CONTRIBUTED CONTENT — State Bank of Southern Utah moved into its current Cedar City headquarters in December 1999. Since then, the bank has experienced significant growth in central and southwestern Utah, adding eight additional locations and expanding its total assets at $2.2 billion. Recently, the bank announced the construction of a new office in the Washington Fields neighborhood of St. George.
To accommodate the bank’s rapid growth, a second Cedar City office was built in 2016. As State Bank of Southern Utah continued to expand, employees were relocated and existing premises were refitted, but more space was needed to meet the needs of the bank’s growing customer base and staff.
Work has begun on a 20,000 square foot extension north of the existing headquarters in Cedar City. The new addition will add 50 offices and larger conference rooms for banking and community use. The former KB Oil building to the west of the bank has been purchased to provide additional parking.
“We are grateful for the continued support of our customers who have made this expansion necessary,” said State Bank of Southern Utah President Eric Schmutz. “The bank’s mission to improve the lives of our customers, employees and the communities we serve is as true today as it was when the bank was founded 65 years ago.”
“We are grateful to our neighboring businesses at Depot Plaza for their patience during construction. To mitigate inconvenience to their customers and employees, we encourage them to park in the new parking lot west of the bank during construction,” Schmutz added.
Completion is scheduled for fall 2023. Construction is being managed by Larry Pendleton Construction. The addition’s architect is Naylor Wentworth Lund. In addition to this project, a new office in Gunnison is scheduled to open in late 2022. The announced new location in Washington Fields is expected to be completed in fall 2023.
“The continued growth of the bank is further testament to the need for a true community bank who builds relationships, understands the community and makes local decisions,” Schmutz said.
State Bank of Southern Utah operates more locations than any other financial institution in the region and has thrived by focusing on the needs of its customers. The bank’s mission is to empower individuals and businesses to take control of their financial destinies, improving the quality of life for everyone in Southern Utah.
Serving the community since 1957, State Bank of Southern Utah is the only locally owned, operated, and based financial institution. The bank holds over $2.2 billion in assets and operates 16 branches in 14 cities and towns – Cedar City, Circleville, Delta, Escalante, Fillmore, Gunnison, Hurricane, Kanab, Orderville, Parowan, Richfield, Santa Clara, St. George and Tropic – with another location in the Washington Fields area in St. George coming soon.
For more information on the State Bank of Southern Utah, visit SBSU.com.
Written by ALEXA MORGAN for St. George News.
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