Hillcrest Bank Enters Utah Market

$1 million CAPEX

20 jobs

4,000 square feet

Project Common Sense

February 27, 2019

The Economic Development Corporation (EDCUtah) and the Governor’s Office of Economic Development (GOED) are excited to announce that Hillcrest Bank, a division of NBH Bank, announced its expansion into Utah, with a focus on serving commercial and business banking clients in the Wasatch Front.

NBH Bank, a wholly-owned subsidiary of National Bank Holdings Corporation (publicly traded on NYSE: NBHC), operates a network of 104 banking centers, serving individual consumers, small, medium and large businesses, and government and non-profit entities. NBH Bank operates under the following brand names: Bank Midwest in Kansas and Missouri, Community Banks of Colorado in Colorado, and Hillcrest Bank in Texas, New Mexico and Utah.

In making the announcement, Tim Laney, Chairman, President and CEO of National Bank Holdings Corporation, parent of Hillcrest Bank, said, "We are very excited to expand our commercial and business banking footprint into Utah, one of our Country's most diversified and progressive labor markets.”

Chet Samuelson will serve a Hillcrest Bank's Market President in Utah. As the Bank's market leader, he and his team will offer a full range of business and commercial banking services.

Samuelson is a Utah resident with two decades of professional banking experience, including with Bank One, J.P. Morgan Chase, and Wells Fargo. Samuelson received his Bachelor of Science and MBA from WeberState University.

“Utah’s vibrant financial services sector has become larger and more diverse,” said Val Hale, executive director of GOED. “We welcome Hillcrest Bank to Utah and look forward to their future expansion in commerce and employment.”

EDCUtah and GOED first connected with NBH in October 2018, when a contact at a separate EDCUtah project introduced EDCUtah’s Erin Farr to NBH. The introduction led to two Utah site visits with top NBH executives. The site visits prompted NBH to add both a commercial and a consumer branch to the expansion plan.

“Chet Samuelson is a community leader who understands economic development from his tenure on the boards of the World Trade Center Utah, MountainWest Capital Network, Utah Microenterprise Fund, and the Utah Valley Chamber of Commerce,” said Theresa A. Foxley, president and CEO of EDCUtah. “He knows the strengths, challenges and potential of the Utah market.”

Hillcrest plans to start with 20 jobs in the next year with branch locations in the Bountiful area.

Erin Farr, Senior Business Development Manager, managed this project for EDCUtah.

For more information on this or other projects, contact Colby Cooley, at 801-323-4250,

Investors: If you were involved in this project and would like to add your organization to this announcement, please email



Erin Farr

Vice President of Business Development