Redemption Bank's historic Utah launch backed by former White House policy advisor, NFL and NBA stars

In June 2025, Redemption Holding Co. finalized a historic Utah acquisition, taking control of Holladay Bank & Trust and becoming the first Black-led investment group to own a bank in a Western U.S. state.

While the newly formed financial institution stands out because of its ownership, it also holds the distinction of being the first African-American-led bank in American history that is not physically located within an economically vulnerable community. Redemption Bank also stands only...