Safest Banks in Utah 2026
Utah has 41 FDIC-insured banks with an average Bank Health Score of 69/100 (B). The safest bank is First Electronic Bank with a score of 100/100.
Data from FDIC Q2 2024
Top 20 of 41 Banks in Utah
| # | Bank | City | Grade | Score | Tier 1 Capital | NPL Ratio |
|---|---|---|---|---|---|---|
| 1 | First Electronic Bank | Salt Lake City | A | 100 | 62.24% | 0.00% |
| 2 | Optum Bank INC | Draper | A | 98 | 18.64% | 0.29% |
| 3 | Morgan Stanley Bank NA | Salt Lake City | A | 95 | 22.19% | 0.76% |
| 4 | Wex Bank | Sandy | A | 92 | 13.10% | 0.55% |
| 5 | Bmw Bank of North America | Salt Lake City | A | 92 | 15.20% | 0.17% |
| 6 | UBS Bank USA | Salt Lake City | A | 91 | 27.81% | 0.08% |
| 7 | Bank of Utah | Ogden | A | 88 | 16.79% | 0.00% |
| 8 | Sallie Mae Bank | Salt Lake City | A | 88 | 13.40% | 0.81% |
| 9 | Lendingclub Bank NA | Lehi | A | 87 | 15.54% | 1.25% |
| 10 | Square Finl Services INC | Salt Lake City | A | 87 | 147.87% | 2.15% |
| 11 | Webbank | Salt Lake City | A | 85 | 17.09% | 0.43% |
| 12 | Liberty Bank INC | Salt Lake City | A | 83 | 20.17% | 1.18% |
| 13 | Sofi Bank National Assn | Cottonwood Heigh | A | 83 | 16.96% | 0.15% |
| 14 | American Express Nb | Sandy | B | 79 | 11.39% | 0.67% |
| 15 | Cache Valley Bank | Logan | B | 77 | 12.62% | 0.22% |
| 16 | Zions Bcorp N A | Salt Lake City | B | 77 | 10.55% | 0.46% |
| 17 | Capital Community Bank | Provo | B | 75 | 16.45% | 2.01% |
| 18 | First Utah Bank | Salt Lake City | B | 73 | 11.99% | 1.46% |
| 19 | Sunwest Bank | Sandy | B | 71 | 9.60% | 0.36% |
| 20 | Synchrony Bank | Draper | B | 70 | 13.17% | 2.24% |
Bank Health Scores for Utah are calculated from FDIC Call Report data including Tier 1 capital ratios, nonperforming loan ratios, liquidity ratios, and return on assets.
Frequently Asked Questions
Based on our Bank Health Score analysis of FDIC data, First Electronic Bank in Salt Lake City is currently the safest bank in Utah with a score of 100/100 (Grade A).
Utah has 41 FDIC-insured banks with a combined $1.1T in total assets. The average Bank Health Score across the state is 69/100.
The Bank Health Score (0-100) is based on four FDIC-reported metrics: Tier 1 capital ratio (35% weight), nonperforming loan ratio (30%), liquidity ratio (25%), and return on assets (10%). Higher scores indicate stronger financial health.
Bank Health Scores are computed from quarterly FDIC Call Report data. Tier 1 capital ratio (35%), nonperforming loan ratio (30%), liquidity ratio (25%), and return on assets (10%).