First Utah Bank: how it compares with its peers
Against 9 UT banks with half to twice its assets, First Utah Bank's strongest measure in Q2 2026 is assets per employee ($7.6M vs. a $6.1M peer median). Its weakest relative measure is return on assets (0.74% vs. 2.03%).
| Measure | First Utah Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 0.74% | 2.03% | Bottom third Ahead of 11% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.50% | 6.60% | Bottom third Ahead of 22% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 61.17% | 45.91% | Bottom third Ahead of 11% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $7.6M | $6.1M | Top third Ahead of 75% of peers |
| Loans to deposits Net loans and leases over total deposits. | 90.79% | 89.20% | Context |
What it means for lending operations
Its efficiency ratio of 61.17% is above the 45.91% 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
- The Pitney Bowes Bank, Inc. Salt Lake City, UT · $796M
- Thrivent Bank Salt Lake City, UT · $906M
- FinWise Bank Murray, UT · $915M
- Grand Valley Bank Heber City, UT · $599M
- Prime Alliance Bank Woods Cross, UT · $1.09B
- First Electronic Bank Salt Lake City, UT · $503M
Questions about First Utah Bank
How big is First Utah Bank?
First Utah Bank, established in 1978, is headquartered in Salt Lake City, UT. It reported $840M in total assets in its Q2 2026 FDIC call report and operates 7 offices.
What is First Utah Bank's return on assets?
0.74% annualized in Q2 2026, against a 2.03% median for 9 UT banks with half to twice its assets, ahead of 11% of them.
What is First Utah Bank's efficiency ratio?
61.17% in Q2 2026: it spent about 61 cents in noninterest expense for each dollar of revenue. The peer median is 45.91%, and lower is better.
Is First Utah Bank growing its loans?
Net loans shrank 4.5% over the year to Q2 2026, while deposits shrank 3.1%.
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.