Bank of Utah

{{Short description|none}}
{{Infobox company
<!-- Basic info  ---------------->
 | name             = Bank of Utah
 | logo             = Bank_of_Utah_logo.jpg
 | image            = Bank of Utah Corporate.jpg
 | image_caption    = Bank of Utah corporate offices [[Ogden, Utah|Ogden]], [[Utah]]
 | founded          = {{Start date and years ago|1952|12|1|mf=y}}
 | founder          = 
 | location         = [[Ogden, Utah|Ogden]], [[Weber County, UT|Weber County]], [[Utah]]
 | key_people       = Frank W. Browning <small>([[Chairman of the Board|Chairman]])</small><br> Branden P. Hansen <small>([[President (corporate title)|President]])</small>
 | industry         = [[Bank]]ing
 | products         = [[Financial services]]
 | num_employees    = 400+ (2024)
 | divisions        = Personal Banking<br> Home Loans<br> Business Banking<br> Treasury Management<br> Commercial Loans<br> Wealth Management<br> Private Banking<br> Personal Trust<br> Corporate Trust
|homepage         = {{URL|https://www.bankofutah.com|BankofUtah.com}}
}}
'''Bank of Utah''' is a federally-insured community [[bank]], with corporate headquarters in [[Ogden, Utah|Ogden]], [[Utah]].  It is a member of the Utah Bankers Association (UBA),<ref>{{cite web|url=https://www.utah.bank/membership/banks|title=UBA Bank Directory|publisher=UBA}}</ref> the [[American Bankers Association]] (ABA), and the [[Federal Deposit Insurance Corporation]] (FDIC).<ref>{{cite web|url=https://banks.data.fdic.gov/bankfind-suite/bankfind/details/17159|title=FDIC Bank Directory|publisher=FDIC}}</ref>  Branden P. Hansen is president of Bank of Utah, as of January 2023.<ref>{{cite web|url=https://www.utahbusiness.com/bank-of-utah-leadership-changes|title=Bank of Utah announces changes in leadership titles and roles|date=10 December 2020 |publisher=Utah Business. 10 Dec 2022.}}</ref>

The company ended 2023 with just over $2.9 billion in assets, which places it in the top 10 percent of banks in the nation for total assets.<ref>{{cite web|url=https://www.usbanklocations.com/bank-rank/total-assets.html|title=Banks Ranked by Total Assets|publisher=U.S. Bank Locations.com}}</ref> 

Bank of Utah has just over 400 employees at 18 full-service branches throughout Utah, additional trust offices in Ogden and Salt Lake City, and additional mortgage offices in Logan, Price and St. George.<ref>{{cite web|url=https://members.ogdenweberchamber.com/list/member/bank-of-utah-409|title=Membership Directory|publisher=Ogden Weber Chamber of Commerce}}</ref><ref>{{cite web|url=https://business.slchamber.com/list/member/bank-of-utah-salt-lake-city-4220|title=Membership Directory|publisher=Salt Lake Chamber of Commerce}}</ref><ref>{{cite web|url=http://business.cachechamber.com/list/member/bank-of-utah-logan-logan-58|title=Membership Directory|publisher=Cache Valley Chamber of Commerce}}</ref><ref>{{cite web|url=https://web.carboncountychamber.net/Finance-Insurance/Bank-of-Utah-143|title=Membership Directory|publisher=Carbon County Chamber of Commerce}}</ref><ref>{{cite web|url=https://business.stgeorgechamber.com/list/member/bank-of-utah-4024|title=Membership Directory|publisher=St. George Chamber of Commerce}}</ref><ref>{{cite web|url=https://business.davischamberofcommerce.com/list/member/bank-of-utah-layton-branch-5184|title=Membership Directory|publisher=Davis Chamber of Commerce}}</ref><ref>{{cite web|url=https://thechamber.org/businesses/bank-of-utah-main/|title=Membership Directory|publisher=Utah Valley Chamber of Commerce}}</ref> 

==History==
Ogden businessman Frank M. Browning founded Bank of Utah on Dec. 1, 1952, with 16 employees and less than $1 million in assets. Today, the bank remains locally owned and operated, and the Browning family remains involved in the bank with Frank W. Browning as chairman of the board, Benjamin F. Browning as vice chairman of the board and CEO, and Jonathan W. Browning as secretary to the board.

Historically, 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.<ref>{{cite web|url=https://www.standard.net/|title=First With Most in Banking & Still Offering More|publisher=Standard-Examiner, Oct. 12, 1975, Advertising Supplement.}}</ref>

Since its creation, Bank of Utah has acquired the following banks: 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).<ref>{{cite news|title=Bank of Utah to Acquire American Bank of Commerce|url=https://web.archive.org/web/20180914215253/https:/utahbusiness.com/bank-of-utah-to-acquire-american-bank-of-commerce/|work=Utah Business|date=14 Sep 2018|access-date=14 Sep 2018|archive-url=https://utahbusiness.com/bank-of-utah-to-acquire-american-bank-of-commerce| archive-date=14 Sep 2018}}</ref>

==Business==
===Personal Banking===
Offering checking accounts, savings accounts, certificates of deposits (CDs), individual retirement accounts (IRA) and personal health savings accounts (HSA).

===Business Banking===
Offering checking and savings accounts, debit and credit cards, treasury management services and merchant services. 

===Home Loans===
Offering a variety of financing for homebuyers and homeowners, including loans to buy a home, build a home or purchase a lot; options to refinance an existing home loan; home equity lines of credit; and reverse mortgages. 

===Consumer and Personal Lending===
Offering financing to make special purchases, cover expenses or consolidate debt, including  auto loans, RV loans, CD- and savings-secured loans, and unsecured loans.

===Commercial Lending===
Offering commercial real estate loans, business lines of credit and equipment loans to businesses.

===Personal Trust and Investments===
Services offered include: fiduciary services, investment management and self-directed IRAs

===Corporate Trust===
Offering a broad spectrum of services, including escrows, owner trusts, security trusts, indenture trusts, life settlements, paying agent and collateral agent roles. The bank is one of the largest providers of aircraft owner trusts in the world, a commonly used, [[Federal Aviation Administration]]-compliant method of registering aircraft in the U.S.<ref>{{cite news|title=What Are Non-Citizen Trusts? A Routine, Well-Regulated Way to Register Aircraft|url=https://www.nbaa.org/admin/registration/non-citizen-trusts/what-are-non-citizen-trusts-a-routine-well-regulated-way-to-register-aircraft.php|work=National Business Aviation Association|date=30 Nov 2017|access-date=4 December 2017|archive-url=https://web.archive.org/web/20171206005748/https://www.nbaa.org/admin/registration/non-citizen-trusts/what-are-non-citizen-trusts-a-routine-well-regulated-way-to-register-aircraft.php|archive-date=6 December 2017|url-status=dead}}</ref>

==References==
{{Reflist|1}}

{{commons category}}

[[Category:Companies based in Ogden, Utah]]
[[Category:Banks established in 1952]]
[[Category:1952 establishments in Utah]]
[[Category:Banks based in Utah]]