Redemption Holding Co. has completed its acquisition of Utah-based Holladay Bank & Trust, making it the first time a bank has been owned by a Black-led investment group in the Western U.S.
The newly formed Redemption Bank will be the first Black-owned bank in U.S. history not physically located within an economically vulnerable community, the first in the Rockies, and the only one located in the Black-banking desert that stretches from Houston to Los Angeles.
