A local beginning developed into a national lending network
Prime Alliance Bank began in 2004 in Woods Cross, Utah. Its current company description pairs local commercial lending with national leasing, rather than describing a network of neighborhood branches. The FDIC's May 27, 2025 examination confirms that the institution operated from a single office, was not owned by a holding company, and had not opened or closed branches or undertaken a merger since the preceding evaluation. [1][2]
The legal bank, FDIC certificate 57920, was established on December 8, 2004. Its published 2022–2026 strategic plan described a shareholder-owned Subchapter S corporation. That is a tax and ownership-structure description at the time of the plan, not a public stock listing. The newer examination's statement that it had no bank holding company helps keep the bank's own financial results separate from assumptions about a larger parent group. [2][6]
Equipment finance arrives through other businesses
The 2025 FDIC evaluation describes commercial and industrial borrowers as Prime Alliance's primary business, including nationwide equipment leases sourced through brokers and commercial lenders. Its strategic plan explains that the bank developed relationships with independent leasing companies and used those connections to purchase equipment-leasing transactions. It also describes a network supplying SBA, property and other business-loan opportunities. [2]
A local branch is therefore not the only place where the bank's lending relationships originate. Equipment vendors, brokers and specialist finance companies can connect a customer with funding that ultimately sits on the bank's balance sheet. The distinction is important: national reach can come from financial relationships rather than from opening an office in every state. The public disclosures do not provide a current partner-by-partner concentration or loss history. [2]
Leases and business loans are separate accounting categories
At March 31, 2025, the examination reported $710.641 million in total loans, with commercial and industrial loans accounting for 61.4%, lease-financing receivables 31.9%, and real-estate-secured credit 6.7%. The equipment focus therefore does not appear solely in a line labeled leases. Different financing contracts can be recorded in different categories even when the underlying business purpose is acquiring equipment. [2]
The current commercial-products page offers equipment leases, lease lines, property loans and revolving business credit. These structures serve different purposes and repayment patterns. A lease finances use of equipment over an agreed term; a revolving line can support repeated working-capital needs. The bank's marketing descriptions of tax or balance-sheet benefits are not used here as universal outcomes, because the treatment depends on the actual contract and customer. [3]
Depositors can reach the bank without visiting Woods Cross
Prime Alliance offers consumer and business deposits even though the 2025 examination says it does not offer consumer lending. Its personal-savings page provides online account opening, mobile banking and check deposits through an app. This creates an important distinction between household deposit customers and commercial borrowers: a person can save at the bank without the bank operating a consumer-loan business. [2][4]
At June 30, 2026, reported consumer loans remained zero, while commercial and industrial loans were $576.550 million and real-estate-secured loans were $33.771 million. The selected FDIC extract does not include a separate lease-receivables field, so these categories are not a complete breakdown of the bank's $858.592 million net loan-and-lease balance. [5]
The local community review reflects that unusual footprint
Prime Alliance operated under an FDIC-approved CRA strategic plan during the 2022–2024 years evaluated in May 2025. The examination assigned an overall Satisfactory rating. It found that the bank exceeded several Outstanding goals for community-development loans and investments and for geographic distribution, while meeting Satisfactory borrower-profile goals in all three years. [2]
The review also recorded shortfalls: community-development donations missed the 2023 minimum goal, and service hours missed the 2022 minimum. These findings belong alongside the favorable results. A CRA strategic plan translates the institution's business model into measurable community-credit goals; the examination is not a financial-condition assessment or a guarantee of the value of its national equipment portfolio. [2]
The June 2026 financial report showed $14.133 million in and $5.897 million of net for the first half. Those figures describe a stock of troubled balances and a flow of realized net losses respectively. Without matched earlier periods or program-level disclosures, they do not establish the source or direction of credit performance. [5]
The bank at midyear 2026
At June 30, 2026, Prime Alliance Bank reported $1.086 billion in assets, $966.101 million in deposits, $858.592 million in net loans and leases, and $116.528 million in equity capital. Net income for the six months ended June 30 was $18.276 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 89.0% of assets, and net loans and leases equaled 88.9% of deposits, calculated from the same report. Equity equaled 10.7% 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
- Prime Alliance Bank: official company description; reviewed October 6, 2026SourceBack to text: ↑
- Prime Alliance Bank public file: 2022–2026 strategic plan and FDIC CRA evaluation dated May 27, 2025Source · PDFBack to text: ↑1↑2↑3↑4↑5↑6↑7↑8
- Prime Alliance Bank: commercial loans and equipment lease structuresSourceBack to text: ↑
- Prime Alliance Bank: personal savings and digital servicing; 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: Prime Alliance Bank, certificate 57920; active Utah headquarters record reviewed October 6, 2026Official sourceBack to text: ↑
- Utah Department of Financial Institutions: institution directory, July 2026 workbookOfficial source