By The Riverton Ranger
Via Wyoming News Exchange
RIVERTON — Fremont County officials are discussing plans to sever their relationship with Bank of the West after the company announced plans to stop investing in oil and gas companies.
On Friday, Aug. 10, Fremont County Treasurer Scott Harnsberger sent out an e-mail to Fremont County Commissioners Clarence Thomas, Jennifer McCarty, Larry Allen, Ray Price and Travis Becker informing them that the bank recently had publicized plans to no longer invest in companies whose main activity is exploring, producing, distributing, marketing or trading oil and gas from shale and/or tar sands.
The bank also has decided to stop financing coal mines or coal-fired power plants that are not actively involved in the “energy transition,” wrote Harnsberger.
“This concerns me,” Harnsberger wrote in the e-mail. “I have been in contact with Bank of the West to let them know that Fremont County benefits tremendously from these industries … that support the economy and (are a) major contributor to Wyoming’s tax base.”
If the bank remains steadfast in its decision, Harnsberger said he would find a different bank for Fremont County to use “that will provide support for those industries.”
“Although the timing is not the best, I have reached out to a couple of local banks to begin looking at moving our funds,” Harnsberger wrote.
He noted that he has been “very satisfied” with the county’s relationship with Bank of the West in the past.
“I have been in contact with BOW Wyoming representatives, who are working to help me better understand their position,” he said.
Becker responded the same day indicating that he shares Harnsberger’s concerns. Becker said he asked Fremont County Clerk Julie Freese “what it will take to find another bank that will support the county.”
“I understand this is not a local decision and may not reflect the local branches, but we certainly should do business with those who want our business,” he wrote, adding, “Scott, I support and applaud your efforts.”
Price also thanked Harnsberger in an e-mail response Aug. 10, agreeing with Becker that “we need to take our business elsewhere.”
Later the same day McCarty wrote, “We should find another bank ASAP.”
Allen had the same opinion.
“We should find a banking institution that supports Fremont County and the people who reside here,” he wrote.
Wyoming Treasurer Mark Gordon also plans to terminate the state’s relationship with the bank, according to published reports.