Centennial Bank became Utah's third start-up bank in the last 12 months when it opened its doors April 8.

It is the first bank to open in the state this year, and the first new bank in 21 years for Ogden, Utah's third-largest city.

Centennial, which raised $4.3 million in capital, had been organizing since November.

Its president, Michael R. Garrett, was president and chief executive officer of Utah Federal Savings Bank in Ogden, acquired in November by Washington Mutual Inc., Seattle. That deal prompted the founding of Centennial Bank, according to state regulators.

Mr. Garrett was president of Citizens Bank in Ogden from 1977 until 1985, when it was bought by Commercial Security Bank. KeyCorp bought Commercial Security in 1987, and Mr. Garrett went to work for an Ogden credit union until 1992, when he joined Utah Federal.

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