UAACC Charitable Foundation Receives $100,000 Grant from KeyBank in Support of Utah Youth KeyBank has awarded a $100,000 grant to the Utah African American Chamber of Commerce (UAACC) Charitable Foundation to support the organization’s career exploration programming for high school and college students. The UAACC Charitable Foundation was founded by the Utah Black Chamber in 2018 to further its mission of improving the overall economic development of Utah’s Black community. The foundation provides events and programming to start and grow more Black businesses, strengthen the pipeline of Black talent for Utah corporations, and build the area’s overall Black wealth. “Our KeyBank giving strategy is focused on three pillars: neighbors, education and workforce,” said Drew Yergensen, president of KeyBank Utah. “This grant will help the UAACC Charitable Foundation equip young adults in our community with the confidence, skills and training needed to achieve sustainable employment and build a strong workforce pipeline for local businesses.” STATE BANK OF SOUTHERN UTAH State Bank of Southern Utah Expands Corporate Headquarters State Bank of Southern Utah completed its new addition to their Corporate Headquarters in Cedar City, Utah, adding 22,000 square feet. Construction started in June 2022 and was completed in November 2023, just in time to celebrate the bank’s 66th birthday. State Bank hosted a ribbon-cutting ceremony and a community open house to celebrate this occasion. President & CEO Eric Schmutz shared, “We are grateful for the continued support of our customers that made this expansion necessary. The mission of the bank to improve the lives of our customers, employees and the communities we serve is as true today as it was when the bank was founded 66 years ago. The continued growth of the bank is another testament to the need for a true community bank that builds relationships, understands the community and makes local decisions.” He ended by emphasizing, “From 12 employees to almost 300 employees, those principles are the same … our roots are in Southern Utah, not just our branches, and that’s what we intend to be for years and years to come.” TAB BANK TAB Bank Provides Printing Companies in Ohio with a $5 Million Credit Facility TAB Bank is pleased to announce it has provided two printing companies based in Ohio with a $5 million credit facility. The facility consists of a $4 million revolver and a $1 million term loan. The new facility is extended through a multi-year agreement and will provide for the companies’ ongoing working capital needs. The companies provide point-of-purchase and merchandising display solutions, specializing in plumbing fixture displays as well as paint color cards and other products for sales and marketing purposes. Utah Banker 21
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