November 18, 2009
Payson’s first “real” bank was the Payson Commercial and Trust Co., and it was also a mercantile. Started in 1916 it came to a bitter end in the early 1930s the victim of a variety of things, including the times — it was The Great Depression.
Stories this photo appears in:
Many say that the United States has its worst economy since the 1930s. It’s worth noting that even the little town of Payson was not immune to a key widespread problem during the 1930s: bank failures. Here’s the story of Payson’s first bank and how it collapsed during the Great Depression.