by Aspen C. Emmett
Journal Staff Writer

The old steel night-deposit box in front of the downtown branch of Community Bank of Cortez has long been sealed shut — kept only as a relic of the building’s historic place in the community.

But the bank has remained open under various names since the early 1900s, except for a brief closure in the ’30s.

However, all that is changing. The bank at 2 E. Main St. will soon close its doors and transfer all its business to the newer building at 1438 E. Main, next to Safeway.

"We understand the history of the building and its role in downtown, and this decision is hard to make," said bank branch president Kevin Mullikin on Wednesday. "It is a business decision. . . the banking environment in Montezuma County is very competitive at the moment."

The downtown location will officially close its doors March 1. The transition should go smoothly, Mullikin said, and there is no projection for job losses.

"At this time there are no plans for layoffs," he said. "We think that the work load is still going to be there."

Mullikin said the newer building, which opened in April 2000, has been handling the majority of Community Bank customers, since it is more accessible than the older location.

"More customers come here anyhow," Mullikin said of the east location. "It has easier access, it has easier parking and it has the drive-up ATM machine. It’s a thoroughly modern building and it’s considerably larger, with 3,000 square feet."

Customers already have the ability to use the two banks interchangeably, he said, and the closure of the branch should mean no noticeable difference for customers, location aside.

Community Bank of Cortez does not own the building but rents the space, Mullikin said, adding that there has been no word as to who or what will occupy the historic site in the future.

"There have been no specifics on what will move in," he said. "But we do anticipate finding a tenant for it."

According to the plaque on the exterior of the old building, it was the first bank in the city of Cortez. Built in 1908, the Montezuma Valley National Bank was constructed of sandstone in a vernacular/commercial architectural theme with classic Greek Revival details, like the stone block building to the west.

The structure was built by the Baxstrom brothers from stone quarried in Hartman Draw.

Originally a private bank in the Creighton Raugh Office, it expanded business over the years but fell victim to the Depression. On Inauguration Day in 1933, the bank closed and operated in liquidation until 1937.

Citizens State Bank bought out the bank and operated under that name until 1957, when it was subsequently bought out by Basin Industrial Bank. In 1999, the Community Bank of Cortez bought the assets of Basin Industrial, operating alongside the second branch for the past year and a half.

In 1993, the building was named to the Colorado State Registry of Historical Buildings.