Born in Halifax, Franklin County, Virginia, Preston was raised on a farm but at age 19 became a store clerk.

Preston was baptized by Henry G. Boyle in February 1857 and shortly afterward was ordained an elder by George Q. Cannon.

In 1871, he became presiding bishop over Cache County, succeeding Peter Maughan, the first holder of this office, who had just died.

Preston served as vice-president of the Utah and Northern Railway (the president was John W. Young), which was key to further economic development of Cache Valley.

Preston served until ill health forced him to resign his position on December 4, 1907.