Looking back over the past year, Scott Applegate is proud of the Bank of Estes Park and its contribution to the local community. The Alexander Mountain Fire and the Downtown Estes Loop project caused challenges and business disruption. Fears about tariffs and uncertainty about the economy also affected consumer confidence. Through fire, rain, a pandemic, and market swings, the locally owned bank has been a beacon of calm through many storms.
Looking ahead, Applegate, the bank’s president and CEO, is ready to welcome the community to a 60th anniversary celebration on Friday afternoon from 4:30 to 6:30 p.m.
The event will include a Chamber of Estes ribbon-cutting to open the newly renovated Then and Now Conference and Community Room on the second floor. Cowboy Brad Fitch will be on hand to entertain with music related to all things local. The first 60 guests who arrive after 4:30 p.m. will receive a commemorative t-shirt.
The renovation includes three-dimensional signage of the bank’s name and logo, which Kent Smith, an Estes Park sign maker fabricated jut before his sudden death in May. His daughter, Audri Smith, completed and installed the signage.
The recipients of the Bank’s Golden Antler Awards will be announced at the celebration. The awards recognize a person or organization that has made an important contribuion on the Estes Park community. This is the third year for the award, which includes a cash grant to local non-profits.
In 2023, Randy Maharry and Scott Webermeier, in memoriam were the inaugural recipients. Maharry selected the Village Thrift Shop, which received a $2,000 grant and Kate Webermeier accepted the award on behalf of her late husband and selected the Estes Park Learning Place, which received a $3,000 grant. In 2024, the Bank of Estes Park awarded the Golden Antler award to Brian Schaffer, executive director of Crossroads Ministry, and the founders of The Bridge of Estes, Lisa Hohensee, Jean Tasker, Nicole Gassmann, and Maureen Mcann. Schaffer selected Crossroad Ministry, which received a $2,000 grant, and the founders of the Bridge received a $2,000 grant which helped to fund their work as a cancer support program in the Estes Valley.
History of the Bank of Estes Park
The Bank of Estes Park’s hyperlocal focus distinguishes it from larger banking institutions, said Applegate in an interview with the Estes Valley Voice.
“We may not be the biggest, but we are very strong, very liquid, and well capitalized,” said Applegate. The Bank of Estes Park has a superior five-star rating from BauerFinancial, meaning that it is recognized as one of the strongest financial institutions in the nation.
“We really are local. Our customers’ deposits stay here and fund local loans, and profits stay here in a bank still owned by shareholders who are still 60% local, said Applegate. “On a practical level, that means we are particularly attuned to local issues.”
A group of locals came together in 1963 and applied for a national bank charter, which was approved on Sept. 4, 1964. The First National Bank of Estes Park opened its doors on Jan. 5, 1965 at 300 East Elkhorn Ave. and was “authorized to commence the business of banking” according to a public notice signed by James J. Saxon, Comptroller of the Currency for the Treasury Department of the United States.
The bank acquired land at the corner of Devils Gulch Avenue and Park Lane. The property was originally the Estes Park Grade School before becoming Park Lane Baptist. The old building was razed, and a ceremonial groundbreaking took place on Oct. 1, 1968. Seven months later, on May 5, 1969, the new two-story Alpine-style building was ready for business. The building included the town’s first drive-up banking lanes. One interesting feature was an antique vault door from the Denver National Bank, which is prominently visible in the bank’s lobby.
In 1978, the bank was remodeled, and in 1983, the interior and exterior were extensively renovated.
One major change occurred in 2012 when the bank transitioned from a national to a state charter with the FDIC. The change required the removal of the word “national” from its name and rebranding as the Bank of Estes Park.
The Bank of Estes Park at 60 — all about local, local, local
Today, the Bank of Estes Park has 27 full-time employees, 12 of whom are officers. Applegate is proud that 60% of the bank’s officers and 67% of the bank’s officers are women. One of the officers, Jean Tasker, won the 2024 BizWest Women of Distinction Award for Banking and Finance for all of Northern Colorado. He is also proud that officers and employees contributed more than 2,700 volunteer hours to local organizations.
Applegate is particularly proud of several community service initiatives, including partnering with the Estes Valley Board of Realtors to raise $50,000 for the Estes Valley Fire Relief Fund, establishing a matching fund for Alexander Fire victims, and helping launch The Bridge of Estes. This local non-profit organization supports people dealing with cancer. The bank sponsored a paper shredding fundraising event, Shreds of Hope, for The Bridge.
“From our very first day until now, our mission has remained unchanged—to serve our clients, our community, our employees, and our shareholders,” said Applegate. “We were formed by locals to help Estes Park prosper and grow, and through floods, pandemics, fires, good times and bad, this is still our dream and what we come into the bank to accomplish every day.”
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