Bank of Utah

Name

Bank of Utah

Legal name

Bank of Utah

Website

https://bankofutah.com

Company type

Private

Founded year

1952

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Balance-Sheet / Portfolio CRE Lending (FSALADAG)

akta.pro secondary industries

Private Banking Lending (Securities-Backed, Real Estate, Structured Credit) (FSABADAE), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Community banking services
• Commercial lending
• Residential mortgages
• Wealth management services
• Treasury management

Headquarters

HQ city

Saint George

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Interest income from loans (commercial real estate, consumer loans, home loans, SBA loans) minus interest paid on deposits (checking, savings, CDs, money market accounts). Primary revenue driver for community bank.
2. Non-Interest Income: Fee income from treasury management services, wire transfers, foreign exchange, merchant services, overdraft fees, ATM fees, and loan origination fees.
3. Wealth Management / Trust Services: Fiduciary services, investment management, and self-directed IRA fees for personal trust and corporate trust (aircraft, owner trust, security trust) customers.
4. Mortgage Banking: Revenue from mortgage loan originations including construction loans, purchase mortgages, refinances, HELOCs, and reverse mortgages.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Bank of Utah is a privately held community bank offering FDIC-insured deposit products (checking, savings, CDs, IRAs, HSAs), consumer and commercial loans (auto, HELOC, RV, mortgage, SBA, CRE), treasury management, wealth management, and corporate trust services to individuals, small and medium businesses, and corporate clients across Utah through a branch network and digital banking channels. The bank's primary revenue comes from net interest income on loans and deposits, supplemented by transaction-based fees and trust/wealth management fees.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts Personal checking accounts offering features like online banking, mobile banking, debit cards, and various checking account types to fit different customer needs and lifestyles, for Utah retail consumers.
• Personal Savings Accounts Savings accounts including general savings, money market accounts, and I Save accounts with tiered interest rates and unlimited withdrawals, for individual consumers.
• Certificates of Deposit (CDs) Term deposit accounts offering fixed interest rates with terms ranging from 30 days to 5 years, including Super Saver CD options that allow adding funds over time, for individual savers.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including traditional and Roth IRA options for individuals saving for retirement.
• Health Savings Accounts (HSA) Tax-advantaged accounts for individuals with high-deductible health plans to save for medical expenses, with employer HSA offerings also available.
• Personal Loans Consumer lending products including auto loans, home equity lines of credit (HELOC), recreational vehicle loans, CD- and savings-secured loans, unsecured loans, and student loans for individual borrowers.
• Home Loans Residential mortgage products including purchase loans, refinance options, construction loans, and reverse mortgages offered through Bank of Utah's home lending division for homebuyers, builders, and homeowners.
• Business Checking & Savings Commercial banking accounts including business checking, business savings, business certificates of deposit, sweep accounts, and business rewards debit cards for Utah small and medium businesses.
• Business Loans Commercial lending products including commercial real estate loans, lines of credit, equipment loans, SBA loans (7(a) and 504 programs), and business credit cards for Utah small and medium businesses.
• Treasury Management Services Business cash management services including business online banking, remote deposit capture, ACH origination and collections, Positive Pay fraud protection, merchant services, sweep accounts, and foreign exchange services for business clients.
• Private Banking Personalized banking services for high-net-worth individuals offering customized financial solutions and relationship-based service.
• Personal Trust and Investments Wealth management services including fiduciary services, investment management, and self-directed IRAs with access to personal trust officers and financial planners for individual wealth management clients.
• Corporate Trust Specialized trust services for businesses including owner trust, security trust, and aircraft trust services for corporate and individual clients needing fiduciary arrangements.
• Online and Mobile Banking Digital banking platform providing account access, mobile check deposit, card management, Zelle transfers, bill pay, and financial management tools (My Money Hub) through web and mobile applications for consumer and business clients.
• Pinnacle Business Credit Card Business credit card offering rewards and benefits designed for commercial banking customers.
• Digital Asset Services (via Stablecore) Digital asset capabilities enabling banks to offer stablecoins, tokenized deposits, and digital asset accounts. Bank of Utah is an early participant in Q2 Holdings' partnership with Stablecore, allowing customers to access digital asset products.

Quantifiable outcome

• SBA Top Export Lender in Utah for 2024 and 2025
• +1 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Pinnacle Financial Partners: Pinnacle Financial Partners is a Tennessee-based community bank known for relationship-based commercial banking, SBA lending, and wealth services. Its similar sales-led, locally-decisioned commercial banking model makes it a structural analog even though its geography differs.
• Pacific Premier Bancorp: Pacific Premier Bancorp is a California-based community bank with commercial, SBA, and treasury management focus. Its similar scale, focus on small-to-mid-sized business banking, and diversified fee-income model make it a comparable peer.
• Glacier Bancorp: Glacier Bancorp is a multi-state community banking holding company operating across the Mountain West and Pacific Northwest. Its community-bank acquisition and decentralized operating model make it a structurally comparable peer to Bank of Utah in scale, customer focus, and lending mix.
• First Interstate BancSystem: First Interstate is a community-focused commercial bank with branches across the Mountain West including Wyoming, Montana, and Idaho near Utah. It shares Bank of Utah's relationship-driven, full-service community banking model with comparable commercial, mortgage, and wealth management lines.
• Zions Bancorporation: Zions Bancorporation is the largest Utah-headquartered bank holding company with full commercial, SBA, wealth, and treasury management capabilities across the Mountain West. It is the most directly comparable peer given overlapping geography, customer segments, and product mix; one of Bank of Utah's executives has prior experience at Zions.
• UMB Financial Corporation: UMB Financial is a mid-size commercial bank with strong treasury management, corporate trust, and wealth management capabilities. Its diversified fee-income model and similar focus on corporate trust services (including aviation trust) make it a comparable peer for Bank of Utah's specialty businesses.
• Banner Corporation: Banner Corporation is a Pacific Northwest community bank holding company offering commercial, SBA, mortgage, and treasury management services. Comparable in scale, product breadth, and focus on small-to-mid-sized businesses to Bank of Utah.

Regional players

• Mountain America Credit Union: Mountain America Credit Union is a large Utah-headquartered credit union serving members across the Intermountain West. It is a key direct competitor for consumer deposits, auto loans, and mortgages in Bank of Utah's home market, with one of Bank of Utah's executives having prior experience there.

Broad incumbents

• JPMorgan Chase: JPMorgan Chase is the largest U.S. bank with national retail, commercial, mortgage, and wealth management franchises. While it competes with Bank of Utah for deposits, SMB banking, and SBA-eligible borrowers, it does not focus on the community banking niche.
• Wells Fargo: Wells Fargo is a national full-service bank competing with Bank of Utah across consumer, small business, mortgage, and wealth segments. It represents the broad incumbent competitive threat from scale players in Bank of Utah's primary market.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/BankofUtah
• LinkedInlinkedin.com/company/bank-of-utah

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank of Utah