Bank of Utah

Overview / Commentary
2605 Washington Blvd
Ogden, UT 84401

Bank of Utah is headquartered in OGDEN and is the 18th largest bank in the state of Utah. It is also the 416th largest bank in the nation. It was established in 1952 and as of September of 2023, it had grown to 374 employees at 20 locations. Bank of Utah's CD rates are 6X the national average, and it boasts 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 - YTD1.57%
Return on Equity - YTD11.75%
Annual Interest Income$92.8MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$2.83B$2.31B
LoansQ3 2023vs Q3 2022$2.09B$1.63B
DepositsQ3 2023vs Q3 2022$2.22B$1.97B
Equity CapitalQ3 2023vs Q3 2022$355.5MM$241.4MM
Loan Loss AllowanceQ3 2023vs Q3 2022$29.3MM$19.3MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$0$0
Real Estate OwnedQ3 2023vs Q3 2022$0$1.4MM
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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

2.07%*$200k*-iSave Account
OTHER TIERS: 0.60% $500 - $10k | 1.14% $10k - $50k | 1.20% $50k - $100k | 1.51% $100k - $150k | 2.02% $150k - $200k
2.07%*$200k*-Children's I Save
OTHER TIERS: 0.60% $500 - $10k | 1.14% $10k - $50k | 1.20% $50k - $100k | 1.51% $100k - $150k | 2.02% $150k - $200k
0.50%*$100k*-Sweep Repurchase Account
OTHER TIERS: 0.10% $1 - $50k | 0.25% $50k - $100k
0.32%*$1k*-Health Savings Account (HSA)
OTHER TIERS: 0.17% $500 - $1k
0.30%$1-Business Regular Savings

Bank of Utah Money Market Rates

1.65%*$250k*-Business Premier Gold Money Market Savings
OTHER TIERS: 0.30% $1 - $20k | 0.65% $20k - $50k | 0.99% $50k - $100k | 1.25% $100k - $250k
0.85%*$250k*-Business Insured Money Market Savings
OTHER TIERS: 0.10% $1 - $20k | 0.20% $20k - $50k | 0.30% $50k - $100k | 0.50% $100k - $250k
0.30%$1-Business Money Market Sweep

Bank of Utah Checking Account Rates

5.56%*$100k*-Public Fund Advantage
OTHER TIERS: 2.74% $1 - $50k | 4.14% $50k - $100k
0.65%*$200k*-Evergreen (Hybrid) Account
OTHER TIERS: 0.05% $500 - $10k | 0.15% $10k - $50k | 0.25% $50k - $100k | 0.35% $100k - $150k | 0.50% $150k - $200k
0.05%*$20k*-Business Advantage Checking
OTHER TIERS: 0.01% $1 - $2.5k | 0.03% $2.5k - $20k
0.05%*$20k*-Non-profit Advantage
OTHER TIERS: 0.01% $1 - $2.5k | 0.03% $2.5k - $20k

Bank of Utah CD Rates

5.30%*$100k*-Business 1 Year CD
OTHER TIERS: 5.20% $1k - $100k
5.30%$100k-1 Year Jumbo CD
5.20%$1k$100k1 Year CD
4.75%*$100k*-Business 182 Day CD
OTHER TIERS: 4.65% $1k - $100k
4.75%$100k-182 Day Jumbo CD
4.65%$1k$100k182 Day CD
3.91%*$100k*-Business 2 Year CD
OTHER TIERS: 2.68% $1k - $100k
3.91%$100k-2 Year Jumbo CD
3.30%*$100k*-Business 90 Day CD
OTHER TIERS: 3.00% $1k - $100k
3.30%$100k-90 Day Jumbo CD
3.03%$100k-30 Month Jumbo CD
3.03%$100k-3 Year Jumbo CD
3.03%$100k-4 Year Jumbo CD
3.03%$100k-5 Year Jumbo CD
3.03%$100k-Business 30 Month Jumbo CD
3.03%$100k-Business 3 Year Jumbo CD
3.03%$100k-Business 4 Year Jumbo CD
3.03%$100k-Business 5 Year Jumbo CD
3.00%$1k$100k90 Day CD
2.78%$1k$100k18 Month CD
2.78%$1k-Business 18 Month CD
2.68%$1k$100k2 Year CD
2.68%$1k$100k30 Month CD
2.68%$1k$100k3 Year CD
2.68%$1k$100k4 Year CD
2.68%$1k$100k5 Year CD
2.68%$1k-Business 30 Month CD
2.68%$1k-Business 3 Year CD
2.68%$1k-Business 4 Year CD
2.68%$1k-Business 5 Year CD
1.00%*$100k*-Business 60 Day CD
OTHER TIERS: 0.75% $1k - $100k
1.00%$100k-60 Day Jumbo CD
0.75%$1k$100k60 Day CD
0.45%*$100k*-Business 30 Day CD
OTHER TIERS: 0.15% $2.5k - $100k
0.45%$100k-30 Day Jumbo CD
0.15%$2.5k$100k30 Day CD

Bank of Utah IRA Rates

4.06%$100-30 Month IRA
3.91%$100-18 Month IRA
2.02%$100-6 Month IRA


Salt Lake City Area

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