Quarterly Newsletter for Q3
A Message from Our Chief Lending Officer
Famed author Alice Walker penned the phrase, “Time moves slowly, but passes quickly.” As we continue to deal with challenges stemming from the COVID-19 pandemic, it may feel like the year 2020 will be with us forever. Yet here we are in the twilight of 2021, preparing for 2022 which is right around the corner.
Early fall is a great time for companies to contemplate their strategic initiatives for the coming year. It is an ideal time to evaluate 2021 goals and measure performance relative to expectations. This process will also inform your 2022 plan and what your company will need to focus on to achieve your future goals.
Is your company growing? Does your equipment or real estate need to be updated or replaced? Is your client base growing or changing? Are you using new vendors or suppliers? Do you need to improve reporting? Would you like to collect money from clients more quickly? Are manufacturing delays or other supply chain issues impacting your company? Is your company planning on selling?
If the answer to any of these questions is yes, your company may need new banking products and access to additional capital. Additional capital can come from profit, debt or investors. Involving your banker in your 2022 planning and budgeting conversations can help your company address these capital needs early on. Your banker can help structure a sustainable debt plan that aligns with your goals.
In addition to helping with lending products, your banker can help you improve reporting and decrease the cash conversion cycle with cash management products designed to increase the speed and transparency of your business.
We encourage all of our clients to engage in a deliberate planning process for future time periods and involve their bankers in these conversations.
EVP/Chief Lending Officer
EVP/Chief Lending Officer
Altabank will soon implement a new quick and easy process for applying for non-SBA small business loans, Altaexpress. Altaexpress will include an on-line customer portal that will allow a customer to initiate and track applications for non-SBA small business loans. Products will include lines of credit, amortizing term loans, and owner-occupied commercial real estate loans.
Reach Out And Read (ROAR)
Altabank is pleased to be a part of Intermountain Healthcare Primary Children’s Hospital Reach Out And Read (ROAR) program. We will be hosting an online book drive from November 19 – December 20, 2021. Watch for more information on our social media sites.
Altabank Merged with Glacier Bank
We are pleased to announce that, effective October 1, 2021, Altabank merged with Glacier Bank. Glacier Bank is one of the most admired regional banks in the country. With a focus on exceptional client service and strong core values, Glacier will increase its Utah market presence, with Utah becoming the second largest region in Glacier’s Rocky Mountain footprint.
All of us at Altabank remain committed to providing you with the service you have come to expect. During the first quarter of 2022 we will send you information about any changes in systems and products, and what you need to do to take advantage of them. Until then, please feel free to contact your banker or local branch with any questions.
We thank you for allowing us to meet your banking needs.