Walter E. Cosgriff
Walter E. Cosgriff | |
|---|---|
| Born | Template:Birth date Salt Lake City, Utah, U.S. |
| Died | September 1, 1961 (aged 47) Nevada, U.S. |
| Occupation(s) | Banker, business executive |
| Years active | 1938–1961 |
| Known for | Chairman of Continental Bank and Trust Company; President of Bank of Las Vegas; majority owner of Salt Lake Bees |
Walter Everett Cosgriff (July 4, 1914 – September 1961) was a prominent American banker who led the Continental Bank and Trust Company as chairman and subsequently became president of the Bank of Las Vegas. Additionally, he held the position of majority owner of the Salt Lake Bees, a minor league baseball franchise located in Salt Lake City, Utah.
Early life
Born in Salt Lake City, Utah on July 4, 1914, Walter E. Cosgriff came from a family with deep banking roots.
His father, James E. Cosgriff, originally from Burlington, Vermont, relocated to Rawlins, Wyoming in 1890 to pursue sheep farming before establishing a banking institution there. In 1905, James purchased the Commercial National Bank of Salt Lake City. After merging with the National Bank of the Republic in 1920, the institution was renamed Continental Bank and Trust Company. James served as president until January 1938 and continued as chairman until his passing in September that same year. The J.E. Cosgriff Memorial Catholic School in Salt Lake City commemorates his legacy.
His mother was Mildred Dobson.
Business career
Following in his father’s footsteps within the banking sector, Cosgriff was appointed to the board and became first vice president of the First National Bank of Rawlins, Wyoming shortly after his father’s death in late 1938. He eventually rose to chairman of the Bank and Trust Company. By 1954, his banking interests spanned numerous states including Utah (Salt Lake City, Richfield, Bountiful), Colorado (Colorado Springs, Meeker, Rifle), Idaho (Boise, Richfield, Whitney, New Plymouth, Caldwell, Wilder, Idaho Falls, Marsing, Homedale, Bruneau), Kansas (Beverly), Nevada (Las Vegas), California (Long Beach), and Wyoming (Evanston), overseeing assets valued at approximately US$200 million.
Cosgriff later assumed the presidency of the Bank of Las Vegas, where he worked alongside chairman Nate Mack.
In 1950, President Harry S. Truman appointed him to serve on the board of directors for the Reconstruction Finance Corporation. He held this role until May 1951 when he resigned due to conflicts with Comptroller of the Currency Preston Delano.
Besides his banking ventures, Cosgriff was also the principal shareholder of the Salt Lake Bees, a minor league baseball team based in Salt Lake City.
Philanthropy
Cosgriff contributed to community service by serving on the University of Utah’s board of regents as well as on the board of trustees for Salt Lake City's Holy Cross Hospital. He also held the position of vice president for the western division of the Young Presidents' Organization.
Personal life
On June 7, 1937, Cosgriff married Lula Enid Barr in Salt Lake City. The couple had three children: a son named Anthony and two daughters, Lyn and Trix. Lula Barr was recognized for her philanthropic work; she co-founded Ballet West and supported numerous Catholic charitable causes. She was honored as a Lady of the Order of the Holy Sepulchre by Pope John Paul II. An avid golfer himself, Cosgriff participated in golf tournaments and shared his wife’s Roman Catholic faith. His memberships included organizations such as the Benevolent and Protective Order of Elks, Alta Club, University Club of Salt Lake City, Salt Lake Country Club, Fort Douglas Golf Club, and Ambassador Athletic Club.
Death and legacy
In September 1961, Cosgriff lost his life in a car accident that occurred in Nevada. His memorial service took place at the Cathedral of the Madeleine located in Salt Lake City. After his passing, E. Parry Thomas was appointed as the new president of the Bank of Las Vegas. Cosgriff's widow passed away in 1997. To commemorate his contributions, the Walter E. Cosgriff Memorial Endowed Scholarship Fund for Ballet at the University of Utah was created in 1980.