Written By Lexx Thornton 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. The bank, with roughly $65 million in assets, will focus primarily on doing commercial lending and creating a dedicated team for
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