Central Bank (UT)

Overview / Commentary
75 North University Avenue
Provo, UT 84601

Central Bank (UT) is headquartered in PROVO and is the 23rd largest bank in the state of Utah. It is also the 592nd largest bank in the nation. It was established in 1891 and as of December of 2023, it had grown to 278 employees at 12 locations. Central Bank (UT)'s money market rates are 9X the national average, and it has a B+ 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 Grade Components

FDIC Certificate #9204
Year Established1891
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.41%
Return on Equity - YTD13.03%
Annual Interest Income$100.4MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$1.96B$2.03B
LoansQ4 2023vs Q4 2022$1.12B$1.04B
DepositsQ4 2023vs Q4 2022$1.44B$1.59B
Equity CapitalQ4 2023vs Q4 2022$233.5MM$202.4MM
Loan Loss AllowanceQ4 2023vs Q4 2022$34.3MM$31.2MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$4.5MM$727K
Real Estate OwnedQ4 2023vs Q4 2022$504K$1.2MM
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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

0.35%$1-YOUth Smart Savings Account
0.15%$100-Business Savings
0.15%$100-Personal Statement Savings Account

Central Bank (UT) Money Market Rates

3.82%*$500k*-High Yield Money Market Account
OTHER TIERS: 1.51% $1k - $10k | 1.61% $10k - $100k | 2.53% $100k - $250k | 3.35% $250k - $500k

Central Bank (UT) CD Rates

5.34%$500-6 Month CD Special
5.34%$500-Business 6 Month CD Special
5.08%$500-12 Month CD Special
5.08%$500-Business 12 Month CD Special
3.65%$500-5 Year CD
3.65%$500-Business 5 Year CD
3.13%$500-4 Year CD
3.13%$500-Business 4 Year CD
2.88%$500-3 Year CD
2.88%$500-Business 3 Year CD
2.62%$500-2 Year CD
2.62%$500-Business 2 Year CD
2.37%$500-1 Year CD
2.37%$500-Business 1 Year CD
1.61%$500-6 Month CD
1.61%$500-Business 6 Month CD
1.36%$500-60 Day to 6 Month CD
1.36%$500-Business 60 Day to 6 Month CD

Central Bank (UT) IRA Rates

5.34%$100-6 Month IRA Special
5.08%$100-12 Month IRA Special
3.65%--5 Year IRA
3.13%--4 Year IRA
2.88%--3 Year IRA
2.62%--2 Year IRA
2.37%--1 Year IRA


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