A new name followed a change in ownership
Cache Valley Bank began on October 2, 1975 as North Park Bank of Commerce, serving farmers, small businesses and families. Its own history describes a difficult period in 1982 that brought a complete change in ownership and leadership. In the following transition, the bank adopted the Cache Valley name and moved from North Logan to Logan's Main Street. [1]
The holding company, Cache Valley Banking Company, was created in 1995. The bank's account describes subsequent growth beyond its original valley, including acquisitions of selected assets during the financial crisis and later expansion along the Wasatch Front. The January 2022 FDIC evaluation confirms that the insured bank was a wholly owned subsidiary of that holding company. The bank and parent therefore remain separate entities even when their names appear together. [1][3]
The Proficio transaction was a failed-bank resolution
One important expansion occurred on March 3, 2017. Utah regulators closed Proficio Bank in Cottonwood Heights and appointed the FDIC receiver. Cache Valley Bank assumed all of Proficio's deposits and agreed to purchase $60.1 million of its assets. Proficio had reported approximately $68.2 million in assets and $65 million in deposits at the preceding year-end. The FDIC retained the remaining assets. [2]
Customers became depositors of Cache Valley without needing to establish a replacement banking relationship, and Proficio's sole branch reopened under the acquiring bank. This was a regulator-managed resolution, not simply an ordinary purchase of a healthy operating company. Cache Valley's current history links the transaction to its foothold in the Salt Lake Valley and access to national SBA lending. [1][2]
Pandemic lending accelerated the bank's growth
The FDIC's January 14, 2022 CRA evaluation records another expansion phase. Assets reached about $2.9 billion by September 30, 2021, compared with about $1.3 billion at the prior examination. Examiners attributed much of the increase to Paycheck Protection Program participation, including $834.2 million of PPP originations in 2020. These government-supported emergency loans should not be read as recurring conventional business lending. [3]
Funding changed too. The report described a 96% increase in deposits since the earlier evaluation, citing pandemic-related relief payments and the purchase of $204 million in brokered deposits in late 2021. Brokered deposits are gathered through intermediaries rather than solely through direct local customer relationships. The historical example complicates a simple picture in which every dollar of funding came from neighborhood branches; it does not establish the bank's brokered-deposit share in 2026. [3]
Local offices now support a broader service offering
The current history page describes 24 locations extending from southern Idaho to southern Utah. It identifies recent expansion in Logan, Hyrum, Preston and Cedar City. Office types matter: the bank separately identifies its Lehi location as an appointment-only lending office, rather than describing every listed location as a full-service deposit branch. [1][6]
Its business lending covers acquisition finance, term loans, revolving lines, commercial real estate and SBA programs. Treasury services add payroll and vendor payments, wires, remote check deposits and account controls. These products connect lending to the daily movement of a business customer's money. In economic terms, that combination can deepen a banking relationship, although the published product pages do not quantify revenue or retention from bundled services. [4][5]
Property lending remains central after the emergency programs
At June 30, 2026, the bank reported $2.363 billion in real-estate-secured loans, $291.088 million in commercial and industrial loans and $14.713 million in consumer loans. Real estate is a broad collateral category that includes several residential and commercial uses. The aggregate alone cannot identify exposure to offices, a particular development or an individual borrower. [7]
The same report showed $7.847 million in and $1.230 million in first-half net . Those figures are a dated credit snapshot, not proof of future losses or a direction of travel. The 2022 CRA report's Satisfactory overall rating, meanwhile, addressed community-credit performance rather than solvency. Keeping these measures separate allows the operating history and financial results to inform each other without turning an old regulatory assessment into a current guarantee. [3][7]
The bank at midyear 2026
At June 30, 2026, Cache Valley Bank reported $3.487 billion in assets, $3.101 billion in deposits, $2.682 billion in net loans and leases, and $365.184 million in equity capital. Net income for the six months ended June 30 was $34.309 million. These are figures for the insured bank, not a consolidated parent; the income number covers January through June rather than the second quarter alone. [7]
Deposits equaled 88.9% of assets, and net loans and leases equaled 86.5% of deposits, calculated from the same report. Equity equaled 10.5% of assets. That last measure is a simple accounting ratio, not a regulatory risk-based capital ratio. The relationships describe the balance sheet at one date; they do not establish how quickly deposits might leave or how readily loans could be sold. [7]
Sources
- Cache Valley Bank: official history and current location description; reviewed October 6, 2026SourceBack to text: ↑1↑2↑3↑4
- FDIC: Cache Valley Bank assumes Proficio Bank deposits, March 3, 2017Official source · PDFBack to text: ↑1↑2
- FDIC: Cache Valley Bank CRA performance evaluation, January 14, 2022Source · PDFBack to text: ↑1↑2↑3↑4
- Cache Valley Bank: business loan products; reviewed October 6, 2026SourceBack to text: ↑1↑2
- Cache Valley Bank: treasury management; reviewed October 6, 2026SourceBack to text: ↑1↑2
- Cache Valley Bank: Lehi lending office; reviewed October 6, 2026SourceBack to text: ↑
- FDIC quarterly financial data: bank-level balances at June 30, 2026 and first-half 2026 income; dollars reported in thousandsOfficial sourceBack to text: ↑1↑2↑3↑4
- FDIC BankFind: Cache Valley Bank, certificate 22134; active Utah headquarters record reviewed October 6, 2026Official source
- Utah Department of Financial Institutions: institution directory, July 2026 workbookOfficial source