How Pioneer Trust Bank Began
The story began when Asahel Bush and William S. Ladd organized Ladd and Bush Bank in 1869. Asahel Bush was the founder, editor, and publisher of The Oregon Statesman which he sold in 1863. Asahel Bush died on February 13, 1913.
This institution prospered and expanded and as the years passed it became evident that, in addition to the normal banking services of the day, there was a need for local trust services. Therefore, A.N. Bush, son of Asahel Bush, formed a separate trust institution which was incorporated on May 13, 1924, under the name Ladd and Bush Trust Company.
In 1939 when A.N. Bush elected to sell Ladd and Bush Bank he named H.V. Compton to represent his interests and the bank was sold in 1940 to the United States National Bank of Portland. However, Ladd and Bush Trust Company was not a part of the sale and Pioneer Trust Company was selected as the new name. At that time the company was moved from a small building adjacent to Ladd and Bush Bank to its present location at the northwest corner of State and Commercial Streets.
From Then to Now
See what makes Pioneer Trust Bank is what it is today.
In July 1968 Pioneer Trust became a full service bank.
The Salem Medical Center Branch was opened at 12th and Oak Streets in 1975.
In 1985 Pioneer Trust became a National Bank and a member of the Federal Reserve System.
The founder A.N. Bush served as president until his death in 1953. He was succeeded by H.V. Compton. H.V. Compton in turn was followed by K.E. Wenger in 1961. He held the leadership role until 1972 when Stuart Compton was named President.
In 1987 Stuart Compton became Chairman of the Board and Chief Executive Officer. William Meier became President. In 1991 Meier also assumed the Chief Executive Officer position.
William Meier was named Chairman of the Board in 1998. At that time Michael Compton was elected President of Trust and Investment Services and Randy Compton was elected President of Banking Services. Randy and Michael Compton have also assumed Chief Executive Officer duties.
In 2017 John Willburn was elected President. Willburn assumed the role of Chief Executive Officer in January of 2021. Randy Compton and Michael Compton continue to serve as co-chair on the Pioneer Trust Bank Board of Directors.