Salt Lake City— Altabank, Utah’s largest community bank, has been named the 2020 Best of State winner in the community banking category. The award is based on Altabank’s unmatched service to its clients and the communities it serves and reflects the bank’s commitment to powering clients’ financial success.
“Best of State recognizes businesses for overall excellence, innovation and contribution to the community,” said Len Williams, CEO and President of Altabank. “As a community bank we take great pride in representing our communities and helping our clients solve their financial issues. The past couple of months have been challenging for everyone, and our associates have risen to the occasion and demonstrated the qualities our clients have come to expect.”
The Bank’s commitment to helping clients has taken on even greater importance during the COVID-19 pandemic. Altabank quickly put programs and protocols in place to ensure the safety and security of its associates and clients. Changes include shifting most banking activities to branch drive through windows and appointment-only access to branch lobbies. The majority of Altabank’s staff is currently working from home, maintaining ongoing communication with clients and assisting with nearly all regular banking activities online.
Altabank also is actively supporting business clients by deferring loan payments and participating in programs established by the CARES Act. With the financial strength of its parent company, People’s Utah Bancorp (NASDAQ: PUB), Altabank is well positioned to take extra steps to help its clients. PUB recently reported first quarter earnings with total assets of $2.477 billion and net income of $10.77 million. The bank also reported an 11% increase in deposits further cementing its position as the largest community bank in Utah.
“In times of uncertainty people should not have to worry about the safety and stability of their bank,” said Williams. “Two years ago we put a plan in place to manage financial situations like the one we are in now, allowing us to focus on the needs of our clients so they have one less thing to worry about.”
For more information on Altabank, visit altabank.com.