John Lund joined the Utah-based credit union as a courier in 1975 and was named CEO in 2012. His successor has spent more than three decades there.
Organizers of Bank of St. George still need to raise $18 million before opening.
The company, which plans to become Altabancorp, said the initiative removes brand confusion and puts its size and scale on display.
More details have surfaced about Interactive Brokers' planned bank. It would accept deposits and originate loans through an online channel only, its application says.
A group affiliated with Interactive Brokerage Group has filed an application with the FDIC to form Interactive Bank.
Utah this week became the third state to let companies test cutting-edge financial products without fear of violating licensing and other regulations.
The group behind Bank of St. George is looking to bring in up to $22 million in initial capital.
Michael Ward, a former CEO at Mrs. Fields Famous Brands, has been a Prime Alliance director for 14 years.
