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Overview / Commentary
6985 Union Park Center
Cottonwood Heights, UT 84047

Proficio Bank is headquartered in Cottonwood Heigh and is the 42nd largest bank in the state of Utah. It is also the 4,982nd largest bank in the nation. It was established in 2000 and as of December of 2016, it had grown to 11 employees at 1 location. Proficio Bank's CD rates are 12% higher than the national average, but it has a F health rating.

Reviews (7)

Great Reverse Mortgage Team!

Posted by: kristie11 | Aug 15, 2012

We had a wonderful experiance with Proficio and their staff, keep up the great work!

Great Lender

I wish all lenders provided the kind of service this one has provided me. The agent i worked with in closing my reverse got it done for me smoothly without any head aches or problems.

Wonderful Service

I must say I had wonderful service from this company.they were in contact with me every couple days iinforming of the status of my loan.very friendly and everything they promised to me was exactly correct when the notary came to my home to sign the closing documents! I have refinanced 3 times in the last 7 years and I must say this bank was by far the best!!

Highly Recommend- We Had An Excellent Mortgage Experience With Proficio

Posted by: Anonymous | Nov 10, 2011

Highly Recommend Proficio. From pre-qualification through application to closing. Our loan officer was with us every step of the way. When we ran into challenges, they were right people to get our questions answered.

Our closing was on time and our real estate agent complemented them on their consistent follow-up, making sure to keep everyone in the loop. We don't plan on buying another house soon, but we will recommend Proficio to all of our Friends and Family.

Jan and Robert Turner

Naples, Fl

Proficio Has Poor Customer Service

Posted by: tonjota | Jan 26, 2012

My husband talked with one loan officer and she was really nice to him. She called me to get financial information from me to give me a quote. I told her that I never heard of Proficio and that I wanted more information. She did not like that answer and started being rude to me. Telling me that I was going about this all wrong. I told her that we were not interested in this company. Then today I received a call from another loan officer and he told me that  I was rude and told me he did not care if I became a customer at the end of our conversation. Never in my life have I had people treat me with such disrespect and tell me that they did not want me as a customer. I decided that I would go with another company that had better customer service. I would not recommend this company to anyone.  I have never had a person call me and then tell me they wanted to educate me about mortages and that they did not care if I became a customer.  Customer service should be number one with a company and there no one should ever be told that they are not wanted as a customer. 

Very Shaddy

Posted by: Anonymous | Nov 28, 2011

We responded to Proficio's refinance offer, but they wanted a credit card number prior to determining whether we would be approved. Such a request has never been made in our previous real estate transactions. When we declined to give a credit card number, for some reason we did not "qualify" for the program. uummmmm, very, very, shady.

*Do Not Use*

Posted by: cdiorka | Jun 3, 2011

I would definitely NOT recommend using Proficio Bank/Community First Bank of Schaumburg to get a home loan.  Our main contact was Vito and we were not satisfied with the service we received.  In the beginning, he was very quick to respond to our questions/concerns but when we really needed him – right before closing, it was impossible to get answers or to reach him.  We didn't find out we were approved until two days before closing.  They asked us for the application documents several times and didn't appear organized.  While we were sitting at our closing, Proficio decided that they weren’t going to approve our $2,000 towards closing costs.  They even asked our realtor for advice on how they could make it work.  They seemed like they didn’t know what they were doing and waited to the very last minute.  We are lucky we closed on time.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Proficio Bank has a relatively low asset base, and a negative return on equity.

Health Grade Components

FDIC Certificate #35495
Year Established2000
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-4.53%
Return on Equity - YTD-133.22%
Annual Interest Income$3.7MM
Assets and Liabilities
AssetsQ4 2016vs Q4 2015$68.2MM$109.5MM
LoansQ4 2016vs Q4 2015$45.5MM$74.4MM
DepositsQ4 2016vs Q4 2015$65.0MM$96.8MM
Equity CapitalQ4 2016vs Q4 2015$2.3MM$4.5MM
Loan Loss AllowanceQ4 2016vs Q4 2015$674.00K$503.00K
Unbacked Noncurrent LoansQ4 2016vs Q4 2015$65.00K$3.1MM
Real Estate OwnedQ4 2016vs Q4 2015$2.4MM$3.6MM
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Proficio Bank CD Rates

1.30%$100k-36 Months CD
1.15%$100k-24 Month CD
1.01%$100k-12 Month CD
0.85%$100k-6 Month CD
0.84%$100k-60 Days CD
0.82%$100k-30 Days CD

Proficio Bank Locations
Proficio Bank6985 Union Park CenterCottonwood Heights, UT 84047