On January 15, 2021, Paul R. Gunther delivered to the Board of Directors of Altabancorp his letter of resignation (the “Resignation Letter”) as a director of the Company, effective as of 5:00 p.m. MT on January 15, 2021. Mr. Gunther served as a member of the Board’s Audit and Compliance Committee and the Board’s Compensation and Management Development Committee. Mr. Gunther is a member of the Section 13D group consisting of various Gunther family members and their related entities. According to the Resignation Letter, Mr. Gunther’s resignation appears to be due to disagreement with the Board regarding the strategic direction of the Company.