Altabancorp operates as the bank holding company for Altabank, a state-chartered bank that provides retail and commercial banking products and services. The company accepts checking, rewards checking, savings, and money market deposit accounts, as well as individual retirement accounts and certificates of deposit. It also offers commercial real estate, residential mortgage, commercial and industrial, home equity and improvement, automobile, debt consolidation, general consumer, and small business association loans, as well as construction, acquisition, and development loans; and credit and debit cards. In addition, the company provides investment securities, such as the U.S. Agency issues, mortgage-backed securities, and municipal bonds; and online and mobile banking, automatic teller machine, treasury management, remote deposit capture, bill pay, cashier's check, money order, and safe deposit services. It serves real estate developers and contractors, small to medium sized businesses, individuals, and professionals and professional firms through 25 retail branches located in Utah, Salt Lake, Davis, Cache, Box Elder, and Washington Counties in Utah and in Preston, Idaho. The company was formerly known as People's Utah Bancorp and changed its name to Altabancorp in July 2020. Altabancorp was founded in 1905 and is headquartered in American Fork, Utah.
IPO Year: 2015
Exchange: NASDAQ
Website: altabancorp.com
8-K - Altabancorp (0001636286) (Filer)
8-K - Altabancorp (0001636286) (Filer)
8-K - Altabancorp (0001636286) (Filer)
8-K - Altabancorp (0001636286) (Filer)
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KALISPELL, Mont. and AMERICAN FORK, Utah, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Glacier Bancorp, Inc. ("Glacier" or the "Company") (NASDAQ:GBCI) today announced the completion of its acquisition of AltabancorpTM ("ALTA") (NASDAQ:ALTA), the bank holding company for AltabankTM, 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, Utah, and will operate as the newest banking division of Glacier Bank under the name "Altabank, Division of Glacier Bank". Randy Chesler, Glacier's President and Chief Executive Officer, commented, "We are excited to welcome Alta
Q2-2021 Highlights Loans held for investment grew $76.7 million, or 17.1% on an annualized basis, for the second quarter and $178 million, or 21.2% on an annualized basis, for six months of 2021 to $1.87 billion. Total deposits declined $2.3 million for the second quarter but grew $240 million for six months of 2021 to $3.16 billion. Cash and liquid investment securities declined $57.0 million for the second quarter, or 14.2% on an annualized basis, to $1.56 billion, or 44% of total assets, at June 30, 2021. Return on average assets was 1.44% and return on average equity was 14.12% for the three months ended June 30, 2021. Altabancorp™ (NASDAQ:ALTA) (the "Company" or "ALTA"), the
AltabancorpTM (NASDAQ:ALTA) announced that it will report its second quarter 2021 financial results on Wednesday, July 28, 2021 after the market closes. The Company's second quarter 2021 earnings release will be available on the Company's website at www.altabancorp.com. About AltabancorpTM AltabancorpTM (NASDAQ:ALTA) is the bank holding company for AltabankTM, a full-service bank, providing loans, deposit and cash management services to businesses and individuals through 25 branch locations from Preston, Idaho to St. George, Utah. AltabankTM is the largest community bank in Utah with total assets over $3.5 billion. Our clients have direct access to bankers and decision-makers, who work wi
AltabancorpTM (NASDAQ:ALTA) (the "Company" or "Alta") announced today the signing of a definitive agreement with Glacier Bancorp, Inc. ("Glacier" or the "Company") (NASDAQ:GBCI) to acquire Alta, the bank holding company for AltabankTM, a community bank headquartered in American Fork, Utah. The acquisition marks Glacier's 24th announced acquisition since 2000 and its 7th announced transaction in the past five years. This also marks Glacier's second acquisition of a Utah-based bank in the last two years, completing the acquisition of First Community Bank based in Layton, Utah in 2019. Altabank provides banking services to individuals and businesses throughout Utah and southern Idaho with 25 b
KALISPELL, Mont., May 18, 2021 (GLOBE NEWSWIRE) -- Glacier Bancorp, Inc. ("Glacier" or the "Company") (NASDAQ:GBCI) today announced the signing of a definitive agreement to acquire Altabancorp ("ALTA") (NASDAQ:ALTA), the bank holding company for Altabank, a community bank headquartered in American Fork, Utah. The acquisition marks Glacier's 24th announced acquisition since 2000 and its 7th announced transaction in the past five years. This also marks Glacier's second acquisition of a Utah-based bank in the last two years, completing the acquisition of First Community Bank based in Layton, Utah in 2019. Altabank provides banking services to individuals and businesses throughout Utah and sou
Q1-2021 Highlights Total assets grew $1.04 billion, or 42%, year-over-year to $3.52 billion at March 31, 2021. Total deposits grew $1.04 billion, or 49%, year-over-year to $3.16 billion at March 31, 2021. Loans grew $154 million, or 9.4%, to $1.80 billion at March 31, 2021 from the prior year. Cash and liquid investment securities grew $877 million, or 119%, to $1.61 billion, or 46% of total assets, at March 31, 2021. Return on average assets was 1.13% and return on average equity was 10.30% for the three months ended March 31, 2021. Altabancorp™ (NASDAQ:ALTA) (the "Company" or "Alta"), the parent company of Altabank™, reported net income of $9.4 million for the first quarter o
AMERICAN FORK, Utah--(BUSINESS WIRE)--Altabancorp™ (Nasdaq: ALTA) announced that it will report its first quarter 2021 financial results on Wednesday, April 28, 2021 after the market closes. Management will host a conference call on Thursday, April 29, 2021 at 10:00 a.m. MDT (12:00 p.m. EDT) to discuss the Company’s financial performance. The Company’s first quarter 2021 earnings release and investor presentation will be available prior to the call on the Company’s website at www.altabancorp.com. An audio archive and written transcript of the conference call will be available on the Company’s website within 24 hours after the end of the call. Forward-looking statements may be made
AMERICAN FORK, Utah--(BUSINESS WIRE)--Altabancorp™ (Nasdaq: ALTA) (the “Company” or “ALTA”), the parent company of Altabank™, issued the following statement in response to the proxy materials filed by the designated representatives of the Section 13D group consisting of various Gunther family members and their entities (“Gunther Family 13D Group”) on March 15, 2021. “Our Board of Directors and executive management team believe in enhancing value for all of our stakeholders, including associates, clients, communities, regulators, and shareholders. Importantly, we respect the views of all of our investors, including the Gunther Family, and expect constructive input from them that w
AMERICAN FORK, Utah--(BUSINESS WIRE)--AltabancorpTM (Nasdaq: ALTA) (the “Company” or “Alta”), the parent company of AltabankTM, reported net income of $11.1 million for the fourth quarter of 2020, compared with $11.3 million for the third quarter of 2020, and $11.7 million for the fourth quarter of 2019. Diluted earnings per common share were $0.58 for the fourth quarter of 2020, compared with $0.60 for the third quarter of 2020, and $0.61 for the fourth quarter of 2019. For the twelve months ended December 31, 2020 net income was $43.5 million, or $2.29 per diluted common share, compared with $44.3 million, or $2.33 per diluted common share, for the same period a year earlier. Ann
AMERICAN FORK, Utah--(BUSINESS WIRE)--Altabancorp™ (Nasdaq: ALTA) (the “Company” or “Alta”), the parent company of Altabank™, confirmed that its Board of Directors has received a letter (“Letter”) from the designated representatives of the Section 13D group consisting of various Gunther family members and their related entities (“Gunther Family 13D Group”) that was filed as part of the Amendment No. 2 to Schedule 13D on January 14, 2021. “Our Board takes its fiduciary responsibilities seriously and always welcomes the opportunity to hear from our shareholders and to consider ideas that may drive shareholder value creation,” said Richard Beard, Chair of the Company. “The Board will
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Raymond James downgraded Altabancorp from Outperform to Market Perform
Piper Sandler downgraded Altabancorp from Overweight to Neutral and set a new price target of $49.00 from $46.00 previously
Raymond James reiterated coverage of Altabancorp with a rating of Outperform and set a new price target of $46.00 from $35.00 previously
Raymond James reiterated coverage of Altabancorp with a rating of Outperform and set a new price target of $35.00 from $24.00 previously
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Q2-2021 Highlights Loans held for investment grew $76.7 million, or 17.1% on an annualized basis, for the second quarter and $178 million, or 21.2% on an annualized basis, for six months of 2021 to $1.87 billion. Total deposits declined $2.3 million for the second quarter but grew $240 million for six months of 2021 to $3.16 billion. Cash and liquid investment securities declined $57.0 million for the second quarter, or 14.2% on an annualized basis, to $1.56 billion, or 44% of total assets, at June 30, 2021. Return on average assets was 1.44% and return on average equity was 14.12% for the three months ended June 30, 2021. Altabancorp™ (NASDAQ:ALTA) (the "Company" or "ALTA"), the
AMERICAN FORK, Utah--(BUSINESS WIRE)--Altabancorp™ (Nasdaq: ALTA) (the “Company” or “Alta”), the parent company of Altabank™, confirmed that its Board of Directors has received a letter (“Letter”) from the designated representatives of the Section 13D group consisting of various Gunther family members and their related entities (“Gunther Family 13D Group”) that was filed as part of the Amendment No. 2 to Schedule 13D on January 14, 2021. “Our Board takes its fiduciary responsibilities seriously and always welcomes the opportunity to hear from our shareholders and to consider ideas that may drive shareholder value creation,” said Richard Beard, Chair of the Company. “The Board will
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