Daily News: August 23, 2012

TAB Bank Appoints Sala as President

TAB Bank said it has appointed Steve Sala as president. Sala has been a member of TAB’s board of directors for approximately 18 months and brings to the position a wealth of experience and expertise in the banking and finance industries.

Sala’s background encompasses all aspects of finance including time spent as CFO and board director for Skaggs Companies, president of S Four Enterprises and CFO for Santa Fe Partners. His experience also includes a long banking career with the likes of JP Morgan Chase, Wells Fargo and First Interstate Bank. During his tenure at First Interstate, he oversaw numerous divisions in Utah and California.

He founded the consulting firm, SFE Advisors, where he has managed the problem assets and commercial lending groups of multiple institutions whose assets exceed $6 billion. Most recently, he has served as the CLO and CEO for an Oregon and an Arizona financial institution responsible for the workout and restructure of their commercial loan portfolios. He is a past board member with the Utah Bankers Association and has been actively involved with numerous charitable organizations.

“We are very excited with the appointment of Steve as the new President of TAB Bank,” stated Chuck Maggelet, chairman of the board of directors for TAB Bank. “He will provide steady and consistent leadership as we continually steer TAB Bank in a positive direction. We have established ourselves as a leader and an innovator in providing customized financial solutions for our clients. Steve and I have discussed at length what we need to do to continually strengthen this position and to achieve our goals and objectives. I am confident in his ability to keep us moving in a positive direction.”

“TAB Bank is a great organization. We boast an exceptional team of commercial finance and banking professionals. I am impressed with their level of commitment and dedication as they work each day to provide outstanding service, support, and solutions to our many clients, prospective clients, and partners. I am thrilled to stand next to them as we look forward to what the future holds,” commented Sala.