Simplifying lives since 2000 - Our Story
Stuart B. Allen
While working in the trust department of two large national banks, Stuart Allen became frustrated at being unable to serve clients in a prompt manner. One day he had an epiphany. He saw a need for a local, independent trust company. Soon after, he set out to establish the first trust-only bank in Oregon. He knew it was important for our community to have access to trust services that were reachable and responsive, with local decision makers.
Industry insiders were skeptical of Stuart's vision of a trust-only bank. But his business experience and legal background made him confident it could be accomplished. He was right.
In the year 2000, Stuart launched Allen Trust Company from the cramped, windowless basement of his home and dubbed it the “Bank of the Basement”. It was hard to believe anyone would work there, unless enticed by the free babysitting services his wife Sarah offered.
Even with our humble beginnings, we were able to retain first-class employees from the start. Our diligent work and exceptional client service proved successful. In 2001, we moved to our current downtown Portland office. We are always happy to share our beautiful Mount Hood view over a cup of coffee or tea.
Our boutique firm is a cohesive team of experts. We are a trust-only state chartered bank, licensed in Oregon, Washington and Alaska. However, unlike other banks, we hold no deposits or loans. Our primary business activities are trust administration, investment management, financial planning, and tax preparation. We are proud to be 100% local and 100% independently owned.
Sarah M. Allen