A seven-office bank built around Utah businesses
First Utah Bank began in 1978 and grew from a single office into a network serving Salt Lake and Utah counties. Its current history describes local ownership and decision-making. The FDIC identifies the insured institution by certificate 22738 and records October 19, 1978 as its establishment date. The bank's headquarters remains at 3826 South 2300 East in Salt Lake City. [1][6]
The FDIC's April 22, 2024 examination identifies First Utah Bancorporation as the controlling company. It describes six full-service branches in Salt Lake County and one in Utah County. The latter opened in Lehi in October 2021, extending both the bank's physical footprint and its defined community-reinvestment assessment area. The bank reported the same seven-office structure in its 2026–2027 public-file statement. [2][3]
Commercial lending is broader than a single type of business loan
Examiners described commercial credit as First Utah's principal business. Its offerings included property finance, equipment credit, business acquisitions, refinancing and working-capital lines, alongside consumer and home-equity products. The bank was an SBA preferred lender offering 7(a), 504 and working-capital programs. That designation concerns participation in government-supported lending programs; it does not mean every loan it makes is federally guaranteed. [2]
The bank's public statement also lists accounts-receivable and inventory finance. Those products link credit availability to assets and cash flows generated during a business's operating cycle. A customer waiting for invoices to be paid has different financing needs from a company purchasing a building, even though both relationships can fall under the broad heading of business banking. This distinction helps explain the varied products in the bank's commercial offering. [3]
Builder financing connects credit to the pace of construction
First Utah now markets a specific production-homebuilder program. Its product page describes financing for land acquisition, roads and utilities, speculative homes and the construction of multiple projects. Revolving lines allow draws as milestones are reached, up to an agreed limit. This is a different use of credit from a household mortgage taken out after a home is completed. [4]
Analysis: construction lending connects a bank to the sequence between acquiring land and selling or refinancing completed property. Delays in construction or sales can lengthen that sequence, while cost changes affect the amount a borrower needs to finish. The product page establishes that First Utah serves this market, but does not disclose the balances, performance or project mix of this particular program. It would be incorrect to attribute the bank's reported troubled loans to homebuilders without additional evidence. [4][5]
Property and commercial credit dominate the reported book
At December 31, 2023, the FDIC examination classified 73.6% of the bank's reported loans as real-estate-secured. Nonfarm nonresidential property was the largest component, at 54.3% of total loans. Commercial and industrial loans were 14.6%, while lease-financing receivables represented 11.9%, before the report's unearned-income adjustment. These historical figures show that a business focus includes both property collateral and financing outside real estate. [2]
The newer June 30, 2026 FDIC report recorded $490.138 million of real-estate-secured loans and $109.452 million in commercial and industrial loans. It also reported $40.545 million in and $3.393 million of net during the first six months. Those are material balances to retain in the account of the bank; the selected data do not disclose their borrowers, collateral or causes, and a single period is insufficient to establish whether credit conditions improved or deteriorated. [5]
Community-credit performance is a separate assessment
The April 2024 CRA examination assigned a Satisfactory overall rating, including Satisfactory lending performance and Outstanding community-development performance. Examiners found excellent geographic dispersion of small-business loans and reasonable lending across business revenue sizes. Those findings concern access to credit in the defined community and are not a judgment about the current value of the loan portfolio. [2]
The bank's 2026–2027 public statement describes continued financial-literacy work with Reality Town and Junior Achievement of Utah and participation in volunteer tax assistance. These are bank-reported activities rather than independently measured outcomes. Together with the Lehi expansion, they describe how the institution presents its regional role; the quarterly financial report separately shows the scale and credit results of the insured bank. [3][5]
The bank at midyear 2026
At June 30, 2026, First Utah Bank reported $840.298 million in assets, $688.550 million in deposits, $625.154 million in net loans and leases, and $85.419 million in equity capital. Net income for the six months ended June 30 was $3.129 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. [5]
Deposits equaled 81.9% of assets, and net loans and leases equaled 90.8% of deposits, calculated from the same report. Equity equaled 10.2% 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. [5]
Sources
- First Utah Bank: official history and service model; reviewed October 6, 2026SourceBack to text: ↑
- FDIC: First Utah Bank CRA performance evaluation, April 22, 2024Source · PDFBack to text: ↑1↑2↑3↑4
- First Utah Bank: CRA public-file annual statement, 2026–2027Source · PDFBack to text: ↑1↑2↑3
- First Utah Bank: production-homebuilder financing; reviewed October 6, 2026SourceBack to text: ↑1↑2
- 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↑5
- FDIC BankFind: First Utah Bank, certificate 22738; active Utah headquarters record reviewed October 6, 2026Official sourceBack to text: ↑
- Utah Department of Financial Institutions: institution directory, July 2026 workbookOfficial source