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This is Fred Ball for Zions Bank, speaking on business.
Utah has become a global financial center and is home to some of the best managed community banks in the country. As a result, Utah has more deposits than all but seven other states. This year one of Utah's oldest organizations for financial institutions is celebrating its centennial: the Utah Banker's Association.
The world of banking has changed quite a bit since 1908 when the Utah Banker's Association held its first convention. The UBA was initially formed as a way for bankers to address certain industry-wide issues, especially those involving banking laws. Eventually, the UBA hired a full-time employee to serve as a secretary. The secretary position evolved to become an executive director and later a president. Today, the UBA has five full-time employees.
The UBA has become a way for bankers from many organizations to address common issues in a non-competitive environment. UBA president Howard Headlee says despite the stricter regulations banks must now follow, it's amazing how similar the issues they face are to those from bygone days.
Howard says banks work together in areas of security and the public good. The underlying foundation of the UBA is to promote public trust and confidence for times when clients need access to resources and assets, and without cooperation, banks couldn't do that.
The theme for the UBA's centennial is, "Utah banks at the heart of our community." Each year Utah banks donate millions of dollars to for housing, culture and the arts, healthcare and a variety of vital services to support all Utahns. This year the UBA has already held a hall of fame luncheon where they honored bankers from generations past who have laid the foundation for what the industry is today. In June, the UBA's annual convention will focus on a "Century of Service."
For Zions Bank, I'm Fred Ball. I'm speaking on business.
