Redemption Bank, which opened last September as the nation's newest Black-owned bank, has named Jan Allen Ackley as its first CEO.
The bank is the first Black-owned bank headquartered in the Mountain West.
Executive Chairman Ashley Bell has led the bank since its acquisition of Holladay Bank and Trust last year. Ackley assumes leadership as the bank expands commercial banking services, launches digital banking and introduces Bank King Card, a first-of-its-kind banking platform that expands economic opportunity while supporting mothers and children working to move from poverty to possibility.
Joining Redemption as chief credit officer in October 2025, Ackley has helped build the institution through the transition following the acquisition. As CEO, he will oversee the bank's commercial banking strategy, lending operations and continued national expansion.
"Building Redemption Bank required challenging assumptions about who could own a bank and what a bank could accomplish," Bell said. "The next era of banking will belong to institutions that combine disciplined commercial banking with innovation and an unwavering commitment to serving customers. Jan has spent nearly four decades helping businesses grow, managing risk and building lasting relationships. He is the right leader to guide Redemption into that future."
Ackley joined Redemption after serving as chief credit officer at Milestone Bank. He began his banking career at Comerica Bank and has spent nearly four decades in commercial banking and corporate finance. His experience spans mergers and acquisitions, asset-based lending, equipment finance, accounts receivable factoring and commercial real estate. Throughout his career, Ackley has worked with businesses in all 50 states, helping companies secure capital, strengthen cash flow and finance growth.
"Our responsibility is straightforward," Ackley said. "We earn customers' trust by making sound lending decisions, delivering exceptional banking services and helping businesses grow. That's how great banks are built, and that's how Redemption will continue creating opportunity for the customers and communities we serve."
Ackley is a 12-year veteran of the United States Air Force and Ohio Air National Guard, where he served as a training specialist in a communications squadron. He earned a bachelor's degree in business administration with concentrations in finance and economics from Ohio State University.
Ackley and his wife DeAnn have five children and eight grandchildren and reside in Salt Lake City.
