A Salina bank added communities rather than a national platform
The FDIC records August 29, 1977 as Utah Independent Bank’s establishment date. The bank is headquartered in Salina, with offices in Beaver, Monroe and Milford documented in its November 2025 Federal Reserve examination. This is an independently owned local institution, according to its November 2025 Federal Reserve examination, rather than a Utah office of a similarly named national group. [1][2][6]
The most recent office addition documented in that examination was Milford, which opened on January 2, 2020. By November 2025 the bank had four offices in the four named communities. Its footprint follows towns whose business needs include agriculture, construction and local services; it does not resemble the nationwide distribution model of Utah's larger online banks. [2]
Farm and business finance shape the daily work
The bank's applications page includes agricultural and livestock credit forms, a farm budget and cash-flow form, mortgage applications and consumer credit applications. These are concrete indications of the types of financial relationships it handles. A farm's operating needs, for example, can precede the season in which its products generate income, making the timing of receipts important alongside the value of collateral. That is an explanation of the lending mechanism, not a statement about a particular customer's finances. [3]
The Federal Reserve described a product range that included secured and unsecured working-capital lines, construction and land-development loans, equipment finance, commercial real estate and business checking. Household services included deposit accounts, vehicle credit and residential property loans. At September 30, 2025, its examination grouped commercial and industrial credit with nonfarm nonresidential property loans at 43.4% of gross loans, followed by construction and land development at 19.6%, residential mortgages at 18.1%, and farmland and agricultural loans at 14.0%. Those categories and that date should not be substituted for the newer FDIC figures below. [2]
A small bank can have a substantial local presence
The examination's community assessment covered Beaver and Sevier counties. Using June 2024 deposit data, examiners reported a 22.3% local deposit share, ranking the bank second among four institutions in that defined market. This is not a statewide ranking. It illustrates why a bank with a relatively small statewide balance sheet can still be meaningful to the communities around its offices. [2]
A community representative interviewed for the examination identified operating and expansion capital for small businesses as important local needs. Examiners also noted that the area's business population was dominated by companies with annual revenue of $1 million or less. Those observations help explain the institution's focus on smaller commercial relationships; they do not establish that every local demand for credit was met. [2]
The 2025 review found strengths and geographic limitations
The November 3, 2025 CRA evaluation assigned a Satisfactory rating. Its loan sample contained 55 small-business loans and 52 small-farm loans from specified portions of 2024 and 2025. Of the combined sample, 76.6% by number and 77.7% by dollars were within the assessment area. This is an examination sample, not the share of the entire loan book located in those counties. [2]
The result also carried nuance. Lending in the area's single moderate-income census tract lagged some comparison measures. Examiners reduced the weight of geographic distribution because the bank lacked an office in that tract and faced nearby competitors, including an agricultural specialist. They nevertheless judged its overall geographic distribution reasonable. The report concerns community-credit performance and explicitly does not provide a safety-and-soundness opinion. [2]
Digital access supplements the four-office network
UIB's online-services page offers mobile access, bill payments and electronic statements. Its current service model therefore includes remote access alongside staffed branches. Those tools can make routine transactions possible away from an office, while the bank's agricultural and business application forms still emphasize the information needed for an individual credit decision. Neither source discloses how many customers use each channel or the cost of serving them. [3][4]
At June 30, 2026, the FDIC data recorded $92.570 million in real-estate-secured loans, $18.733 million in commercial and industrial loans and $4.586 million in consumer loans. were $2.203 million. First-half net were negative $42,000, meaning recoveries exceeded charge-offs during that period. This does not mean the bank had no troubled loans: the noncurrent balance and realized net losses describe different stages of credit performance. [5]
The bank at midyear 2026
At June 30, 2026, Utah Independent Bank reported $170.869 million in assets, $143.194 million in deposits, $119.657 million in net loans and leases, and $25.832 million in equity capital. Net income for the six months ended June 30 was $2.828 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 83.8% of assets, and net loans and leases equaled 83.6% of deposits, calculated from the same report. Equity equaled 15.1% 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
- Utah Independent Bank: official contact and location information; reviewed October 6, 2026SourceBack to text: ↑
- Federal Reserve Bank of San Francisco: Utah Independent Bank CRA evaluation, November 3, 2025, in public fileSourceBack to text: ↑1↑2↑3↑4↑5↑6↑7↑8
- Utah Independent Bank: agricultural, livestock, business and mortgage applicationsSourceBack to text: ↑1↑2
- Utah Independent Bank: online services; 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
- FDIC BankFind: Utah Independent Bank, certificate 22514; active Utah headquarters record reviewed October 6, 2026Official sourceBack to text: ↑
- Utah Department of Financial Institutions: institution directory, July 2026 workbookOfficial source