A new banking option has arrived in Prescott Valley, and it comes with more than a century of history behind it.
On a recent episode of PV Talks, Prescott Valley Chamber of Commerce President and CEO Steve Bracety sat down with James Carr, Senior Vice President of Commercial Banking for Adams Bank & Trust. Their conversation covered community banking, economic growth, lessons from past financial crises, and what makes a family-owned bank different in today’s marketplace.
A New Banking Presence in Prescott Valley
Adams Bank & Trust recently opened its newest branch at 1344 Prescott Country Club Drive in Prescott Valley.
The bank’s expansion into Arizona marks an important milestone. Founded in 1916 in Lemoyne, Nebraska, Adams Bank & Trust has grown into a fifth-generation family-owned financial institution with locations across four states.
According to Carr, family ownership remains one of the bank’s biggest advantages.
“That’s rare today in banking,” Carr explained. “You can talk to the owner of the bank if needed. We have multiple family members working in the organization, and we focus on creating a culture that feels personal rather than corporate.”
Why Personal Relationships Matter in Banking
As technology continues to change the banking industry, many customers miss the personal connections that once defined local banking.
Carr believes relationships remain one of the most important parts of financial services.
“It’s important to know your banker,” he said. “At larger institutions, customers can become just another number. We take a personal approach. We want to know our customers and understand their character.”
This relationship-focused philosophy aligns with the values many small business owners and community members seek when choosing a financial institution.
Lessons Learned From the Great Recession
Carr began his banking career in 2002 and experienced firsthand the financial challenges of the Great Recession.
He recalls attending Pacific Coast Banking School at the University of Washington during a time when the banking landscape changed dramatically.
One of the biggest lessons he learned was the importance of managing leverage.
“Leverage kills,” Carr said. “If you’re highly leveraged, you have nowhere to go if the bottom falls out.”
He also stressed the importance of diversification.
Business owners and investors should avoid relying on a single asset or income source. Instead, they should create multiple revenue streams that can provide stability during economic downturns.
The Impact of PPP Loans During the Pandemic
Like many banking professionals, Carr played a role in helping businesses navigate the challenges of the COVID-19 pandemic.
Banks were responsible for processing Paycheck Protection Program (PPP) loans, which provided financial support to businesses struggling through shutdowns and uncertainty.
According to Carr, the majority of PPP loans were ultimately forgiven. In some cases, businesses even returned funds they no longer needed.
While the pandemic created significant uncertainty, he believes the economy has stabilized and entered a healthier phase.
Is the Banking Industry Stable Today?
Many people continue to wonder about the strength of the banking industry after recent economic disruptions.
Carr remains optimistic.
He points to ongoing construction projects, business development, and investment activity throughout the Prescott Valley area as signs of a healthy local economy.
“I think the market is doing well,” he said. “People are deploying capital into projects, and there’s a lot of activity happening.”
Current interest rates, while higher than the historic lows seen a few years ago, remain reasonable from a historical perspective.
Carr noted that many homeowners in previous decades paid interest rates well above today’s levels.
Why Prescott Valley Continues to Grow
Beyond banking, Carr has deep roots in the community.
He moved to the Prescott area in 2002 and has spent nearly 25 years living, working, and raising a family in the region.
He believes Prescott Valley offers an exceptional quality of life.
Residents enjoy four seasons, milder temperatures than Phoenix, and convenient access to larger cities when needed.
“It’s been a great place to raise a family and help the community grow,” Carr said.
That connection to local growth is one reason Adams Bank & Trust chose to establish a presence in the area.
A Fun Look Beyond Banking
The conversation also included a few personal questions.
When asked whether he would rather speak every language or play every musical instrument, Carr chose languages.
He explained that learning another language helps bridge cultural gaps and allows people to better understand different perspectives and traditions.
Later, when asked what his personal theme song would be, Carr selected “Welcome to the Jungle” by Guns N’ Roses.
His reasoning was simple.
Every day brings new challenges, and success often comes from moving forward with confidence regardless of what lies ahead.
Grand Opening Celebration
Adams Bank & Trust is inviting community members to visit its new Prescott Valley location during its official grand opening celebration.
The event is scheduled for June 16 from 5 p.m. to 8 p.m. and will include a ribbon-cutting ceremony.
Community members will have an opportunity to meet the team, tour the branch, and learn more about the bank’s family-owned approach to serving customers.
Building Community Through Banking
As Prescott Valley continues to grow, community-focused organizations play an important role in supporting local businesses and residents.
For Adams Bank & Trust, success is built on relationships, personal service, and a long-term commitment to the communities it serves.
In a banking environment that often feels increasingly automated, that personal touch may be exactly what many customers are looking for.
