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Q2 2026 · read from the 30 June 2026 Call Report · United States · Mountain West · Utah, the state note

First Utah Bank

Salt Lake City, Utah · $840M in assets · beside the 8 other Utah banks between $300M and $1B

The filing

6.39%
NPA / loans
9th of 9
0.2x
Coverage of noncurrent
9th of 9
290.1%
CRE / capital
9th of 9

First Utah Bank is the third largest of the 9 Utah banks between $300M and $1B, with $840M in assets at 30 June 2026. Loans are 92.1% of deposits, 6th of 9 against a median of 77.1%, and equity is 10.2% of assets, 6th of 9. Loans grew -4.3% in the year, 8th of 9, and deposits fell 3.1%; the cohort's median loan growth is +3.6%.

Noncurrent loans are 6.39% of the book, the highest in the cohort against a median of 0.44%; 1.08% is 30 to 89 days past due, and the allowance covers them 0.2 times. Net charge-offs are 1.07% of loans, 5th of 9. Commercial real estate is 39.3% of loans, 8th of 9 against a median of 9.6%, and 290% of capital, below the 300% screen, with construction at 86% against the 100% screen. CRE has grown +52.4% over 36 months, past the guidance's 50% prong.

Return on assets is 0.74%, 6th of 9 against a median of 1.15%, on an efficiency ratio of 61.2%, 6th of 9. Five years ago it was 1.62%. The question is where the nonperforming loans sit by category, and whether the allowance and the capital behind them hold under a loss path.

Nonperforming loans, share of loansUT banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median 0.44% FE First Electronic Bank 0.01% GV Grand Valley Bank 0.02% TB Thrivent Bank 0.26% VB Varo Bank National Association 0.42% PB Pitney Bowes Bank Inc 0.44% BB Brighton Bank 0.49% FB Finwise Bank 5.11% MB Milestone Bank 5.32% FU First Utah Bank 6.39%
Loans, year over yearUT banks $300M to $1B · 30 June 2026 · no better direction, largest first
median +3.6% FE First Electronic Bank +26.5% VB Varo Bank National Association +15.6% FB Finwise Bank +10.0% PB Pitney Bowes Bank Inc +6.9% TB Thrivent Bank +3.6% GV Grand Valley Bank +1.8% BB Brighton Bank -3.8% FU First Utah Bank -4.3% MB Milestone Bank -18.6%

SBA 7(a), FY2008 to FY2026

First Utah Bank is the 9th largest 7(a) lender into Utah of 235, with $267M across 349 loans, 3.7% of everything approved in the state (Zions Bank, A Division of leads with $814M). 39 of its 63 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Utah, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Salt Lake, UT$189M4th of 1646.2%-1.8 pts
Utah, UT$29M13th of 1352.0%+3.2 pts
Oakland, MI$12M31st of 1850.5%thin
Washington, UT$11M12th of 862.4%quiet FY2019
Davis, UT$10M19th of 1011.7%-1.0 pts
Lucas, OH$9M10th of 901.7%quiet FY2018
Fulton, GA$8M67th of 2110.3%thin
Coconino, AZ$8M15th of 782.3%+7.4 pts
Tooele, UT$7M6th of 515.5%quiet FY2021
Yavapai, AZ$7M17th of 891.7%thin
Collin, TX$6M93rd of 2610.2%thin
Middlesex, MA$5M54th of 1900.3%quiet FY2015
Wayne, MI$5M54th of 1640.3%thin
50 smaller markets not shown.
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Accommodation & food services100$144M37.0%0.19%115th of 2,596
Manufacturing62$47M12.1%0.12%151st of 2,246
Health care & social assistance30$30M7.8%0.06%194th of 2,172
Construction35$30M7.6%0.09%167th of 2,063
Wholesale trade25$23M6.0%0.09%171st of 1,651
7(a) lenders into Utah, share of approvals since FY2008235 lenders on record; the ten largest and First Utah Bank
ZB Zions Bank, A Division of 11.2% $814M · 5,725 loans MA Mountain America FCU 7.4% $538M · 3,076 loans CB Community Banks of Colorado, A Di… 5.5% $399M · 434 loans CB Celtic Bank Corporation 5.3% $386M · 660 loans AF America First Federal Credit Union 5.1% $374M · 905 loans WF Wells Fargo Bank National Associa… 5.0% $363M · 1,135 loans LO Live Oak Banking Company 4.3% $315M · 237 loans UB U.S. Bank, National Association 4.0% $293M · 1,066 loans FU First Utah Bank 3.7% $267M · 349 loans GB Glacier Bank 3.6% $261M · 610 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 7 CBLR filers, First Utah Bank among them; owner-occupied excluded; bold marks a screen met
First Utah BankRankCohort median
Total CRE against capital, the 300% screen290%9th of 944%
Construction against capital, the 100% screen86%8th of 937%
Construction and land development, share of loans11.6%7th of 98.0%
Non-owner-occupied nonfarm nonresidential, share of loans25.5%9th of 91.1%
Total CRE, the guidance definition, share of loans39.3%8th of 99.6%
CRE growth over 36 months, the third prong+52.4%4th of 6+48.7%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Finwise Bank$915M1.5%56.8%5.11%6.10%6.4%102.0%17.9%
Thrivent Bank$906M-1.4%135.5%0.26%0.28%0.5%104.8%36.7%
First Utah Bank$840M0.7%61.2%6.39%1.07%1.5%92.1%10.2%
Pitney Bowes Bank Inc$796M5.4%32.0%0.44%1.25%1.7%69.5%9.7%
Grand Valley Bank$599M1.2%60.4%0.02%0.01%1.9%53.0%9.2%
First Electronic Bank$503M8.8%45.9%0.01%0.08%0.6%71.6%39.4%
Milestone Bank$342M0.7%59.6%5.32%3.67%2.4%104.7%15.6%
Varo Bank National Association$338M-27.1%138.2%0.42%29.82%10.0%46.3%20.4%
Brighton Bank$322M1.9%62.1%0.49%0.00%1.2%77.1%10.1%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
First Utah BankCohort median
20212026Change20212026Change
Loans$421M$634M+51%$198M$296M+50%
Deposits$555M$689M+24%$228M$541M+138%
NPA / loans1.17%6.39%+5.22 pts0.33%0.44%+0.11 pts
Efficiency52.6%61.2%+8.5 pts54.8%60.4%+5.6 pts
ROA1.62%0.74%-0.87 pts2.26%1.15%-1.11 pts

This read was prepared for First Utah Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on First Utah Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort UT banks $300M to $1B
Institution www.firstutahbank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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