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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.

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Payson Commercial & Trust

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.

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