Central Bank (UT)


Overview / Commentary
801-375-1000
75 North University Avenue
Provo, UT 84601

Central Bank (UT) is headquartered in Provo and is the 21st largest bank in the state of Utah. It is also the 662nd largest bank in the nation. It was established in 1891 and as of June of 2020, it had grown to 245 employees at 11 locations. Central Bank (UT)'s money market rates are 14% higher than the national average, and it boasts an A+ health rating.

Reviews (2)

Great bank!

Posted by: |

When I lived in Provo, I used Central Bank, switching over from Wells Fargo. Personable service, and you can actually get to know the people that work there (turnover seems low). This has been a good overall banking experience for me, and even after moving to a different state, I've found it easier to continue working with them rather than switch to a new bank. They post funds quickly, offer free checking (or at least did when I signed up), and have a great online banking application that allows you to take pictures of checks and submit them rather than have to mail them in or hand-deliver them, which has been a lifesaver living several states away. Overall, a very positive experience, and I'd highly recommend them to anyone in the area; I do know they have other branches in the state, though this was the Provo Office was the only one I ever dealt with.

Warning To All Who Might Use Central Bank

Posted by: |

Never use Central Bank they are thieves and dishonest.
i call to fix a problem with my account
then without telling me closed out my account
even though the problem was because of a technical error on central banks part.
NEVER NEVER NEVER get an account with them or you will be sorry.



Health
A+

Health Grade Components

Overall
FDIC Certificate #9204
Year Established1891
Employees245
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.82%
Return on Equity - YTD11.47%
Annual Interest Income$30.7MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$1.43B$1.15B
LoansQ2 2020vs Q2 2019$799.3MM$727.3MM
DepositsQ2 2020vs Q2 2019$1.13B$861.7MM
Equity CapitalQ2 2020vs Q2 2019$210.8MM$189.4MM
Loan Loss AllowanceQ2 2020vs Q2 2019$23.8MM$21.7MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$653.00K$0
Real Estate OwnedQ2 2020vs Q2 2019$5.5MM$6.9MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Central Bank (UT) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%$1-YOUth Smart Savings Account
0.10%$100-Business Savings
0.10%$100-Personal Statement Savings Account

Central Bank (UT) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$500k*-High Yield Money Market Account
OTHER TIERS: 0.15% $1k - $10k | 0.35% $10k - $250k | 0.40% $250k - $500k

Central Bank (UT) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%$500-5 Year CD
0.95%$500-4 Year CD
0.80%$500-3 Year CD
0.70%$500-2 Year CD
0.35%$500-1 Year CD
0.25%$500-6 Month CD
0.15%$500-60 Day to 6 Month CD

Central Bank (UT) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%--5 Year IRA
0.95%--4 Year IRA
0.80%--3 Year IRA
0.70%--2 Year IRA
0.35%--1 Year IRA
Locations

Availability



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