Bank of Utah restructures Corporate Trust Services and brings in well-known industry leaders

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Bank of Utah announced a recent restructuring of its Corporate Trust Services department with the appointment of two well-respected corporate trust attorneys

Bank of Utah announced a recent restructuring of its Corporate Trust Services department with the appointment of two well-respected corporate trust attorneys: Jon Croasmun, who will serve as vice president corporate trust manager and Michael R. Arsenault, who will be vice president corporate trust counsel.

“We are committed to the corporate trust business for the long-term, which is why we have brought in industry leaders such as Jon and Michael, to lead our department,” said Branden Hansen, Bank of Utah executive vice president and CFO. “Our organization has added some of the finest, most experienced trust services professionals in the industry, to provide the highest quality corporate trust services available anywhere.”

Jon Croasmun holds a Juris Doctorate from the University of Utah and a bachelor’s degree in business information system management from the BYU Marriott School of Management. He has served as a director at the law firm of Crowe and Dunlevy, specializing in representing banks, airlines and leasing companies in aviation legal work. Prior to that time, he served in leadership roles at Wells Fargo Bank Northwest including most recently as manager of business development to the Corporate Trust Lease Group. He is sought-after domestically and internationally to speak on corporate trust topics, and is a member of US Contact Group established by the Aviation Working Group. Croasmun teaches business law at University of Phoenix and is involved in the Boy Scouts of America and youth sports programs.

Michael R. Arsenault graduated cum laude with a Bachelor of Science in finance and economics from the University of Utah and went on to earn a Master of Business Administration and a Juris Doctorate from the University of Utah. He most recently worked in corporate trusts for Well Fargo Bank Northwest, where he provided guidance on federal and state regulatory corporate trust services appointments including owner/security/indenture trustee, escrow agent, paying agent, calculation agent and collateral agent. Previous to that position, Arsenault provided legal advice and counsel for Sundance Corporation and ATK Thiokol. He is fluent in Spanish and holds bar admissions in Utah and Nevada.

“We are so pleased to bring in these two outstanding experts who will provide a very high level of experience and aircraft trust intellectual abilities to our customers,” said Bank of Utah President Douglas L. DeFries. “With this recent infusion of talent and our continued offering of full-service corporate trust products, we will remain a dominant force in the markets we serve, well into the future.”

Bank of Utah Corporate Trust Services has assembled an expert team of in-house counsel and account management professionals with more than 75 years of combined experience in all aspects of corporate trust service. Because of the team’s deep knowledge and expertise, Bank of Utah Corporate Trust Services provides services to clients worldwide. The bank corporate trust department specializes in aircraft trusts and life settlements along with owner trust, indenture trust, security trust, voting trust, collateral agent, paying and fiscal agent, custodian and escrow agent services. Bank of Utah Corporate Trust Services also has extensive experience acting as a fiduciary for both equity and debt and is MARAD approved as a maritime trustee.

For more information please contact Jon Croasmun at 801-924-3676, or Michael Arsenault at 801-924-3675,

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About Bank of Utah
Bank of Utah, in business for 63 years, was founded and organized by Frank M. Browning, an Ogden business executive. The bank officially opened for business on December 1, 1952 with 16 employees, and has grown to over 300 employees and $850 million in assets. The bank currently has 13 full-service branches along the Wasatch Front, mortgage offices in St. George, South Towne, Price, Logan and Sandy, and corporate trust teams in Ogden and Salt Lake City. Bank of Utah offers personal banking, business banking, home lending, trust management and investment services. For more information call 1-800-516-5559 or visit

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Rhonda Greenwood
Love Communications
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