Steve Sala Named President of TAB Bank

OGDEN, UT--(Marketwire - Aug 23, 2012) - TAB Bank is pleased to announce 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.

TAB Bank (@TABBank) provides custom working capital solutions to commercial businesses from many industries. These solutions are provided in all stages of business life cycles during any economic conditions. TAB Bank does this through Accounts Receivable Financing, Lines of Credit, Equipment Loans, Asset Based Loans, Business Accounts, and Commercial Banking Services.

"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."

Sala's background encompasses all aspects of finance including time spent as CFO and Board Director for Skaggs Companies, Inc., President of S Four Enterprises, Inc., 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 Bank, 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.

"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.