ISSUE 4 • 2025 THE OFFICIAL PUBLICATION OF THE UTAH BANKERS ASSOCIATION UBA Executive Development Program Class of 2025
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Utah Banker 3 TABLE of CONTENTS 4 The Bottom Line By Howard Headlee, President and CEO, Utah Bankers Association WASHINGTON UPDATE 5 It’s Time to Work Together to Stop Scams By Rob Nichols, President and CEO, American Bankers Association 6 2025 UBA Fall Compliance Conference Three Days of Insight and Connection 8 Have You Covered Fair Lending Considerations in the Debt Collection Process? By Tara Booth, Virtual Compliance Officer, Compliance Alliance 10 2025 Emerging Bank Leaders “Igniting Leadership” Conference Highlights 12 Eric Karjalainen Honored With EBL Award 14 Zero-Click Search The New Frontier for Community Banks By Neal Reynolds, President, Bank Marketing Center 16 UBA Bank Executive Winter Conference Utah Bank Leaders Chart a Shared Strategy and Vision for 2026 18 UBA Executive Development Program Class of 2025 20 Bank Kudos 22 Bankers on the Move 24 Welcome to Our New Associate Member! 25 UBA Associate Members
Utah Banker 4 It looks like the new year could be very exciting for the banking industry. New U.S. Comptroller Jonathan Gould has already been busy at work streamlining the regulatory burden, and with the confirmation of Travis Hill as the chairman of the FDIC, we could see some significant shifts in the banking landscape in the coming year, particularly in Utah. The FDIC will now begin to work its way through a backlog of bank applications. In Utah, we have applications from Ford, General Motors, Edward Jones, Stellantis, One Main, Nissan, PayPal and Mercury. (By the time this article is published, there will likely be others.) The world recognizes the great work and commitment from Utah policy leaders to make Utah the best place in America to headquarter and operate a bank, and that could result in unprecedented expansion. But it isn’t all roses for Utah’s banks. The legal dispute between state-chartered banks and the State of Colorado took a bizarre twist late in 2025, which could be devastating to state-chartered banks throughout America. This ruling will have to be resolved in 2026. Hopefully, the 10th District will re-hear the issue and fix the damage it has done to the dual banking system. The FDIC, OCC, ABA, BPI, ICBA, all 50 state banking associations and 20 state attorneys general wrote briefs encouraging the 10th District to reverse course and restore the level playing field Congress intended to establish between national banks and state-chartered banks. If they don’t, we will have to appeal to the Supreme Court or go back to Congress for additional clarity. In 2026, a couple of unresolved rulemakings could have a significant impact on the industry and the economy. After more than a decade of debate, Section 1071 — the small business data collection and reporting rule — will likely be implemented. There is a fairly even split in Congress between those who want to see this misguided Dodd-Frank remnant repealed and those who will fight for it to their last breath. Given that stalemate, implementation of a final rule may be inevitable, and it will be painful and expensive. The rule governing access to customer data (Section 1033) will also likely come to a head in the next year, as it too has been delayed by administrative complexities and fierce debates over information security. We will also see the evolution of policies related to digital assets. The Genius Act of 2025 was the first and simplest domino to fall in this space, and it has already generated a massive battle over the meaning of a straightforward prohibition on the payment of interest and rewards on stablecoin balances. This breach of good-faith negotiation doesn’t bode well for the more complex issues and negotiations coming in the market structure bill of 2026. And who knows, is this the year we will finally get some consensus and clarity around the Community Reinvestment Act? CRA has been punted back and forth over the last eight years, with each of the last two administrations repealing the work of the former and replacing it with their vision of community reinvestment. The heart of the problem here is that the banking industry looks nothing like the industry that existed when CRA was first passed in the ‘70s. As regulators try to stretch the CRA regulations to fit the current nature of the industry, they inevitably extend beyond the law as it is written, which is inherently unstable ground in a post-Chevron world. At some point, Congress is going to have to do their job and codify what CRA should look like in the modern banking world. Bankers are eager to reinvest in their communities, but the regulations must be simple and predictable to navigate. We will continue to promote a flexible and predictable model that is driven by those who best understand the needs of our communities. We will also have to react and respond to advancements in artificial intelligence, the escalation of fraud, the ongoing battle between inflation and interest rates, and the horrific state of the U.S. national debt. So hold on to your hats, the new year will likely be an exciting and challenging one for the banking industry. BY HOWARD HEADLEE, President and CEO, Utah Bankers Association The Bottom Line
Utah Banker 5 The fraud threat is ever evolving, but consumers can count on America’s banks to have their back. WASHINGTON UPDATE It’s Time to Work Together to Stop Scams BY ROB NICHOLS, President and CEO, American Bankers Association Are you an early bird or a night owl? Do you prefer the pool or the beach? Coffee or tea? As ABA’s award-winning consumer education campaign #BanksNeverAskThat points out, banks would never ask a customer these questions. Nor would banks ever ask for a PIN, account number or other personal identifying information in an unsolicited call or message. What banks are asking for, however, is for the government to take a more comprehensive approach to fighting fraud and scams. With fraud losses among Americans now estimated to exceed $12 billion annually, and with scams becoming more sophisticated every day due to the evolution of AI and other technologies, it will take a coordinated effort to combat this dangerous threat. Over a year ago, I called on Congress and the administration to establish an Office of Scam and Fraud Prevention — within the Executive Office of the President — to coordinate interagency efforts, streamline consumer reporting processes, and develop a national scam and fraud prevention strategy encompassing both the public and private sectors. But we also need other industries — especially the telecom sector — to step up and do their part. Scammers use call spoofing, deceptive text messages and fake social media accounts to conduct a staggering number of fraudulent exchanges, and regulations around telecom providers are lacking. ABA has advocated for stronger laws to prevent illegal spoofing, enhanced standards for voice service providers to help consumers identify potentially fraudulent calls, and the establishment of a customer-reported database of scam text messages, which would enable businesses to monitor fraudulent texts being sent on their behalf. As we continue to advocate for more comprehensive rules for telecoms and other entities, banks continue to do their part to protect their customers from the financial and psychological harm caused by fraud. ABA has played a leadership role in recent years to arm bankers with the tools and resources they need to help protect their customers. We’ve established the ABA Fraud Contact Directory, which enables banks to more quickly resolve fraudulent check claims for their customers and identify contacts at other banks to help stop fraudulent transfers of funds. Earlier this year, we also rolled out exclusive ABA member access to check payee verification through the Treasury Check Verification System. This tool has already been used to validate over half a billion dollars’ worth of checks. And this past October, ABA was proud to bring back our award-winning consumer education campaigns — #BanksNeverAskThat and #PracticeSafeChecks — both of which aim to increase consumer awareness about common fraud and scam tactics. These campaigns were updated with new content that banks can access and share for free. I hope you’ll join the thousands of banks across America who have already signed up to participate in this campaign. Your engagement will help us spread this valuable knowledge far and wide, protecting the livelihoods of millions of Americans from fraudsters. The fraud threat is ever evolving, but consumers can count on America’s banks to have their back. Email Rob at nichols@aba.com.
Utah Banker 6 2025 UBA Fall Compliance Conference Three Days of Insight and Connection Bank compliance professionals from throughout the region gathered in Park City on Oct. 28-30 for the 2025 Fall Compliance Conference, a three-day event that showcased the breadth and depth of today’s rapidly evolving compliance landscape. The conference opened with a high-level look at the post-election regulatory environment, setting the tone for discussions on the shifts, challenges and strategic adjustments banks may face in the coming year. Early sessions also underscored how closely compliance now aligns with information security and privacy programs, reflecting the increasingly interconnected nature of risk. A hallmark of the conference was its breakout sessions on days one and two, giving attendees the opportunity to tailor their learning. Topics ranged from flood compliance, mortgage hot topics and Section 1071 to cyber-enabled fraud, third-party risk and emerging trends in point-of-sale financing — ensuring participants could choose the subjects most relevant to their institutions. Day two also featured a forward-looking discussion on the growing importance of standards in bank-fintech partnerships, followed by an economic update from Robert Spendlove. The day wrapped up with topical networking stations, where professionals engaged in candid conversations about shared challenges, creative solutions and lessons learned across institutions. The final day brought together state and federal regulators for a panel that offered transparency, perspective and practical guidance. Afternoon sessions then turned toward some of the timeliest issues facing compliance teams today: the use of AI in banking, shifting enforcement and litigation trends, fair lending considerations, and the continually evolving UDAP/UDAAP landscape. Across all three days, participants gained not only a broader understanding of emerging risks and responsibilities but also a strengthened network of peers committed to navigating compliance with clarity, collaboration and shared purpose.
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Have You Covered Fair Lending Considerations in the Debt Collection Process? BY TARA BOOTH, Virtual Compliance Officer, Compliance Alliance Financial institutions like to keep their losses to a minimum when it comes to delinquent loans, but has your institution considered its Fair Lending risks associated with the process of collecting debt? As we delve into this question, let’s consider how a compliance officer or collections officer would know what examiners expect to see in place for the debt collection process. Do you start by reading the Fair Lending regulations? How boring! Let’s cut to the chase and go straight to the source. I always look to the Fair Lending Exam Manual or the Interagency Fair Lending Examination Procedures to gain insight. As we walk through the debt collection process, let’s keep in mind the prohibited bases found in the Equal Credit Opportunity Act (ECOA): race, color, religion, national origin, sex, age, marital status or receipt of public assistance. Similarly, under the Fair Housing Act, the prohibited bases include race, color, national origin, religion, sex (including gender, gender identity, sexual orientation and sexual harassment), familial status and disability. These prohibited bases also apply to debt collections. A potential Fair Lending issue could arise if, during the debt collection process, the collections department fails
Utah Banker 9 to provide a borrower with information or services regarding any aspect of the lending process, including debt collection. Examples: • The bank tends to work more with married couples, assuming they have two incomes and are more likely to repay the debt if the bank refinances the loan. Single borrowers are not offered a refinance as quickly, based on the assumption that their repayment ability may not be as strong. • A loan officer who performs their own collections tends to work more closely with male borrowers, giving them multiple workout options to avoid foreclosure, while similar options are not offered to female borrowers. To help avoid these situations, the institution can conduct its own analysis of collection procedures with Fair Lending in mind, using available collection data. This process can highlight potential concerns or disparities. MITIGATING FAIR LENDING RISK IN COLLECTIONS What can financial institutions do to avoid any perception of Fair Lending issues in the debt collection process? A good starting point is to centralize the collection process and prohibit lenders from collecting their own debts. Ensure the bank has written collection procedures that include the loss mitigation options offered by the institution. Promote consistency in procedures so that the same options are offered to all borrowers. Procedures should instruct collection staff on how to use the various means of communication — including text messages, email, social media and phone calls — to effectively and fairly reach borrowers. Consider how the institution is represented in these communications. Avoid using third-party debt collectors unless you are very familiar with their practices and compliance with the Fair Debt Collection Practices Act (FDCPA). Address any incentives paid by the bank to ensure compensation structures do not promote unfair treatment or result in discriminatory outcomes. FAIR LENDING AND OTHER REAL ESTATE OWNED (OREO) If the worst-case scenario occurs and the institution must manage Other Real Estate Owned (OREO), are Fair Lending concerns over? Wrong! Examination manuals clearly instruct examiners to look for potential Fair Lending concerns within OREO practices by reviewing statistics on foreclosures and deeds in lieu of foreclosure. They also direct examiners to assess any disparities between groups of individuals in the maintenance, marketing and disposition of OREO properties. For example, do disparities appear in property maintenance tied to the race or ethnicity of the neighborhood? If so, this could constitute a Fair Housing violation. Collection procedures should also describe how OREO properties will be maintained and marketed. Be specific about the type of maintenance, repairs or renovations to be performed, and identify who is responsible for making those decisions. To avoid Fair Lending issues, ensure all OREO properties are maintained equally, regardless of the demographic characteristics of the neighborhood. Examples of potential disparities: • OREO lawns in non-Hispanic neighborhoods are mowed regularly, while those in Hispanic neighborhoods are neglected. • Debris removal or utility maintenance is performed consistently in some areas but not others. Such inconsistencies may suggest discriminatory practices. INTEGRATING FAIR LENDING INTO THE COLLECTION FRAMEWORK If the institution hasn’t already documented its collection and OREO processes within its Fair Lending Risk Assessment or collection procedures, now is the time to enhance those documents and provide greater clarity. In the end, ensure your financial institution can demonstrate that its procedures support Fair Lending compliance throughout the entire lending process — including debt collection and the management and disposition of property taken in the collection of debt.
Utah Banker 10 2025 Emerging Bank Leaders “Igniting Leadership” Conference Highlights The Utah Bankers Association’s Emerging Bank Leaders gathered for an informative and energizing day at this year’s “Igniting Leadership” conference — an event designed to spark new ideas, elevate professional growth and strengthen connections across Utah’s banking community. Held at Thanksgiving Point on Nov. 13, 2025, the conference agenda delivered a dynamic blend of leadership insights, industry expertise and actionable lessons. The morning began with networking over breakfast, after which the attendees received a warm welcome and a timely leadership message from Todd Boren of Celtic Bank. He set the tone for the day with a message to “be engaged, be persistent and be kind.” A session on stablecoins provided attendees with insight into innovations in the financial services sector. It was followed by the popular “Utah Bankers Ignite!” session, which featured short, fast-paced presentations from attendees’ peers highlighting entertaining or poignant viewpoints. Michael Jeanfreau provided an update on Utah’s economy and labor force, offering context on statewide trends influencing banks and their customers. Attendees then enjoyed a hands-on networking activity and a service project, creating bracelets for Stellar Wonderz, an organization dedicated to inspiring hope and brightening the days of hospital patients and their families. After lunch, the inaugural Emerging Bank Leaders Award was presented, and EBL Chair Jessica Sorensen encouraged attendees to become more involved with EBL in the coming year. The afternoon block focused on practical skill-building, including sessions on confident negotiation and the evolving role of AI in banking. The day concluded with a standout keynote from Cesar Castro on “Strategic Storytelling,” where he emphasized the power of narrative to create connection and influence action within our organizations and beyond. The 2025 “Igniting Leadership” conference delivered on its name, arming participants with new perspectives and new connections to ensure a bright future for banking in Utah. Learn more about the Emerging Bank Leaders program at www.utah.bank/ebl.
Ray Quinney & Nebeker is one of the region’s top law firms for banks, lease finance companies, and other financial institutions. We have one of the largest and most sophisticated banking and financial institutions practices in Utah, with many of our lawyers having more than 25 years of experience in this practice area. We represent a broad range of financial institutions, equipment leasing companies and other credit providers, both large and small, including Utah, regional and national financial institutions. We have years of transactional experience with commercial, real estate, and consumer transactions as well as in other more specialized lending and leasing areas. We have demonstrated expertise in resolving risk management issues for financial institutions and other clients such as with problem loans and leases, workouts, and bankruptcy representation. RAY QUINNEY & NEBEKER IS A PREMIER LAW FIRM FOR BANKING AND FINANCIAL INSTITUTIONS IN THE INTERMOUNTAIN WEST. UTAH’S BANKING LAW FIRM “Not only is RQN our go-to law firm for outside legal help, but they are a critical and integral part of our team. They take the time to know us, know what matters to us, and help us craft meaningful and value-adding solutions. RQN gives us best-in-class customer service, matched with world-class expertise.” RICHARD H. MADSEN II Banking and Finance Section Chair rmadsen@rqn.com 801.323.3392 www.rqn.com 801.532.1500 CONTACT US - RQN Banking Client
Utah Banker 12 Eric Karjalainen Honored With EBL Award Congratulations to Eric Karjalainen from Brighton Bank, winner of the inaugural Emerging Bank Leader award! The award was presented during the UBA Emerging Bank Leaders Conference at Thanksgiving Point on Nov. 14. Eric has worked in the financial industry for over 28 years, becoming a respected leader whose commitment to community banking and service exemplifies the ideals of Utah’s banking industry. He has been an active member of the EBL Events Committee for 6 years — even serving as the 2021-2022 committee chair — and is equally dedicated to his team, his customers and his community.
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Zero-Click Search The New Frontier for Community Banks BY NEAL REYNOLDS, President, Bank Marketing Center Just when community bank marketers were starting to get comfortable with AI and digital marketing, the landscape is shifting once again. For years, marketers have labored to master search algorithms, strategize SEO and achieve that enviable top position on the search engine results page (SERP). Some took the more arduous route, with rich content and thoughtful (and often expensive) SEO, while others chased fast fixes like keyword stuffing. Now, enter the “zero-click” era. As Bain explains in “Goodbye Clicks, Hello AI,” AI-powered search engines and generative AI summaries are becoming the norm. Instead of clicking through to a website, users see answers right on the SERP. That’s what zero-click means: no click required. The transformation to zero-click is gaining traction. A Bain survey indicates that approximately 80% of consumers rely on zero-click results for at least 40% of their searches, which is estimated to result in a 15-25% reduction in organic web traffic. For community banks that lean heavily on organic discovery, that change hits hard. WHY IT’S A BIG DEAL FOR BANKS In the not-too-distant past, the search game followed a straightforward buyer journey or funnel: content → clickthrough → engagement → conversion. When someone typed in, say, “how do I open a business checking account?”, that was a bank brand’s moment to shine; someone was following the traditional funnel from content to conversion. However, with AI summaries taking over, that moment of engagement is fading away. Here are the main challenges: Losing Share in Discovery Searches Bain points out that as clickthrough rates drop, marketers are losing “share of voice” in non-branded searches — early-stage queries from people who don’t yet know which bank they’re considering. AI systems compile answers from multiple sources and prioritize those deemed most authoritative or cited. A bank marketer’s carefully crafted content might help inform that summary, but that doesn’t necessarily mean that the bank will get a mention. For instance, someone might ask about “the best mortgage rates in Charlotte, NC.” The AI summary might mention big national banks, brokers or credit unions, while the bank that spent considerable time and money on “carefully crafted content” doesn’t even appear in the SERP.
Utah Banker 15 Format and Structure Matter More Than Ever The SEO tactics that many marketers have been relying upon for years — keyword stuffing, lengthy blog articles, infographics, gated e-books and white papers — are no longer the “go-to” optimization opportunities they once were. AI crawlers and summarization engines favor content that’s well structured, semantically rich (where keywords and variations are used naturally), and broken into digestible sections (e.g., FAQs, definitions, lists). Many of the traditional marketing communication assets don’t fit that bill. As The Financial Brand puts it in their Sept. 23 article, “AI Referrals Are Surging; Are You Ready for the New Customer Journey?”: “AI search engines analyze query intent, cross-check multiple sources, and prefer consistent, authoritative content. This requires structured, machine-readable content across multiple channels.” Click Metrics Become Less Reliable In a world where fewer people click through, traditional key performance indicators (KPIs), such as clickthrough rate (CTR), organic traffic and time on page, lose their significance. You might publish great content, but if no one’s clicking, how do you know what’s working? Fewer Resources Large banks or fintechs can test new formats, invest in AI tooling and rapidly iterate. Community banks usually have lean marketing teams and smaller budgets. That makes any transformation more challenging. WHAT COMMUNITY BANKS CAN DO: ADAPT AND EXPERIMENT While the environment is shifting, there are strategies that can help community banks maintain visibility and relevance. • Pick a niche. Don’t try to compete on every financial keyword. Focus on local or specialized topics (e.g., “small business lending in [your county]” or “community development programs in [region]”). Own that space and increase your chances that AI systems will pick you. • Make your content more AI-friendly. Structure your pages thoughtfully: Use clear headings, FAQs, bulleted lists, definitions and short-answer blocks. Use schema markup* to structure and clarify the purpose of your content. • Diversify formats. Utilize informational videos and interactive tools, including calculators, quizzes and chatbots. AI summarizers not only pull from multimedia formats; they favor them. • Invest in conversational agents. Customers accustomed to the dynamic Q&A interface of ChatGPT have come to expect a similar experience from websites. According to The Financial Brand article: “Moving beyond rules-based chatbots toward AI-powered agents makes it possible to answer nuanced questions, maintain brand voice and hand off seamlessly to human staff when needed.” • Boost domain authority. Leverage press mentions, local news coverage and partner content. Use citations and backlinks to establish credibility and trust. AI algorithms seek out brands that it determines are known and trusted. • Collaborate locally. Work with community organizations, local governments or chambers to co-create content. This may help amplify reach and give additional signaling to AI systems via shared authority. WHAT’S NEXT? Community banks now find themselves operating in a search environment transformed by AI and must rethink content optimization beyond keywords and clicks. Although resource constraints and competition from larger players exacerbate the challenge, community banks that adapt will be able to maintain their relevance in this new, zero-click world. *Schema markup sends explicit signals to search engines and AI regarding the scale and scope of a piece of content. For example, if a search engine reads the word “apple” on a page, schema can clarify whether the content is about the fruit or the company. For additional information on the topic, Neil Patel’s blog is a helpful resource. About Bank Marketing Center Bank Marketing Center is the leading provider of subscription-based automated marketing services to community banks. Our goal is to help bank marketers with topical, compelling communication that builds trust, fosters relationships and drives revenue. We achieve this by automating critical bank marketing functions, including content creation, social media management, digital asset management and, of course, content routing. These services enable a community bank to create and distribute content that drives business without fear of fines, brand damage or customer attrition. Want to learn more about what we can do for your community bank and your marketing efforts? Visit bankmarketingcenter.com, or you can contact me by phone at (678) 528-6688 or email at nreynolds@bankmarketingcenter.com. As always, I welcome your thoughts.
Utah Banker 16 UBA Bank Executive Winter Conference Utah Bank Leaders Chart a Shared Strategy and Vision for 2026 Utah’s banking leaders convened at the Hilton in downtown Salt Lake City on Dec. 5 for the UBA’s Bank Executive Winter Conference, a day of insights spanning economic trends, innovation and public policy. While each session offered its own perspective, the overarching message was unmistakable: 2026 will be a year defined by agility, strategic investment and a united industry voice. The morning began with an economic outlook from Zions Bank’s Robert Spendlove, followed by an in-depth discussion of digital assets between Stablecore’s Alex Treece and Bank of Utah President Branden Hansen. Derek White from CiDR led a forward-thinking discussion on agentic banking, highlighting how AI-driven systems are poised to drive opportunity and responsibility for banks of all sizes. Congressman Blake Moore delivered a timely Washington update, and UBA President Howard Headlee spoke on the critical importance of proactive advocacy in the year ahead to ensure that our efforts can meet a constantly shifting political environment. Utah 2034 Olympic and Paralympic Games CEO Brad Wilson delivered a rousing keynote address after lunch, reflecting on Utah’s unique position as it prepares to welcome the world and the economic and cultural ripple effects that the games will have. After lunch, the UBA’s Executive Development Program Class of 2025 was honored — see page 18 for more. As the conference concluded, one theme emerged consistently across all sessions: Utah’s banking industry is preparing for 2026 with a strong focus on innovation and collaboration. With new technologies emerging, policy landscapes shifting and customer expectations rising, banks are embracing partnerships, sharing insights and adopting forward-thinking strategies to stay ahead.
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Utah Banker 18 UBA Executive Development Program Class of 2025 Congratulations to the 2025 graduates of UBA’s Executive Development Program, who were honored at a special luncheon during the Bank Executive Winter Conference at the Hilton in downtown Salt Lake City on Dec. 5. We look forward to seeing this talented group lead Utah’s banking industry into a very bright future! 2025 EXECUTIVE DEVELOPMENT PROGRAM GRADUATES • Wade Albers, Senior Director of Sales, Medallion Bank • Melissa Bernson, VP/Regional Retail Banking Manager, Bank of Utah • Greg Brandt, Relationship Manager, Altabank • Robert Browning, Board Member, First Utah Bank • Taryn Buhler, VP-Strategic Partnerships, First Electronic Bank • Brian Cheney, Controller, Central Bank • Andy Crow, Branch Manager, First Community Bank • Tim Danner, Commercial Portfolio Manager, Brighton Bank • Eric Decho, Senior Manager, Financial Risk, Comenity Capital Bank • Jaime Elmen, VP-Strategic Partnerships, First Electronic Bank • Jeremy Evans, VP/Director of Information Systems & Security, FinWise Bank • Gavin Fulwider, SVP-Mortgage, CCBank • James Harris, SVP-Zions Bank/Private Banking, Zions Bank • Amanda Helgeson, Director/Transaction Review Control Specialist, UBS Bank USA • Daniel Hinkson, VP-Data Analytics, Medallion Bank • Nate Hite, VP/Loan Workout Officer, Altabank • John Huntinghouse, VP-Marketing, TAB Bank
Utah Banker 19 • Breck Judd, Director of Investment Services, State Bank of Southern Utah • Wendy Kendall, Assoc. Director of Credit Operations, Optum Bank • Lee Lamb, SVP-Marketing & Brand, CCBank • Darin Larson, SVP/Lending Manager, State Bank of Southern Utah • Selena Line, HR Director, First Community Bank • Alan Lunt, VP/Team Lead-Commercial Lending, Bank of Utah • Amy Magleby, Regional Manager, Zions Bank • Blake Marsh, VP-Underwriting, Optum Bank • Tyler Mathis, Officer, Central Bank • Sterling May, Assoc. VP-Human Resources, Bank of Utah • Merisa McCabe, Regulatory Compliance Manager, WEX Bank • Lacey McCoy, Program Manager, Square Financial Services Inc. • Lynette McElprang, VP/Commercial Loan Officer, Zions Bank • Jadzia Morier, Closing Department Manager, First Utah Bank • Jonathan Poon, VP/Information Security Officer, Bank of Utah • Tim Raccuia, SVP, Zions Bank • Brian Roberts, VP-Equipment Lending, TAB Bank • Jeff Rose, Loan Officer, CCBank • Katrina Short, VP/Branch Manager, Zions Bank • Kresten Snow, VP/BSA Officer, Celtic Bank • Briana Thomas, VP-Credit Risk and Analytics, First Electronic Bank • Lisette Thurgood, Senior Complaint Resolution Officer, TAB Bank • Jeff Tilt, Director-Commercial Credit Review, American Express • Spencer Whiting, VP-AENB Affiliate Management, American Express • Roger Widdison, Internal Audit Manager, Celtic Bank Visit utah.bank for more information.
Utah Banker 20 BANK KUDOS BANK OF UTAH Bank of Utah Championship Hosts Trophy Tour Throughout Utah The Bank of Utah Championship, Utah’s annual PGA TOUR event, took place Oct. 23-26 at Black Desert Resort. To celebrate the lead-up to the tournament, Black Desert and Bank of Utah hosted a statewide trophy tour from Oct. 2-10. The tour brought the tournament trophy to various locations throughout the state, including iconic sites, several Bank of Utah branches and the homes of tournament partners. The trophy’s travels culminated on the 18th green of the Black Desert Resort golf course, where it was presented to Michael Brennan on Sunday, Oct. 26. Bank of Utah Opens Vernal Mortgage Loan Office Bank of Utah launched its Vernal — Uintah Basin Home Loan office with a ribbon-cutting and open house on Sept. 17. Bank of Utah leadership joined city and county officials, local businesses, residents and visitors in celebrating the new mortgage loan production office. Bank of Utah presented a $1,000 check as a donation to the Utah Association of REALTORS Housing Opportunity Fund during the ceremony, supporting the critical needs of veterans in the Uintah Basin area.
Utah Banker 21 Bank of Utah Named to the Utah 100 Fastest-Growing Companies of 2025 Bank of Utah was named one of the 2025 Utah 100, MountainWest Capital Network’s annual list of the fastest-growing companies in Utah. Bank of Utah ranked No. 40 out of 100 companies and was honored at the 31st annual Utah 100 Awards, held at the Grand America Hotel in Salt Lake City on Oct. 17. This year’s Utah 100 was selected based on the percentage increase in revenue for each company between 2020 and 2024. Warm Bodies, Warm Souls Winter Clothing Drive Supports Communities Statewide Thanks to participants statewide, Bank of Utah, Arctic Circle and Red Hanger delivered more than 561 bags of warm clothing, along with $10,040 in cash donations, to 15 Utah charities serving communities from Logan to St. George. Since its inception in 2011, Warm Bodies, Warm Souls has grown to become one of the most impactful clothing drives in the state. KEYBANK KeyBank Participates in Junior Achievement Community Program KeyBank teammates visited Granger Elementary in West Valley City to participate in Junior Achievement (JA) of Utah’s “JA in a Day” program. The high-impact event brings volunteers into classrooms to deliver grade-specific JA lessons in a single, energizing day of hands-on learning. KeyBank’s involvement helped students build real-world skills while strengthening community partnerships across the district.
Utah Banker 22 BANKERS ON THE MOVE BANK OF UTAH Amanda Probst has been appointed as a mortgage loan officer at the Bank of Utah’s Provo branch. Drawing on her 26 years in the financial industry, Probst has specialized in mortgage lending, working with credit unions, lenders and brokers on a wide variety of loan types, helping first-time homebuyers, investors and seasoned homeowners alike. Bank of Utah also announced the addition of Carlos Santivanez as a home mortgage loan officer at the Sandy branch. With nearly 25 years of experience in the finance industry, Santivanez will help customers navigate the home loan process with confidence. BRIGHTON BANK Derek Wursten has been hired as the compliance officer at Brighton Bank, bringing over a decade of experience in risk management and compliance within the financial services industry. CENTRAL BANK Central Bank announced the addition of David Soper as SBA manager. David brings 25 years of experience in financial services and banking, with the past 14 years dedicated to business banking. David will oversee Central Bank’s SBA strategy and continue strengthening its commitment to local business growth. Central Bank has also added Ricky Monroe as the new senior lender and assistant manager in the Provo office. With over 35 years of experience, along with degrees from Utah State University and the Pacific Coast Banking School, Ricky brings strong leadership and lending expertise to the team.
Utah Banker 23 KEYBANK KeyBank promoted Martin Guerrera to associate relationship manager with KeyBank’s Key Private Bank in Utah. In this role, Guerrera will focus on providing tailored banking solutions from Key Private Bank’s products and services to help wealth management clients achieve their financial goals. Before joining the wealth management sector, he served on KeyBank’s retail team for more than 18 years, most recently as branch manager in Salt Lake City. SQUARE FINANCIAL SERVICES Square Financial Services welcomes Richard Rosenthal as CEO, president and board member. Richard has an extensive banking and regulatory background, serving as a partner at Deloitte for 17 years, where he specialized in the banking and ILC space. He replaces Lewis Goodwin, who retired after more than 40 years in banking, including several stints on the UBA Board.
Utah Banker 24 TAKE US ANYWHERE! Scan to read the most recent publication. Stay up to date from your couch, office or even the moon! Place a 1” x 1” QR Code White on Black Here to the main website Welcome to Our New Associate Member! TAG SYSTEMS USA INC. Contact: Thomas Grouard, Chief Commercial Officer tgrouard@tagsystems.net tagsystems.net Tag Systems provides banks and financial institutions with card manufacturing and end-to-end services in state-of-the-art premises, complying with the security standards of the major international card payment schemes. They are one of the top three financial card vendors in Europe, and in the U.S., they offer card manufacturing and fulfillment services from their hub in New Jersey. In 2026, they will open an additional facility in Salt Lake City to offer active domestic disaster recovery as well as faster card delivery time to West Coast customers.
Utah Banker 25 UBA ASSOCIATE MEMBERS ABA Insurance Services Inc. 3401 Tuttle Rd., Ste. 300 Shaker Heights, OH 44122 Mike Read (800) 274-5222 mread@abais.com www.abais.com American Security and Privacy 6200 S. Flat Creek Ave. Sioux Falls, SD 57108 Kevin Streff (715) 451-9989 kevin.streff@americansecurityandprivacy.com www.americansecurityandprivacy.com Arctic Wolf Networks Inc. 1221 S. Valley Grove Way, Ste. 200 Pleasant Grove, UT 84062 JT Caudill (469) 744-2008 jt.caudill@arcticwolf.com arcticwolf.com Ascribe 400 N. Tustin Ave., Ste. 402 Santa Ana, CA 92705 Ted Venhorst (714) 872-5858 tvenhorst@triservllc.com www.ascribeval.com Azureity 585 W. 500 S., Ste. 210 Bountiful, UT 84010 Bryan Boam (801) 677-2499 bboam@azureity.com azureity.com B:Side Capital Lisa Adams (303) 657-0010 ladams@bside.org www.bsidecapital.org Baker Tilly 601 W. Riverside Ave., Ste. 1800 Spokane, WA 99201 Mike Thronson (509) 747-2600 mike.thronson@bakertilly.com www.bakertilly.com Bank Marketing Center 95 Old Stratton Chase Atlanta, GA 30328 Neal Reynolds (678) 528-6688 nreynolds@bankmarketingcenter.com www.bankmarketingcenter.com Bankers’ Bank of the West 1099 18th St., Ste. 2700 Denver, CO 80202 Lance Niles (303) 291-3700 lniles@bbwest.com www.bbwest.com BankTalentHQ 3201 W. White Oaks Dr., Ste. 400 Springfield, IL 62704 Ben Jackson bjackson@illinois.bank www.banktalenthq.com Bell Bank 2435 S. Honeysuckle Cir. Mesa, AZ 85209 Tracy Peterson (480) 339-8533 tpeterson@bell.bank bell.bank BHG Financial Institutional Network 10234 W. State Rd. 84 Davie, FL 33324 Keith Gruebele (954) 263-6399 kgruebele@bhg-inc.com bhgfinancial.com/institutional-network BMA Banking Systems 2151 S. 3600 W. Salt Lake City, UT 84119 Adam Weight (801) 887-0103 adam.weight@bmabankingsystems.com bmabankingsystems.com Capital Matrix Inc. 6429 W. Interchange Ln. Boise, ID 83709 Ann Munroe (208) 789-2605 amunroe@capitalmatrix.org capitalmatrix.org Celero Commerce 100 Westwood Pl., #200 Westwood, TN 37027 Jeff Mullen (800) 866-1881 jeffm@celerocommerce.com celerocommerce.com Cherrywood Enterprises LLC 12472 Lake Underhill Rd., Ste. 337 Orlando, FL 32828 Craig M. Geisler (321) 247-5066 cgeisler@cherrywoodenterprises.com cherrywoodenterprises.com Compliance Alliance Inc. PO Box 162407 Austin, TX 78716 Scott Daugherty (888) 353-3933 scott@compliancealliance.com compliancealliance.com Convergint 2211 W. 2300 S. Salt Lake City, UT 84119 Christopher Rawson (801) 336-0704 christopher.rawson@convergint.com convergint.com CrossCheck Compliance 810 W. Washington Blvd. Chicago, IL 60607 Liza Warner (312) 346-4600 lwarner@crosscheckcompliance.com crosscheckcompliance.com Crowe LLP 1801 California St., Ste. 2200 Denver, CO 80202 Sindy Nicholson (303) 831-5000 sindy.nicholson@crowe.com www.crowe.com Discover Debit 1301 McKinney St., Ste. 2500 Houston, TX 77010 Jim Foster (303) 993-4701 jimfoster@discover.com www.discoverdebit.com Dorsey & Whitney LLP 111 S. Main St., Fl. 21 Salt Lake City, UT 84111 Steve Waterman (801) 933-7365 waterman.steven@dorsey.com www.dorsey.com Eide Bailly LLP 5 Triad Center, Ste. 600 Salt Lake City, UT 84121 Gary Smith (888) 777-2015 gsmith@eidebailly.com www.eidebailly.com Engage fi 5550 W. Executive Dr., Ste. 540 Tampa, FL 33609 Emily Harrington (844) 415-7962 emily.harrington@engagefi.com engagefi.com
Utah Banker 26 EVO Asset Consulting 114 S. 140 W. Lindon, UT 84042 Tony Powell (801) 953-8408 tony@joinevo.com www.joinevo.com Executech 10876 S. River Front Pkwy., Ste. 100 South Jordan, UT 84095 Mariah Knopp (801) 253-4541 mariah.knopp@executech.com www.executech.com Federal Home Loan Bank of Des Moines 909 Locust St. Des Moines, IA 50309 Zachary Bassett (800) 544-3452 zbassett@fhlbdm.com www.fhlbdm.com FHN Financial 1000 Ridgeway Loop Rd., Ste. 200 Memphis, TN 38120 Trae Winston (901) 435-8757 trae.winston@fhnfinancial.com www.fhnfinancial.com FinPro Inc. 46 E. Main St., Ste. 303 Somerville, NJ 08876 Scott Polakoff (908) 234-9398 spolakoff@finpro.us www.finpro.us Forvis Mazars 250 E. 200 S., Ste. 1200 Salt Lake City, UT 84111 Bud Hollenkamp (303) 861-4545 bud.hollenkamp@us.forvismazars.com www.forvismazars.us FPS GOLD 1525 W. 820 N. Provo, UT 84601 Matt DeVisser (801) 429-2126 mattd@fps-gold.com www.fpsgold.com Holland & Hart LLP 222 S. Main St., Ste. 2200 Salt Lake City, UT 84101 Timothy Crisp (801) 799-5800 tscrisp@hollandhart.com www.hollandhart.com iDENTIFY 110 S. Hartford Ave., Ste. 2509 Tulsa, OK 74120 Lee Easton lee@goidentify.com www.goidentify.com InterMountain Business Lending 5333 Adams Ave., Ste. B Ogden, UT 84405 Caryl Eriksson (801) 627-1333 ceriksson@im504.com im504.com IntraFi 1300 N. 17th St., Ste. 1800 Arlington, VA 22209 Andy Pohlman apolham@intrafi.com www.intrafi.com isolved 324 S. State St., Ste. 500 Salt Lake City, UT 84111 Brad Rich (801) 664-4454 brich@isolvedhcm.com www.isolvedhcm.com KeyState PO Box 50102 Henderson, NV 89016 Brian Amend (702) 598-3738 bamend@key-state.com www.key-state.com/captive-solutions/ Kirton McConkie 50 E. South Temple, Ste. 400 Salt Lake City, UT 84111 Gary Winger (801) 328-3600 gwinger@kmclaw.com www.kmclaw.com Kobalt Labs 410 W. 23rd St., #3A New York, NY 10011 Kalyani Ramadurgam kalyani@kobaltlabs.com www.kobaltlabs.com KPMG 15 W. South Temple, Ste. 1500 Salt Lake City, UT 84101 Kelsey Cassinelli (801) 333-8000 klusso@kpmg.com kpmg.com MoFi 10 W. Broadway, Fl. 7 Salt Lake City, UT 84101 Dylan Gano (406) 728-9234 dylang@mofi.org www.mofi.org Mountain West Small Business Finance 2595 E. 3300 S. Salt Lake City, UT 84109 Danny Mangum (801) 474-3232 dmangum@mwsbf.com mwsbf.com mysherpas 257 E. 200 S., Ste. 525 Salt Lake City, UT 84111 Josh Talbert (385) 799-6595 josh@sherpas.ai www.mysherpas.ai Newcleus 411 S. State St., Fl. 3 Newtown, PA 18940 Larry Rowley (267) 291-2130 lrowley@newcleus.com newcleus.com ODP Business Solutions 9501 Amberglen Blvd., Ste. 200 Austin, TX 78729 Aaron Pena (512) 729-3732 aaron.pena@odpbusiness.com www.odpbusiness.com OnCourse Learning PO Box 310 Waunakee, WI 53597 www.oncourselearning.com Parsons Behle & Latimer 201 S. Main St., Ste. 1800 Salt Lake City, UT 84111 Gary E. Doctorman (801) 532-1234 gdoctorman@parsonsbehle.com parsonsbehle.com PCBB 1255 Treat Blvd., Ste. 240 Walnut Creek, CA 94597 Michael Johnson (415) 399-5800 mjohnson@pcbb.com www.pcbb.com Piper Sandler Companies 1251 Avenue of the Americas, Fl. 6 New York, NY 10020 Avi Barak (212) 466-7700 avi.barak@psc.com www.pipersandler.com PULSE, a Discover Company 1301 McKinney St., Ste. 600 Houston, TX 77010 Jim Foster (281) 884-8663 jimfoster@discover.com www.pulsenetwork.com/ public/discover-debit/ PwC 201 S. Main St., Ste. 900 Salt Lake City, UT 84111 Ryan Dent (435) 850-9797 ryan.j.dent@pwc.com www.pwc.com R&T Deposit Solutions 1370 Broadway, Fl. 17 New York, NY 10018 Carissa Cancel (866) 237-2752 ccancel@rnt.com rnt.com Raisin 1411 Broadway New York, NY 10018 Shana Hennigan (646) 696-0035 shana.hennigan@raisin.com www.raisin.com Ray Quinney & Nebeker P.C. 36 S. State St., Ste. 1400 Salt Lake City, UT 84111 Richard Madsen (801) 532-1500 rmadsen@rqn.com rqn.com REPAY 3060 Peachtree Rd. NW, Ste. 1100 Atlanta, GA 30305 Brad Call (877) 607-5468 bcall@repay.com repay.com RMCRC 64 E. Winchester St., Ste. 230 Salt Lake City, UT 84107 Christopher Jensen (801) 366-0040 cjensen@rmcrc.org rmcrc.org
Utah Banker 27 Howard M. Headlee President & CEO howard@utah.bank Sara Matute Executive Vice President sara@utah.bank UBA STAFF ©2025 Utah Bankers Association (UBA) | The newsLINK Group LLC. All rights reserved. Utah Banker is published four times per year by The newsLINK Group LLC for UBA and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of UBA, its board of directors or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. Utah Banker is a collective work, and as such, some articles are submitted by authors who are independent of UBA. While a first-print policy is encouraged, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at (855) 747-4003. Beth Parker Director of Education beth@utah.bank Brian Comstock Director of Communications & Marketing brian@utah.bank Jackson Last Deputy Chief of Staff jackson@utah.bank RSM US LLP 2755 E. Cottonwood Pkwy., Ste. 100 Salt Lake City, UT 84121 Jim Cronauer (385) 342-9341 jim.cronauer@rsmus.com rsmus.com Savory Fund 1557 W. Innovation Way, #150 Lehi, UT 84043 Taylor DeHart (801) 642-3800 tdehart@savoryfund.com savoryfund.com Scalley Reading Bates Hansen & Rasmussen 15 W. South Temple, Ste. 600 Salt Lake City, UT 84101 Darwin Bingham (801) 531-7870 dbingham@scalleyreading.net www.scalleyreading.com Select Bankcard 170 S. Interstate Plz., Ste. 200 Lehi, UT 84043 Pete Mudrow (801) 791-1938 pmudrow@selectbankcard.com www.selectbankcard.com Shred-It 205 Winchester Dr. East Stroudsburg, PA 18301 Kevin Kroboth (917) 528-7940 kevin.kroboth@stericycle.com www.shredit.com/en-us/ national-accounts/state-bankersassociation-program Simpson & Company CPAs 5353 S. 960 E., Ste. 102 Salt Lake City, UT 84117 Kenneth Simpson (801) 484-5206 krsimpson@simpson-co.com simpson-co.com Spring Labs 4551 Glencoe Ave., Ste. 330 Marina Del Ray, CA 90292 Nate Schmitt (310) 484-6928 nate@springlabs.com www.springlabs.com SpringTide Ventures 50 W. Broadway, Ste. 333, PMB 32923 Salt Lake City, UT 84101 Austin Walters (801) 822-2544 austin@springtide.com www.springtide.com StrategyCorps 100 Westwood Pl., Ste. 400 Brentwood, TN 37027 Jack Enger (425) 941 8817 jack.enger@strategycorps.com strategycorps.com Tag Systems USA Inc. 2252 S. Presidents Dr. West Valley City, UT 84120 Thomas Grouard (518) 450-9644 tgrouard@tagsystems.net tagsystems.net TCA Compliance 2021 Midwest Rd., Ste. 200 Oak Brook, IL 60523 Michelle Strickland (219) 707-7725 m_strickland@tcaregs.com www.tcaregs.com Tech Legion PO Box 51521 Provo, UT 84065 Lee Weech (801) 935-9923 lweech@techlegion.com techlegion.com The Baker Group 2975 W. Executive Pkwy., Ste. 139 Lehi, UT 84043 Brian Bates (800) 937-2257 bbates@gobaker.com www.gobaker.com Unitas Financial Services 6543 Commerce Pkwy., Ste. M Dublin, OH 43017 Brian Ruhe (740) 967-1131 brian.ruhe@unitas360.com www.unitas360.com Upgrade Inc. 275 Battery St., Ste. 2300 San Francisco, CA 94111 Nik Vukovich (415) 940-7688 nvukovich@upgrade.com www.upgrade.com/institutions Vericast 15955 La Cantera Pkwy. San Antonio, TX 78256 www.vericast.com West Gate Bank Correspondent Mortgage Services 6003 Old Cheney Rd. Lincoln, NE 68506 Clay Blank (402) 853-7026 cblank@westgate.bank tpo.westgate.mortgage Zions Correspondent Banking Group 310 S. Main St., Ste. 1400 Salt Lake City, UT 84101 Phil Diederich (801) 844-7853 phillip.diederich@zionsbancorp.com www.zionscbg.com
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