State Bank of Southern Utah expands Cedar City headquarters to accommodate growth

CONTRIBUTED CONTENT — State Bank of Southern Utah moved into its current Cedar City headquarters in December 1999. The bank has enjoyed significant growth throughout central and southwestern Utah since then, adding eight more locations and growing its total assets to $2.2 billion. Recently, the bank announced a new office to be constructed in the Washington Fields area of St. George.

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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 locations were remodeled, 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 expansion north of the existing corporate office in Cedar City.  The new addition will add 50 offices and larger conference rooms for bank and community use. The old KB Oil building west of the bank was purchased to provide additional parking.

“We are grateful for the continued support of our customers that made this expansion necessary,” State Bank of Southern Utah president Eric Schmutz said. “The mission of the bank 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 in the Depot Plaza for their patience during the construction. To lessen the inconvenience of 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 the fall of 2023. Construction is being managed by Larry Pendleton Construction. The architect for the addition is Naylor Wentworth Lund. In addition to this project, a new office in Gunnison is scheduled to open at the end of 2022. The newly announced location in Washington Fields is scheduled for completion in the fall of 2023.

The continued growth of the bank is another testament to the need for a true community bank that 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 area and has flourished by focusing on the needs of its customers. The bank’s mission is to empower individuals and businesses to take control of their financial destiny, therefore elevating 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 headquartered financial institution. The bank holds more than $2.2 billion in assets and operates 16 branches across 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 of St. George coming soon.

For more information about State Bank of Southern Utah, visit SBSU.com.

Written by ALEXA MORGAN for St. George News.

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