Bank of Utah

Overview / Commentary
2605 Washington Blvd
Ogden, UT 84401

Bank of Utah is headquartered in Ogden and is the 16th largest bank in the state of Utah. It is also the 493rd largest bank in the nation. It was established in 1952 and as of March of 2022, it had grown to 352 employees at 20 locations. Bank of Utah has an A+ health rating.

Reviews (1)

Solid products, but bad customer service

Posted by: |

I used this bank for about a year as there was a branch somewhat near me that made deposits convenience and easy to do on my way home from work. That being said, there were two main concerns I had. One was that customer service tended to be very young and not very knowledgeable; it's sad when the branch manager has to answer all your questions. My other issue is that they don't offer very competitive interest rates on their accounts; maybe it's because they are on the smaller side, but other institutions I've banked with at least gave you some return on your balance but these guys were nearly scant. Because of this, I ultimately changed banks as they just don't have a big enough network nor benefit to hold on to them.


Health Grade Components

FDIC Certificate #17159
Year Established1952
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.43%
Return on Equity - YTD12.94%
Annual Interest Income$17.6MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$2.24B$2.05B
LoansQ1 2022vs Q1 2021$1.50B$1.38B
DepositsQ1 2022vs Q1 2021$1.91B$1.75B
Equity CapitalQ1 2022vs Q1 2021$241.4MM$225.0MM
Loan Loss AllowanceQ1 2022vs Q1 2021$19.0MM$17.9MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$0$0
Real Estate OwnedQ1 2022vs Q1 2021$1.4MM$0

Rates for Bank of Utah are currently being reviewed.



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