The previously announced acquisitions of two Utah banks have been recently completed.
Regions Bank of Birmingham, Alabama, has closed on its deal to acquire Salt Lake City-based EnerBank USA, a point-of-sale lender serving homeowners and contractors through a series of loan programs and digital solutions that support a wide range of home improvement needs.
“The addition of EnerBank’s exceptional team and leading-edge technology will help Regions deliver even greater value to customers who are seeking convenient, competitive solutions for efficiently financing home improvement needs,” said Scott Peters, senior executive vice president and head of the Consumer Banking Group for Regions Bank.
Through its nationwide reach, EnerBank USA has served more than 1 million homeowners since its inception and currently works with over 10,000 contractors by offering mobile, online and phone-based point-of-sale lending options. Lending services are delivered directly to homeowners at the point of sale by contractors who are part of EnerBank’s national network.
Over time, the EnerBank USA name will consolidate into the Regions Bank brand. The EnerBank team will remain based primarily in Salt Lake City.
Glacier Bancorp Inc. of Kalispell, Montana, has completed its acquisition of American Fork-based Altabancorp, the bank holding company for Altabank, the largest community bank in Utah.
Altabank provides banking services to individuals and businesses throughout Utah and southern Idaho with 25 branch locations from Preston, Idaho, to St. George and will operate as the newest banking division of Glacier Bank under the name “Altabank, Division of Glacier Bank,”
“We are excited to welcome Altabank and their shareholders to the Glacier family and are very pleased with how smoothly the transaction process went and that the acquisition closed ahead of schedule,” said Randy Chesler, Glacier’s president and CEO.
Glacier Bancorp is the parent company for Glacier Bank and its bank divisions located across its eight-state western U.S. footprint.