State Bank of Southern Utah

Overview / Commentary
377 North Main
Cedar City, UT 84721

State Bank of Southern Utah is headquartered in CEDAR CITY and is the 21st largest bank in the state of Utah. It is also the 501st largest bank in the nation. It was established in 1957 and as of December of 2023, it had grown to 270 employees at 16 locations. State Bank of Southern Utah's money market rates are 9X the national average, and it has a B+ health rating.

Reviews (2)

Good for locals, but only in a small geographic area

I used this bank when I was living in a small town in Utah for a brief period. The customer service reps at the building were always fair and nice as they are locals and seemed to understand how to treat regulars. Since it was a smaller bank with only branches scattered in smaller towns, I did notice some personal touches which were appreciated by me as a consumer in terms of knowing your name, face, etc.. Their facilities were also always clean and professional despite not having tons of bells and whistles. Those are the pluses, but there are some things I would change. For starters, the online experience is a bit clumsy and doesn't have the slick look that many other bigger companies have. In addition, it seems like some of the interest rates I was offered simply weren't competitive as well which was a downer. In the end, I had to go somewhere that had more services.

State Bank Of Southern Utah

Posted by: |

I would recommend against banking with State Bank of Southern Utah for any banking needs. We have dealt with State Bank of Southern Utah for a number of years and have experienced a countless frustrating experiences with their poorly trained staff and banking practices that are both questionable and inconsistent. We have also banked with a local credit union for many years and have never encountered the numerous inconsistencies and frustrating issues that we have experienced repeatedly with State Bank of Southern Utah. When attempts to address our concerns were advanced, we were treated with disrespectful disregard-they advertise care and concern for their customers but they fail to demonstrate normal and customary client service. We have never left an online review before, but the inconsistent, distasteful, and unprofessional behavior of State Bank of Southern Utah employees should be made public.


Health Grade Components

FDIC Certificate #17964
Year Established1957
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.97%
Return on Equity - YTD11.83%
Annual Interest Income$97MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$2.38B$2.21B
LoansQ4 2023vs Q4 2022$1.42B$1.25B
DepositsQ4 2023vs Q4 2022$1.91B$1.94B
Equity CapitalQ4 2023vs Q4 2022$208.6MM$179.5MM
Loan Loss AllowanceQ4 2023vs Q4 2022$18.5MM$14.9MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$7MM$8.5MM
Real Estate OwnedQ4 2023vs Q4 2022$2.8MM$2.4MM
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Always verify rates and promotions with the bank or credit union. We are not State Bank of Southern Utah; we are a rate comparison website and cannot provide official rates or promotions.

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

State Bank of Southern Utah Savings Account Rates

OTHER TIERS: 3.03% Up to $25k | 3.55% $25k - $250k
0.20%--Regular Savings

State Bank of Southern Utah Money Market Rates

4.07%*$500k*-Money Market Account
OTHER TIERS: 2.02% $500 - $25k | 2.53% $25k - $100k | 3.04% $100k - $500k

State Bank of Southern Utah Checking Account Rates

3.56%-$50kBig Interest Checking
0.20%*$500k*-Business Interest Checking
OTHER TIERS: 0.05% $5k - $50k | 0.10% $50k - $500k
0.15%*$25k*-Emerald Elite
OTHER TIERS: 0.10% Up to $25k

State Bank of Southern Utah CD Rates

5.20%$500-12 Month Add-On CD
5.20%$500-Business 12 Month Add-On CD
4.00%$500-18 Month CD
4.00%$500-24 Month CD
4.00%$500-60 Month CD
4.00%$500-6 Month CD
4.00%$500-Business 6 Month CD
4.00%$500-Business 18 Month CD
4.00%$500-Business 24 Month CD
4.00%$500-Business 60 Month CD
3.75%$500-36 Month CD
3.75%$500-48 Month CD
3.75%$500-Business 36 Month CD
3.75%$500-Business 48 Month CD
0.20%$500-3 Month CD
0.20%$500-Business 3 Month CD
0.10%$500-1 Month CD
0.10%$500-Business 1 Month CD


Salt Lake City Area

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