Salt Lake City – April 27, 2021 – Altabank™, Utah’s largest community bank, has received the 2020 Raymond James Community Bankers Cup award. The Raymond James Community Bankers Cup recognizes the top 10% of community banks nationally based on various profitability, operational efficiency, and balance sheet metrics.
Altabank has been an annual recipient of the award since 2016 and is the only community bank in the Mountain West region to be recognized for 2020.
“It is an honor to be recognized as one of the top 24 community banks in the nation for superior performance,” said Len Williams, CEO and president of Altabank. “It highlights Altabank’s overall financial strength and stability, as well as our pledge to deliver customized financial solutions and expertise to businesses and individuals. Altabank is positioned to continue to play a vital role in the continued growth and prosperity of businesses in Utah and the Mountain West.”
The financial performance and stability noted in Raymond James’s assessment have direct benefit to Altabank customers. During year of uncertainty for many banks, Altabank was able to maintain its performance standards in 2020, allowing it to help over 300 small businesses in the form of PPP loans, and support an additional 526 businesses and individuals through a temporary loan payment deferment program. With the Utah economy approaching pre-pandemic levels, Altabank is well positioned to help clients as they resume growing their businesses.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities.
For more information on Altabank, visit altabank.com.