Bank of Utah


Bank of Utah is a federally-insured community bank, with corporate headquarters in Ogden, Utah. It is part of the Utah Bankers Association, the American Bankers Association, and the Federal Deposit Insurance Corporation. Douglas L. DeFries has been president of Bank of Utah since January 2011.
As of September 2018, the company held just over $1.3 billion in assets with over 350 employees. Bank of Utah opened its latest branch in Bountiful, Utah and added three more branches in Provo, Lindon and Heber City through the purchase of American Bank of Commerce.. The bank currently has 20 locations across Utah - including 17 full-service branches along the Wasatch Front and three mortgage-only offices throughout Utah.

History

Bank of Utah opened its doors for business on December 1, 1952 by an Ogden businessman named Frank M. Browning, and remains locally owned and operated. Mr. Browning formed Bank of Utah to create a financial institution based on "relationship banking." The bank started with 16 employees and less than $1 million in assets. Since its creation, Bank of Utah has acquired the following banks: Bank of Ben Lomond, Bank of Brigham City, Bank of Northern Utah, First Commerce Bank and American Bank of Commerce .

Business

The bank manages nearly 1,400 aircraft trust accounts.

Advances

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.