New Bank of Utah Mortgage Lending Office Hosts Green Ribbon Cutting

SOUTH JORDAN (Bank of Utah) – The South Jordan Chamber of Commerce will host a ribbon cutting for Bank of Utah’s new Mortgage Lending Office, at 893 W. Baxter Drive in South Jordan, on March 17, at 11:30 a.m. The grand opening event, from 11:30 a.m. to 7 p.m., will feature a St. Patrick’s Day theme with a big green ribbon for the ceremony along with green refreshments and decorations. The public is welcome to attend.

Earlier this year the Utah-based bank purchased assets and hired employees of Optimum Mortgage at that same location, creating a new Bank of Utah Mortgage Lending Office. It houses eight loan officers and three support staff, and will offer Bank of Utah’s full suite of mortgage lending services.

“We thought it would be fun and even lucky to host our grand opening on St. Patrick’s Day,” said Adam Catmull, owner of Optimum Mortgage, who is now serving as branch manager of the bank’s mortgage lending office.

2009 was a banner year for Bank of Utah in residential mortgage lending, with $309.7 million in total mortgage production from seven offices. This made up 40 percent of the bank’s net income for the year, and was 22 percent higher than the previous year. Bank of Utah is also one of the top producers of first-time home loans in the state.

“We’re thrilled to be a part of Bank of Utah’s mortgage lending team and we hope to carry on their tradition of success in South Jordan,” added Catmull. “Our new office will now provide a great variety of mortgage lending products including FHA, reverse, construction lending, and Utah housing loans. We’re proud to say that we do everything locally from start to finish including using our own capital for the loans, doing the underwriting and loan processing, and even making all the decisions locally. We think the South Jordan community will appreciate the fact that we have complete control of our transactions and can process loans much quicker, without last minute changes.”