A slate of baby boomers has replaced the octogenarian directors who founded and ran Salt Lake City's Draper Bancorp for more than 30 years.

Twenty investors acquired a 60% stake in the bank from directors and the founder and president K. Vincent Bluth, who sold his entire stake. The stock purchase was valued at $24 million.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.