As the leading metro for business activity in Arizona, Phoenix is evolving rapidly. What began as a metro focused predominantly on real estate and construction has expanded to a robust technology, manufacturing and life sciences hub.
With a changing business landscape comes the need for new solutions, opportunities and partnerships. The State of Arizona provides relocation and business benefits, but Phoenix’s banking leaders supply the deep local expertise, capital and strategic partnership required for sustained success.
Seventy-six percent of business leaders view banks as important sources of advice, but only 22% actually use them as a trusted advisor for major financial decisions. That gap is a significant missed opportunity, especially when a well-connected local banker can pressure-test strategies and help navigate complex tradeoffs.
A Closer Look
For the past six years, Phoenix’s population has significantly increased, attracting businesses looking to expand or relocate from more expensive markets (operating costs in Greater Phoenix average up to 22% less than in California).
Additionally, the State of Arizona provides several benefits for companies, including a flat income tax, lower regulatory environment and strong tax credit opportunities. These include a Quality Jobs Tax Credit, the Qualified Facilities Refundable Tax Credit and no Business Inventory Tax.
The data supports Phoenix’s business-friendly claims. The Greater Phoenix Economic Council’s Economic Monitor shares that financial stress is limited, with the Q1 2026 Bank Loan Delinquency Rate at just 1.48%. Compared to Q1 2025, this rate decreased, signaling healthier loan performance and greater financial stability among businesses.
Phoenix is an appealing metro for businesses to establish and grow, but for sustained success, financial partnerships that go beyond basic services are critical.
What Do Businesses Need from Banks?
Whether large or small, banks provide essentially similar services. What sets them apart are their relationships and delivery models. Companies need a banker who:
• Understands their business — Bankers who truly understand their clients’ businesses and industries will be able to provide better solutions, advice and guidance.
Understanding a company means more than learning about what services or products it provides. It includes the company’s industry, leadership team, financial executives, current business strategy and goals.
• Provides tailored solutions — Understanding a company’s strategy and goals allows bankers to create tailored financial solutions. Without a holistic understanding of the business, it’s easy to repurpose standard solutions that other banks also provide.
Bankers not understanding their client also limits the business itself. The company’s growth could be limited by access to capital if the bank is not able to structure a credit facility that aligns with the company’s needs.
• Invests in relationships — The effort put into forming a relationship with a client is where the banker stands out. After all, banking is fundamentally about people, and bankers with genuine roots in the Phoenix market bring local context and connections that national institutions are rarely able to match.
A strong banking relationship allows each party to be transparent and trusting with one another. This is key when discussing money and high-stakes topics. This trust allows the banker and client to come together during times of growth and financial strain.
• Offers holistic support — Bankers should go beyond the traditional suite of banking services and pull in expert teams to support clients in specialized areas. This can include a professional and executive banking division, wealth management, insurance and foreign exchange services.
Bankers can and should provide more than deposits and lending.
Relationships Deliver Results
A banking partner who invests time and effort into client relationships ultimately delivers better results for the client.
For example, many executives choose to establish and grow new companies before selling them later. The challenge: securing an initial line of credit when the new entity has only been in business a short time.
When a relationship-focused banker takes the time to learn about a client, the banker might learn that the executives behind the early-stage company have been responsible for the growth and sale of multiple companies before that. What the banker initially thought was an approach by two new executives was actually two industry veterans beginning their next multimillion-dollar venture.
For middle-market companies in Phoenix, the bankers who look beyond the balance sheet — to local insight, genuine relationships and customized solutions — are the ones who make the difference.
Patrick Epum is Arizona market president at Valley Bank, where he leads commercial banking efforts across the Greater Phoenix market. He brings more than two decades of experience advising middle-market companies on complex financing needs, capital structures and growth strategies. His background spans commercial banking, capital markets and institutional finance.
Valley National Bank is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. With $64 billion in total assets, the bank operates many convenient branch locations and commercial banking offices across New Jersey, New York, Florida, Alabama, California, Illinois and Arizona.
