Corporate Profile
MagnetBank is an independently owned and operated Utah commercial bank focused exclusively on lending. We provide loans for a wide variety of business uses via strategically located loan production offices, utilizing brokered deposits as a primary funding source.
MagnetBank has loan production offices in Atlanta, Raleigh and Salt Lake City.
ADDITIONAL INFORMATION
History
2006 Audited Financial Statements
Community Reinvestment Act (CRA) Strategic Plan
Executive Management
Christopher E. Worel, President and CEO
Lindsay C. Jones, CFO
Our Investors
In September 2005, MagnetBank completed a $48 million private equity placement. More than 70 percent of the $48 million raised came from our founders, employees, friends and family. This included $3.3 million raised in an initial private placement in late 2004 which was used to fund organizational, pre-opening and other expenses related to filing regulatory applications. Stone Point Capital, a Connecticut-based private equity firm that serves as the investment manager of the $3 billion Trident Funds, and Northaven Management, Inc., a New York-based firm that manages $450 million of investments in the financial services industry, each contributed $4.7 million. The balance was made up of smaller institutional investors.
Corporate Headquarters
2825 E. Cottonwood Parkway
Suite 180
Salt Lake City, UT 84121
(801) 733-2626
Investor Information Contact
Manda Hunt
Director of Investor Relations and Marketing
5607 Glenridge Dr.
Suite 250
Atlanta, GA 30342
(404) 260-0945
