OGDEN, Utah, September 16, 2021 – Locally owned and operated Bank of Utah has been named successor trustee to three of Utah’s most philanthropic foundations.

The Donnell B. Stewart – Elizabeth Dee Shaw Stewart Education Foundation, the Mary Elizabeth Dee Shaw Charitable Trust and the Donnell B. Stewart - Elizabeth Dee Shaw Stewart Foundation have transitioned their trust and investment portfolios to Bank of Utah.

“We’re very excited to serve as trustee to the Stewart and Shaw foundations,” said Bank of Utah President Douglas L. DeFries. “These charitable foundations have provided much-needed contributions to the Ogden area for several decades. They have helped fund numerous facilities, scholarships and programs that enrich the lives of area students and our community. As a community bank, we share their vision and look forward to helping them continue their philanthropic endeavors through our exceptional trust management services and in-person support.”

The transition came about as the foundations’ previous trustee transferred operations to another firm out of state. The boards felt it was in the best interest of the organizations to find a local trust and investment team that understood the needs of the local community and could provide the personal support they required.

“It is important to be able to have a trust advisement team that is personally available to meet with our board members and who understands our commitment to the community. We have found that with Bank of Utah,” said Stewart Education Foundation Chairman Richard Stromberg.

Bank of Utah is one of the few Utah-based banks that offers local trust services with trust professionals who live and work in Utah. Bank of Utah offers trust and investment management services for individuals, businesses or institutions needing professional administration and management of their assets with the bank as their fiduciary or agent. In addition to charitable trust and investment management, Bank of Utah also specializes in asset protection trusts, estates, conservatorships, self-directed individual retirement accounts (IRAs) and life insurance trusts.

The Donnell B. Stewart – Elizabeth Dee Shaw Stewart Education Foundation was established in 1977 by Elizabeth and Donnell Stewart. The foundation has been a longtime benefactor of several educational organizations including Weber State University.

The Mary Elizabeth Dee Shaw Charitable Trust was established in 1959 and is a primary benefactor to McKay-Dee Hospital and other charitable organizations.

The Donnell B. Stewart - Elizabeth Dee Shaw Stewart Foundation, founded in 1974, promotes education through financial support and scholarships.