People’s Utah Bancorp (PUB) has announced that it has hired Len E. Williams as executive vice president with the intent that he will replace Richard T. Beard as president and CEO of the company and as CEO of the company’s wholly owned subsidiary People’s Intermountain Bank (PIB) when Beard retires in January 2018. Williams will report to Beard until his retirement.
People’s Utah Bancorp is the holding company for People’s Intermountain Bank with 18 locations in two banking divisions, Bank of American Fork and Lewiston State Bank, and one leasing division, GrowthFunding Equipment Finance.
Williams, who began serving on the PUB board of directors in January, brings more than 37 years of experience in the commercial banking industry, most recently as president and CEO of Home Federal Bank in Nampa, Idaho, from 2006 through its sale to Bank of the Cascades in 2014. During his tenure, Home Federal completed two acquisitions of banks with combined total assets of $887 million. Home Federal’s core deposits grew from 47 percent to 78 percent of deposits during under his leadership. From March 2005 to the time he started at Home Federal, he served as senior vice president and director of business banking at Fifth Third Bank in Cincinnati, Ohio. He also served in leadership and executive roles with KeyBank and with Rainier National Bank in Seattle.
Williams received his MBA in business management and finance in 2000 from the University of Washington Foster School of Business in Seattle. He received a banking certification in general banking in 1987 and is a graduate of the Pacific Coast Banking School in Seattle. His extensive experience in mergers and acquisitions and in commercial lending will be of great benefit to PUB, the company said.
“Replacing the CEO and president of both PUB and PIB has been a major focus of our efforts over the last few months,” said Beard. “Our Nominating and Governance Committee of the board has conducted an extensive search. We are delighted that Len will join us. I look forward to working with him to make a smooth transition of my duties to him.”
“We are fortunate to have someone with the wealth of knowledge and experience of Len’s caliber join our team,” said Dale O. Gunther, vice chairman of the board and the chair of the Nominating and Governance. “We appreciate the dedication and leadership Mr. Beard has provided since 2005.”
“I am excited and looking forward to joining the team at People’s Utah Bancorp,” said Williams. “ During my short tenure on the board I have developed deep respect and admiration for the associates and leadership who have successfully served the Utah and Southern Idaho communities for well over 100 years. It is an honor to have been selected to succeed Mr. Beard and follow the impressive succession of leadership this company has entrusted since its beginning.”