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]

Bank of Utah
IndustryBanking
FoundedDecember 1, 1952 (1952-12-01)
HeadquartersOgden, Weber County, Utah
Key people
Frank W. Browning (Chairman)
Doug L. DeFries (President)
ProductsFinancial services
Number of employees
317 (2016)
DivisionsPersonal Banking
Home Loans
Business Banking
Treasury Management
Commercial Loans
Wealth Management
Private Banking
Personal Trust
Corporate Trust
WebsiteBankofUtah.com

As of September 2018, the company held just over $1.3 billion in assets[3] with over 350 employees. Bank of Utah opened its latest branch in Bountiful, Utah[4] and added three more branches in Provo, Lindon and Heber City through the purchase of American Bank of Commerce (AmBank).[5] The bank currently has 20 locations across Utah - including 17 full-service branches along the Wasatch Front and three mortgage-only offices throughout Utah.

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:[6] Bank of Ben Lomond (1974), Bank of Brigham City (1978), Bank of Northern Utah (1978), First Commerce Bank (1999) and American Bank of Commerce (AmBank) (2018).[7]

Business

The bank manages nearly 1,400 aircraft trust accounts.[8]

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
  1. "UBA Bank Directory". UBA.
  2. "Bank of Utah to Transition Leadership in January 2011". Utah Real Estate News.
  3. "FDIC Bank Directory". FDIC.
  4. "Bank of Utah Officially Opens New Full-Service Branch in Bountiful". Utah Business. Archived from the original on 2017-08-01. Retrieved 2017-07-31.
  5. "Bank of Utah to Acquire American Bank of Commerce". Utah Business. Archived from the original on 2018-09-14. Retrieved 2018-09-14.
  6. "FDIC BankFind". FDIC.
  7. "Bank of Utah to Acquire American Bank of Commerce". Utah Business. Archived from the original on 2018-09-14. Retrieved 2018-09-14.
  8. "What Are Non-Citizen Trusts? A Routine, Well-Regulated Way to Register Aircraft". National Business Aviation Association. 30 Nov 2017. Archived from the original on 6 December 2017. Retrieved 4 December 2017.
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