TAB Bank has been named Best Community Bank by the Utah Best of State Awards for the second year in a row. TAB will be honored at the Best of State Gala on Friday, May 24, 2024, at the Salt Palace Grand Ballroom in Salt Lake City.
The Best of State Awards celebrates Utah’s outstanding individuals, businesses and organizations across various industries that excel in their endeavors, use innovative approaches or methods, and contribute to a better quality of life in Utah. Best of State judges selected TAB Bank for its community and social responsibility efforts and for providing financial solutions for businesses, families and individuals nationwide, uniquely designed to serve the needs of the underserved. The bank made great strides in 2023 through the following achievements:
- Offering an impressive 5.27% Annual Percentage Yield for its high-yield savings account, TAB Save—earning recognition from publications like Buy Side from Wall Street Journal, Nerd Wallet, Bankrate, Forbes and CNET.
- Doubling the size of TAB’s small business lending portfolio from March 2023 to March 2024.
- Surpassing last year’s revenue by 25%.
- Providing over $25 million in community development loans, investments and grants.
- Serving more than 2,000 community service hours.
- Raising over $505,000 for the Ogden Rescue Mission and helping to provide nearly 200,000 meals to individuals in the community who need assistance.
- Donating $122,348 to community organizations.
- Supporting more than 30 local foundations/non-profit organizations.
"We are incredibly honored to be named Utah's Best Community Bank for the second year in a row," said Austin Strong, CEO of TAB Bank. “This recognition is a testament to the hard work and dedication of our team and our unwavering commitment to serving the needs of our community. We are grateful for this acknowledgment and remain committed to our mission and vision—unlocking dreams with bold financial solutions that lift and empower.”
The back-to-back Best of State wins highlight TAB Bank’s focus on developing products and services that support its goal of creating access to financial success for everyone.