Street (the corner of Bozeman and Main streets). The staff moved to the new location in September, 1960. Directors and shareholders, who were concerned about continued efforts by out-of- state banking corporations to gain control of the bank, formed a bank holding compa- ny in 1966 to reduce the likeli- hood of an unfriendly takeover. The holding company, initially named Bozeman Holding Company, changed its name to Inter-Mountain Bancorp, Inc., in 1993, and is now the sole share- holder of First Security Bank. By 1978, the bank was again out of room to physically ser- vice customer needs. The bank was remodeled, and expanded to the East, almost doubling the floor space on all three floors. A more recent remodel to the Bozeman main office was com - pleted in 2010. Geographic expansion has been an important part of the bank’s history as well. Since Featured Member Bank FEATUREDMEMBER BANK: FIRST SECURITY BANK, BOZEMAN