Safest Banks in Utah 2026
Utah has 41 FDIC-insured banks with an average Bank Health Score of 80/100 (A). The safest bank is Wells Fargo Trust Co NA with a score of 100/100.
Data from FDIC Q2 2024
41 Utah banks are ranked below by the BankHealth composite score. The composite weights Tier 1 capital ratio (35%), inverted non-performing loan ratio (30%), liquidity ratio (25%), and return on assets (10%) into a 0-100 grade.
Top-of-list banks combine strong capital with clean loan books and reasonable profitability. Bottom-of-list banks face pressure on one or more scoring factors — most often elevated NPL ratios or thin profitability margins. Each bank links to its full profile with multi-quarter trend charts, the four composite factor breakdowns, and the underlying FDIC Call Report data.
Utah's 41 FDIC-insured banks hold a combined $1.1T in assets. Their average Bank Health Score of 80/100 sits 0.0 points in line with the national average of 80/100. Across the state, 88% of banks earn an A or B grade for financial health, while 0% fall to a D or F.
The largest bank headquartered in Utah is Morgan Stanley Bank NA with $211.5B in assets and a Bank Health Score of 95/100. The strongest by score is Wells Fargo Trust Co NA in Ogden (100/100, Tier 1 capital 96.18%). The weakest is Continental Bank at 56/100, dragged down by an NPL ratio of 2.82%.
All scores below come from the latest FDIC BankFind Call Report (Q2 2024). The Bank Health Score weights Tier 1 capital ratio (35%), nonperforming loan ratio (30%), liquidity ratio (25%), and return on assets (10%) — the four metrics regulators watch most closely when judging whether a bank is well-capitalized. Every bank with FDIC insurance covers up to $250,000 per depositor per ownership category, but the score helps you tell apart banks that are comfortably well-capitalized from those operating closer to the line.
Top 3 Safest Banks in Utah
Wells Fargo Trust Co NA
Ogden, UT
Utah's top-rated bank, with a Tier 1 capital ratio of 96.18% — well above the federal "well-capitalized" threshold of 8%. Holds $1.4B in assets.
First Electronic Bank
Salt Lake City, UT
Second-strongest in the state on capital and loan quality. NPL ratio sits at 0.00% with $429M in total assets.
Holladay Bank&Trust
Salt Lake City, UT
Third in the rankings on the Bank Health Score. Liquidity ratio of 29.16% and ROA of 1.69%.
Top 20 of 41 Banks in Utah
| # | Bank | City | Grade | Score | Tier 1 Capital | NPL Ratio |
|---|---|---|---|---|---|---|
| 1 | Wells Fargo Trust Co NA | Ogden | A | 100 | 96.18% | 0.00% |
| 2 | First Electronic Bank | Salt Lake City | A | 100 | 62.24% | 0.00% |
| 3 | Holladay Bank&Trust | Salt Lake City | A | 98 | 17.52% | 0.07% |
| 4 | Optum Bank INC | Draper | A | 98 | 18.64% | 0.29% |
| 5 | Morgan Stanley Bank NA | Salt Lake City | A | 95 | 22.19% | 0.76% |
| 6 | Wex Bank | Sandy | A | 92 | 13.10% | 0.55% |
| 7 | Bmw Bank of North America | Salt Lake City | A | 92 | 15.20% | 0.17% |
| 8 | Brighton Bank | Salt Lake City | A | 91 | 11.97% | 0.00% |
| 9 | UBS Bank USA | Salt Lake City | A | 91 | 27.81% | 0.08% |
| 10 | Varo Bank National Assn | Draper | A | 90 | 20.90% | 0.00% |
| 11 | Bank of Utah | Ogden | A | 88 | 16.79% | 0.00% |
| 12 | Sallie Mae Bank | Salt Lake City | A | 88 | 13.40% | 0.81% |
| 13 | Lendingclub Bank NA | Lehi | A | 87 | 15.54% | 1.25% |
| 14 | Square Finl Services INC | Salt Lake City | A | 87 | 147.87% | 2.15% |
| 15 | Grand Valley Bank | Heber City | A | 86 | 10.32% | 0.02% |
| 16 | Pitney Bowes Bank INC | Salt Lake City | A | 86 | 10.81% | 0.41% |
| 17 | Webbank | Salt Lake City | A | 85 | 17.09% | 0.43% |
| 18 | Liberty Bank INC | Salt Lake City | A | 83 | 20.17% | 1.18% |
| 19 | Sofi Bank National Assn | Cottonwood Heigh | A | 83 | 16.96% | 0.15% |
| 20 | State Bank of Southern Utah | Cedar City | A | 81 | 10.45% | 0.54% |
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, Wells Fargo Trust Co NA in Ogden is currently the safest bank in Utah with a score of 100/100 (Grade A). It posts a Tier 1 capital ratio of 96.18% and a nonperforming loan ratio of 0.00%.
Utah has 41 FDIC-insured banks with a combined $1.1T in total assets. The average Bank Health Score across the state is 80/100 (Grade A).
Utah's average Bank Health Score of 80/100 is 0.0 points in line with the national average of 80/100. 88% of banks in Utah earn an A or B grade, compared with the national average grade of A.
Of 41 FDIC-insured banks headquartered in Utah, 21 earn an A, 15 a B, 5 a C, 0 a D, and 0 an F. The most common grade is A.
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. Every score uses the latest FDIC Call Report data.
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%).