Item 5.02  Departure of Directors or Certain Officers; Election of Directors;
           Appointment of Certain Officers; Compensatory Arrangements of Certain
           Officers.

(a)On January 15, 2021, Paul R. Gunther delivered to the Board of Directors (the "Board") of Altabancorp (the "Company") 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. A copy of the Resignation Letter is attached hereto as Exhibit 99.1 and is incorporated herein by reference. 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. Mr. Gunther indicated in the Resignation Letter that he "believe[s] the board and my family are on divergent paths concerning the future of the organization," that "the board's recent tenor toward my family and disregard for its concerns reflects a substantial departure from my family's goals as I understand them" and that "my support for my family's objectives precludes my continued service on the board of directors."

The Company has provided a copy of the disclosures contained in this Current Report on Form 8-K to Mr. Gunther and provided Mr. Gunther with the opportunity to furnish to the Company as promptly as possible a letter addressed to the Company stating whether he agrees with the statements made by the Company in this Current Report on Form 8-K. If the Company timely receives such a response letter, it will file it as an exhibit by amendment to this Current Report on Form 8-K.

Item 9.01Financial Statements and Exhibits.







(d) Exhibits



Exhibit Number   Description
99.1               Resignation Letter of Paul R. Gunther dated
                 January 15, 2021

104              Cover Page Interactive Data File (embedded within
                 the Inline XBRL document)




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