Bank of Utah is headquartered in Ogden and is the 19th largest bank in the state of Utah. It is also the 535th largest bank in the nation. It was established in 1952 and as of December of 2020, it had grown to 365 employees at 19 locations. Bank of Utah has an A+ health rating.
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.
Overall | |
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FDIC Certificate # | 17159 |
Year Established | 1952 |
Employees | 365 |
Primary Regulator | FED |
Profit Margin | |
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Return on Assets - YTD | 1.91% |
Return on Equity - YTD | 15.15% |
Annual Interest Income | $65.7MM |
Assets and Liabilities | ||
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Assets | Q4 2020vs Q4 2019 | $1.87B$1.42B |
Loans | Q4 2020vs Q4 2019 | $1.29B$1.05B |
Deposits | Q4 2020vs Q4 2019 | $1.57B$1.16B |
Equity Capital | Q4 2020vs Q4 2019 | $221.2MM$193.2MM |
Loan Loss Allowance | Q4 2020vs Q4 2019 | $17.9MM$12.6MM |
Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $0$877.00K |
Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
1.00% | $100 | - | 30 Month IRA | |
0.75% | $100 | - | 18 Month IRA | |
0.50% | $100 | - | 6 Month IRA |