Bank of Utah

Overview / Commentary

www.bankofutah.com

801-409-5000

2605 Washington Blvd
Ogden, UT 84401

Bank of Utah is headquartered in Ogden and is the 19^th largest bank in the state of Utah. It is also the 557^th largest bank in the nation. It was established in 1952 and as of September of 2020, it had grown to 363 employees at 19 locations. Bank of Utah has an A+ health rating.

Reviews (1)

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Solid products, but bad customer service

Posted by: Caudgent | Dec 15, 2017

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.

Comment

Health

A+

Data as of Q3 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	17159
Year Established	1952
Employees	363
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	1.8%
Return on Equity - YTD	14.03%
Annual Interest Income	$47.7MM

Assets and Liabilities
Assets	Q3 2020vs Q3 2019	$1.78B$1.44B
Loans	Q3 2020vs Q3 2019	$1.37B$1.06B
Deposits	Q3 2020vs Q3 2019	$1.47B$1.18B
Equity Capital	Q3 2020vs Q3 2019	$212.9MM$187.0MM
Loan Loss Allowance	Q3 2020vs Q3 2019	$17.7MM$12.5MM
Unbacked Noncurrent Loans	Q3 2020vs Q3 2019	$0$13.00K
Real Estate Owned	Q3 2020vs Q3 2019	$0$5.0MM

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Bank of Utah Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.32%^*	$1k^*	-	Health Savings Account (HSA)
OTHER TIERS: 0.17% → $500 - $1k
0.20%^*	$250k^*	-	iSave Account
OTHER TIERS: 0.05% → $500 - $1k \| 0.07% → $1k - $50k \| 0.12% → $50k - $100k \| 0.15% → $100k - $250k
0.10%	$1	-	Business Regular Savings
0.10%^*	$100k^*	-	Sweep Repurchase Account
OTHER TIERS: 0.03% → $1 - $50k \| 0.05% → $50k - $100k
0.05%	$1	-	Regular Savings
0.05%	$1	-	Regular Savings for Children

Bank of Utah Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.20%^*	$250k^*	-	Premier Gold Money Market Savings
OTHER TIERS: 0.05% → $1 - $20k \| 0.10% → $20k - $50k \| 0.12% → $50k - $100k \| 0.15% → $100k - $250k
0.20%^*	$250k^*	-	Business Premier Gold Money Market Savings
OTHER TIERS: 0.05% → $1 - $20k \| 0.10% → $20k - $50k \| 0.12% → $50k - $100k \| 0.15% → $100k - $250k
0.20%	$1	-	Business Money Market Sweep
0.15%^*	$250k^*	-	Insured Money Market Savings
OTHER TIERS: 0.05% → $1 - $20k \| 0.07% → $20k - $50k \| 0.10% → $50k - $100k \| 0.12% → $100k - $250k
0.15%^*	$250k^*	-	Business Insured Money Market Savings
OTHER TIERS: 0.05% → $1 - $20k \| 0.07% → $20k - $50k \| 0.10% → $50k - $100k \| 0.12% → $100k - $250k

Bank of Utah Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.48%^*	$100k^*	-	Public Fund Advantage
OTHER TIERS: 0.24% → $1 - $50k \| 0.36% → $50k - $100k
0.10%^*	$50k^*	-	Premier Gold Checking
OTHER TIERS: 0.05% → $500 - $5k \| 0.06% → $5k - $20k \| 0.07% → $20k - $50k
0.07%^*	$20k^*	-	Non-profit Advantage
OTHER TIERS: 0.03% → $1 - $2.5k \| 0.05% → $2.5k - $20k
0.05%	$500	-	Top 50 Checking
0.05%^*	$20k^*	-	Business Advantage Checking
OTHER TIERS: 0.01% → $1 - $2.5k \| 0.03% → $2.5k - $20k
0.01%	$500	-	Premier Checking

Bank of Utah CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.70%	$1k	$100k	5 Year CD
0.70%	$1k	-	Business 5 Year CD
0.65%	$1k	$100k	4 Year CD
0.65%	$1k	-	Business 4 Year CD
0.60%	$1k	$100k	3 Year CD
0.60%	$1k	-	Business 3 Year CD
0.58%^*	$100k^*	-	Business 2 Year CD
OTHER TIERS: 0.48% → $1k - $100k
0.58%	$100k	-	2 Year Jumbo CD
0.50%	$1k	$100k	30 Month CD
0.50%	$1k	-	Business 30 Month CD
0.48%	$1k	$100k	2 Year CD
0.45%^*	$100k^*	-	Business 1 Year CD
OTHER TIERS: 0.35% → $1k - $100k
0.45%	$100k	-	1 Year Jumbo CD
0.45%	$100k	-	15 month Jumbo CD
0.45%^*	$100k^*	-	Business 15 Month CD
OTHER TIERS: 0.35% → $1k - $100k
0.35%	$1k	$100k	1 Year CD
0.35%	$1k	$100k	18 Month CD
0.35%^*	$100k^*	-	Business 182 Day CD
OTHER TIERS: 0.25% → $1k - $100k
0.35%	$1k	-	Business 18 Month CD
0.35%	$100k	-	182 Day Jumbo CD
0.35%	$1k	$100k	15 Month CD
0.25%	$1k	$100k	182 Day CD
0.20%^*	$100k^*	-	Business 90 Day CD
OTHER TIERS: 0.10% → $1k - $100k
0.20%	$100k	-	90 Day Jumbo CD
0.15%^*	$100k^*	-	Business 30 Day CD
OTHER TIERS: 0.05% → $2.5k - $100k
0.15%^*	$100k^*	-	Business 60 Day CD
OTHER TIERS: 0.05% → $1k - $100k
0.15%	$100k	-	30 Day Jumbo CD
0.15%	$100k	-	60 Day Jumbo CD
0.10%	$1k	$100k	90 Day CD
0.05%	$2.5k	$100k	30 Day CD
0.05%	$1k	$100k	60 Day CD

Bank of Utah IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.41%	$100	-	30 Month IRA
1.02%	$100	-	18 Month IRA
0.75%	$100	-	6 Month IRA

Locations

Availability

Salt Lake City Area

Salt Lake City Area bank & credit union details

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