New Salt Lake City black-owned bank honors founding investors

On its path to creating a first-of-its-kind hub for black investment in the Rockies, Redemption Holding Co. honored its investors at a recent reception in Salt Lake City.

Gathering at the Zions Bank building in downtown Salt Lake City, the company highlighted its plan, announced in February, to purchase Holladay Bank & Trust, marking the first time in U.S. history for an exiting commercial bank to become a black-owned minority depository institution (MDI) through an acquisition.

RHC said the new MDI “will deliver families and Please log in to see the rest of this story.