Last month, the State Bank of Southern Utah joined the USBCI Loan Participation Program (LPP). With 16 locations serving 14 towns and cities across southern Utah, State Bank supports local communities’ financial needs and aspirations.
State Bank of Southern Utah was founded in 1957 by community leaders who saw a need for a bank to service their local financial needs. The ability to make local decisions on loans and financial services has always been at the center of the bank’s culture and business model. Throughout the years, State Bank has recognized the need for personal leadership and decision-making as it expanded its offices into each community we serve. In fact, from the very first stockholder meeting held at the Old Escalante Hotel in Cedar City, the owners, officers, and employees of State Bank have always put the community first.
“Many community banks were founded on the same principles as State Bank,” said Eric Sawyer, SBA product manager at the State Bank of Southern Utah. “The difference is that over the years, State Bank has remained true to its original business principles. Our board of directors is as committed to community success today as our founding directors in 1957.”
As the newest bank partner, it aligns perfectly with USBCI’s mission to empower small business owners throughout the state. USBCI is excited about the partnership’s opportunities and looks forward to collectively achieving great things.
Please visit the USBCI webpage for details on how the program supports Utah’s small business capital needs and assists institutions interested in becoming a lending partner. For general business guidance, please visit Utah’s Startup State Initiative website.
USBCI Program Manager