Bank of Utica

What Bank of Utica does

Bank of Utica is a privately-held, FDIC-insured full-service commercial bank headquartered at 222 Genesee Street, Utica, New York. Founded circa 1944, the bank has operated in the Mohawk Valley / Central New York region for more than 80 years, serving individual consumers, small businesses, and municipal / tax-exempt entities primarily across Oneida, Herkimer, Madison, and Otsego counties. The institution runs from a single physical branch but extends reach through digital channels, an Allpoint Network ATM partnership covering 55,000+ surcharge-free ATMs nationwide, and dedicated relationship managers (President and CEO Tom Sinnott; EVP Brian Loughlin overseeing commercial banking). Ownership is private with no parent company, no public listing, and no venture capital or private equity backers referenced in available materials.

The bank's product portfolio spans core retail and commercial banking: checking, savings, money market, and certificates of deposit (with CDs up to 4.10% APY on 4-5 year terms), retirement accounts including IRAs and HSAs, personal and commercial loans, and traditional services (safe deposit boxes, foreign currency exchange, notary, medallion signature guarantees). Digital banking is delivered through a Fiserv-powered Mobile Banking app and Business Online suite featuring CardHub debit card management, mobile check deposit, Zelle person-to-person payments, ACH origination, remote deposit capture, Positive Pay fraud protection, and domestic wire transfers. Fraud defense for online banking is provided via IBM Trusteer Rapport at no cost to customers. The bank's moat narrative emphasizes local roots, long-tenured staff (75%+ with 10+ years, 50%+ with 20+ years), and individualized decision-making over large national competitors.

Revenue mechanics follow a traditional community banking model: net interest income from the spread on loans and deposits is the primary stream, supplemented by transaction and account fees (overdraft, wires, ATM-related charges), with deposit products priced at competitive local-market rates. Pricing is tiered across personal and business checking (0.10% APY), money market (2.00%), savings (2.10%), and CDs (3.80%-4.10%). Distribution relies on a single Utica branch plus digital self-service enrollment via https://accounts.bankofutica.com. Marketing reaches customers through monthly email newsletters, an archive of TV and radio spots, an online education center, and community event sponsorships, with no outward evidence of outbound enterprise sales or customer-acquisition campaigns targeting new geographies.

Name

Bank of Utica

Legal name

Bank of Utica

Website

https://bankofutica.com

Company type

Private

Founded year

1944

Operating status

Operating

Headcount range

11–50 employees

Short description

Bank of Utica is a privately-held FDIC-insured community bank founded circa 1944, operating from a single Utica, NY branch, serving individuals, small businesses, and municipal entities in the Mohawk Valley with deposits, lending, and digital banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community banking
• Deposit accounts
• Commercial lending
• Business banking
• Online banking

Headquarters

HQ city

Utica

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Traditional banking revenue from interest rate spread on loans (personal loans, business loans, mortgages) and deposits (checking, savings, money market, CDs).
2. Deposit Account Fees: Various fee income from deposit accounts including minimum balance fees, overdraft fees, wire transfer fees, and ATM-related charges.
3. Interest on Deposits: Interest earned on customer deposits including checking, savings, money market accounts, and certificates of deposit. CDs offer competitive rates up to 4.10% APY.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Bank of Utica is a full-service community bank offering deposit products (checking, savings, money market, and certificates of deposit), consumer and commercial lending, and digital banking services for individuals and businesses in the Mohawk Valley region of Central New York. The bank also provides traditional banking services such as safe deposit boxes, foreign currency exchange, and notary services, alongside a Quickdraw VISA debit card and CardHub card-management platform.

Product overview

Bank of Utica is a full-service community bank offering a unified portfolio of consumer and commercial banking products. The core offerings include deposit products (checking, savings, money market accounts, and certificates of deposit) alongside lending products (personal and business loans). Digital banking services include consumer Online Banking and Mobile Banking (powered by Fiserv), Business Online for commercial customers, Quickdraw® VISA Debit Card, CardHub® for card management, and Traditional Services such as safe deposit boxes and currency exchange. Business Online provides advanced features including Remote Deposit, ACH Origination, Positive Pay fraud protection, and wire transfers. The bank also offers Bill Payment and Zelle for payment services. Products integrate with the Allpoint ATM network, Trusteer Rapport security software (IBM partnership), and Fiserv mobile banking infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts

Quantifiable outcome

• 80+ years of continuous operation in Utica, NY
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Allpoint NetworkcoreTechnology or IntegrationPartnership providing Bank of Utica customers access to over 55,000 surcharge-free ATMs across the US and select countries. Allows customers to withdraw cash without fees at Allpoint-branded ATMs in various retail locations.
• IBM (Trusteer)coreTechnology or IntegrationIBM provides Trusteer Rapport security software to Bank of Utica's online banking customers at no cost. Trusteer Rapport protects online banking communications from financial malware, phishing attacks, and data breaches using real-time threat intelligence.
• FiservcoreTechnology or IntegrationFiserv powers Bank of Utica's Mobile Banking app, providing real-time account access, transaction viewing, transfers, bill payment, check deposit via mobile camera, alerts, and card management features through the Fiserv platform.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• KeyBank: A large regional bank with a significant Upstate New York presence, offering consumer, small-business, and treasury management products that compete with Bank of Utica's full-service suite.
• M&T Bank: A major Buffalo-based regional bank with extensive Upstate New York branch coverage, competing directly with Bank of Utica for consumer, small-business, and municipal deposits in overlapping markets.
• Berkshire Bank: A larger New England and Upstate New York community and regional bank offering a comparable consumer and small-business banking suite at greater scale and with broader geographic reach.

Direct peers

• Tompkins Financial Corporation: A Finger Lakes / Upstate New York community-banking holding company offering consumer and commercial deposit, lending, and wealth services in a similar geographic and demographic profile.
• NBT Bank: NBT Bancorp (Norwich, NY) operates a network of community-banking branches across Upstate New York, offering consumer and commercial deposit and lending products comparable to Bank of Utica and competing for the same regional customers.
• Evans Bancorp: A Western New York community bank holding company (Evans Bank) with consumer and commercial banking products comparable in scope to Bank of Utica's full-service offering.
• Chemung Financial Corporation: The Elmira, NY-based parent of Chemung Canal Trust Company, an Upstate New York community bank offering consumer, small-business, and municipal banking in markets structurally similar to the Mohawk Valley.
• Arrow Financial Corporation: A Glens Falls, NY community-banking holding company (Saratoga National Bank and Glens Falls National Bank) operating a similar Upstate New York consumer and small-business banking model.
• Adirondack Trust Company: An independently owned Upstate New York community bank of similar scale, providing consumer and small-business banking, mortgages, and trust services to a regional Upstate market with a comparable community-bank operating model.
• Community Bank, N.A. The community-banking subsidiary of Community Bank System (DeWitt, NY) is a direct Upstate New York competitor offering consumer, small-business, and municipal banking across overlapping counties.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/bank-of-utica

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Bank of Utica