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Overview / Commentary
6985 Union Park Suite 150
Cottonwood Heights, UT 84047

Proficio Bank is headquartered in Cottonwood Heigh and is the 36th largest bank in the state of Utah. It is also the 3,313st largest bank in the nation. It was established in 2000 and as of March of 2014, it had grown to 646 employees at 1 location. Proficio Bank has a C+ health rating.

Reviews (7)

*Do Not Use*

I would definitely NOT recommend using Proficio Bank/Community First Bank of Schaumburg to get a home loan.  Our main contact was Vito and we were not satisfied with the service we received.  In the beginning, he was very quick to respond to our questions/concerns but when we really needed him – right before closing, it was impossible to get answers or to reach him.  We didn't find out we were approved until two days before closing.  They asked us for the application documents several times and didn't appear organized.  While we were sitting at our closing, Proficio decided that they weren’t going to approve our $2,000 towards closing costs.  They even asked our realtor for advice on how they could make it work.  They seemed like they didn’t know what they were doing and waited to the very last minute.  We are lucky we closed on time.

Wonderful Service

I must say I had wonderful service from this company.they were in contact with me every couple days iinforming of the status of my loan.very friendly and everything they promised to me was exactly correct when the notary came to my home to sign the closing documents! I have refinanced 3 times in the last 7 years and I must say this bank was by far the best!!

Proficio Has Poor Customer Service

My husband talked with one loan officer and she was really nice to him. She called me to get financial information from me to give me a quote. I told her that I never heard of Proficio and that I wanted more information. She did not like that answer and started being rude to me. Telling me that I was going about this all wrong. I told her that we were not interested in this company. Then today I received a call from another loan officer and he told me that  I was rude and told me he did not care if I became a customer at the end of our conversation. Never in my life have I had people treat me with such disrespect and tell me that they did not want me as a customer. I decided that I would go with another company that had better customer service. I would not recommend this company to anyone.  I have never had a person call me and then tell me they wanted to educate me about mortages and that they did not care if I became a customer.  Customer service should be number one with a company and there no one should ever be told that they are not wanted as a customer. 

Great Reverse Mortgage Team!

We had a wonderful experiance with Proficio and their staff, keep up the great work!

Great Lender

I wish all lenders provided the kind of service this one has provided me. The agent i worked with in closing my reverse got it done for me smoothly without any head aches or problems.

Very Shaddy

We responded to Proficio's refinance offer, but they wanted a credit card number prior to determining whether we would be approved. Such a request has never been made in our previous real estate transactions. When we declined to give a credit card number, for some reason we did not "qualify" for the program. uummmmm, very, very, shady.

Highly Recommend- We Had An Excellent Mortgage Experience With Proficio

Highly Recommend Proficio. From pre-qualification through application to closing. Our loan officer was with us every step of the way. When we ran into challenges, they were right people to get our questions answered.

Our closing was on time and our real estate agent complemented them on their consistent follow-up, making sure to keep everyone in the loop. We don't plan on buying another house soon, but we will recommend Proficio to all of our Friends and Family.

Jan and Robert Turner

Naples, Fl


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Proficio Bank had $11.14 million in non-current loans and owned real-estate with $24.98 million in equity and loan loss allowances on hand to cover it. This gives Proficio Bank a Texas Ratio of 44.57% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Proficio Bank decreased slightly from 54.19% as of March 31, 2013 to 44.57% as of March 31, 2014, resulting in a positive change of 17.75%.This indicates that the balance sheet and financial strength for Proficio Bank has improved slightly in recent periods.

Deposit Growth


In the past year, Proficio Bank has decreased its total deposits by -$34.17 million, resulting in -19.94% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Proficio Bank has shown is poor.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Proficio Bank has $176.7 million in assets with $24.98 million in equity, resulting in a capitalization level of 14.14%, which is excellent.

Institution Statistics

FDIC Certificate #35495
Year Established2000
Primary RegulatorFDIC
Assets and Liabilities
Assets$176.70 million
Loans$118.54 million
Deposits$137.18 million
Equity Capital$23.58 million
Loan Loss Allowance$1.40 million
Unbacked Noncurrent Loans$2.69 million
Real Estate Owned$8.45 million
Historic Data - March 2013
Assets$206.27 million
Equity Capital$26.09 million
Loan Loss Allowance$2.31 million
Unbacked Noncurrent Loans$2.69 million
Real Estate Owned$9.63 million
Profit Margin - Quarterly
Return on Assets-4.76%
Return on Equity-33.69%
Interest Income$1.39 million

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Proficio Bank Locations
Proficio Bank6985 Union Park Suite 150Cottonwood Heights, UT 84047