Bank of Utah: how it compares with its peers
Against 10 UT banks with half to twice its assets, Bank of Utah's strongest measure in Q2 2026 is efficiency ratio (61.65% vs. a 42.44% peer median). Its weakest relative measure is return on assets (1.30% vs. 2.01%).
| Measure | Bank of Utah | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.30% | 2.01% | Bottom third Ahead of 10% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.53% | 5.50% | Bottom third Ahead of 10% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 61.65% | 42.44% | Bottom third Ahead of 20% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $8.9M | $12.1M | Bottom third Ahead of 10% of peers |
| Loans to deposits Net loans and leases over total deposits. | 99.24% | 94.17% | Context |
What it means for lending operations
Its efficiency ratio of 61.65% is above the 42.44% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- Cache Valley Bank Logan, UT · $3.49B
- Sunwest Bank Sandy, UT · $4.41B
- Nelnet Bank Draper, UT · $3.00B
- WebBank Salt Lake City, UT · $2.86B
- Medallion Bank Salt Lake City, UT · $2.83B
- State Bank of Southern Utah Cedar City, UT · $2.74B
Questions about Bank of Utah
How big is Bank of Utah?
Bank of Utah, established in 1952, is headquartered in Ogden, UT. It reported $3.79B in total assets in its Q2 2026 FDIC call report and operates 20 offices.
What is Bank of Utah's return on assets?
1.30% annualized in Q2 2026, against a 2.01% median for 10 UT banks with half to twice its assets, ahead of 10% of them.
What is Bank of Utah's efficiency ratio?
61.65% in Q2 2026: it spent about 62 cents in noninterest expense for each dollar of revenue. The peer median is 42.44%, and lower is better.
Is Bank of Utah growing its loans?
Net loans grew 4.4% over the year to Q2 2026, while deposits grew 5.3%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are UT banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Utah bank ranked.