Bank of Utah

Bank of Utah is a federally-insured community bank, with corporate headquarters in Ogden, Utah. It is part of the Utah Bankers Association (UBA),^[1] the American Bankers Association (ABA), and the Federal Deposit Insurance Corporation (FDIC). Douglas L. DeFries has been president of Bank of Utah since January 2011.^[2]

As of March 31, 2016, the company held just under $975 million in assets^[3] with approximately 300 employees. Bank of Utah opened its latest branch in Orem, Utah^[4] and currently has 18 locations across Utah - including 13 full-service branches along the Wasatch Front, four mortgage-specific offices throughout Utah, and trust teams in Ogden and Salt Lake City.

History

Bank of Utah opened its doors for business on December 1, 1952 by an Ogden businessman named Frank M. Browning, and remains locally-owned and operated. Mr. Browning formed Bank of Utah to create a financial institution based on "relationship banking." The bank started with 16 employees and less than $1 million in assets. Since its creation, Bank of Utah has acquired the following banks:^[5] Bank of Ben Lomond (1974), Bank of Brigham City (1978), Bank of Northern Utah (1978), and First Commerce Bank (1999).^[6]

Advances

Bank of Utah became the first bank in the state to issue a credit card, called the "Cred-O-Matic Shopping Plan." It was also the first Utah bank to become a "motor bank" by adding a drive-up teller window to its building.

References

External links

• Bank of Utah