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Altabanking episode 39 with Stout Building Contractors

Dec. 4, 2020

Altabanking Interview KSL Radio Transcript: Stout Building Contractors

Segment Title: Altabanking, Rapid Growth

GRANT: Welcome to Altabanking. Weekly business talk geared toward elevating your financial future. James Stout is the founder and CEO at Stout Building Contractors. James, while the Stout story began here in here in Utah, the company has quickly grown to having a presence in more than 20 states. Share with us how you got started and how you’ve grown so quickly over the years.

JAMES: Stout was started in 2007 with an initial segway into concrete tilt-up construction of industrial buildings here in Utah. We made a critical pivot in 2008 in response to the economic crash, turning our focus on national retailers, we stayed on track with their expansion plans during this crash. This quickly pulled us out of state resulting in us today being licensed and active in 22 States. In essence, we built our company during the great recession, and when the recession lifted, we were poised for massive growth.

GRANT: Tell us a bit about your experience working with banks and how they have helped achieve your business’ goals.

JAMES: We have built Stout without bringing in any outside financial partners.  Banks have been our partners. Our relationship with our banker has always been a top priority to us. We’ve landed at Altabank because of their same belief in having this relationship. And our experience has been different. They are genuine and willing to take time to help us be successful.

GRANT: What advice would you give a business that was in a similar position as yours and is looking to change banks?

JAMES: The most important thing to me is finding a bank that has people who are genuinely interested in you and your company. The second would be that these people are then able to actually help you. If the bank has too many restrictions put in place and those you work with have no latitude, as much as they would like to help, they won’t be able to do so.

GRANT: James, thank you so much. Good talking with you. This has been Altabanking. Brought to you by Altabank. Member FDIC.