State Bank of Southern Utah
Cedar City, Utah · $2.74B in assets · beside the 10 other Utah banks between $1B and $3B
The filing
State Bank of Southern Utah is the fourth largest of the 11 Utah banks between $1B and $3B, with $2.74B in assets at 30 June 2026. Loans are 80.3% of deposits, 4th of 10 against a median of 91.2%, and equity is 11.4% of assets, 8th of 11. Loans grew +4.6% in the year, 8th of 10, and deposits grew 5.9%; the cohort's median loan growth is +22.1%.
Noncurrent loans are 0.47% of the book, 3rd of 10 against a median of 0.59%; 0.10% is 30 to 89 days past due, and the allowance covers them 2.6 times. Net charge-offs are 0.26% of loans, 3rd of 10. Commercial real estate is 52.0% of loans, the highest in the cohort against a median of 13.0%, and 306% of capital, above the 300% screen, with construction at 96% against the 100% screen. CRE has grown +55.8% over 36 months, past the guidance's 50% prong.
Return on assets is 1.73%, 9th of 11 against a median of 2.16%, on an efficiency ratio of 46.1%, 8th of 11. Five years ago it was 1.54%. The question is what the concentration does under a commercial real estate stress, and how much of it is owner-occupied (owner-occupied nonresidential is 17.7% of loans).
SBA 7(a), FY2008 to FY2026
State Bank of Southern Utah is the 19th largest 7(a) lender into Utah of 235, with $102M across 603 loans, 1.4% of everything approved in the state (Zions Bank, A Division of leads with $814M). 8 of its 18 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.
| County | Approved | Rank | Share | Trend |
|---|---|---|---|---|
| Washington, UT | $37M | 3rd of 86 | 8.5% | -4.9 pts |
| Iron, UT | $34M | 1st of 38 | 32.3% | -29.5 pts |
| Sevier, UT | $12M | 1st of 25 | 26.4% | -7.1 pts |
| Garfield, UT | $5M | 1st of 14 | 20.0% | +18.7 pts |
| Kane, UT | $5M | 2nd of 12 | 21.9% | thin |
| Wayne, UT | $3M | 2nd of 11 | 18.1% | quiet FY2020 |
| Sanpete, UT | $3M | 4th of 24 | 6.8% | -62.5 pts |
| Coconino, AZ | $2M | 38th of 78 | 0.5% | quiet FY2018 |
| Millard, UT | $1M | 7th of 15 | 3.6% | +19.0 pts |
| Clark, NV | $484K | 178th of 229 | 0.0% | thin |
| Davis, UT | $355K | 84th of 101 | 0.1% | quiet FY2021 |
| Beaver, UT | $260K | 10th of 15 | 1.5% | quiet FY2013 |
| Lincoln, NV | $250K | 3rd of 5 | 5.4% | quiet FY2008 |
| Industry | Loans | Approved | Share of book | Share of sector | Rank |
|---|---|---|---|---|---|
| Accommodation & food services | 59 | $16M | 15.7% | 0.02% | 429th of 2,596 |
| Construction | 90 | $16M | 15.1% | 0.05% | 278th of 2,063 |
| Retail trade | 79 | $16M | 14.9% | 0.03% | 366th of 2,589 |
| Manufacturing | 49 | $12M | 11.2% | 0.03% | 418th of 2,246 |
| Professional & technical services | 30 | $7M | 6.8% | 0.02% | 354th of 1,955 |
Commercial real estate against capital
| State Bank | Rank | Cohort median | |
|---|---|---|---|
| Total CRE against capital, the 300% screen | 306% | 11th of 11 | 24% |
| Construction against capital, the 100% screen | 96% | 10th of 11 | 0% |
| Construction and land development, share of loans | 16.3% | 9th of 10 | 1.1% |
| Non-owner-occupied nonfarm nonresidential, share of loans | 30.4% | 10th of 10 | 5.1% |
| Total CRE, the guidance definition, share of loans | 52.0% | 10th of 10 | 13.0% |
| CRE growth over 36 months, the third prong | +55.8% | 6th of 9 | +36.5% |
Among its peers
| Institution | Assets | ROA | Efficiency | NPA / loans | Net charge-offs | Allowance / loans | Loans / deposits | Equity / assets |
|---|---|---|---|---|---|---|---|---|
| $3.00B | 1.1% | 37.6% | 2.17% | 0.59% | 1.7% | 65.7% | 15.5% | |
| $2.86B | 4.8% | 63.3% | 0.51% | 0.40% | 1.0% | 107.5% | 16.7% | |
| $2.83B | 2.2% | 27.7% | 0.45% | 2.76% | 4.2% | 116.0% | 15.9% | |
| $2.74B | 1.7% | 46.1% | 0.47% | 0.26% | 1.2% | 80.3% | 11.4% | |
| $2.16B | 2.0% | 49.1% | 0.47% | 0.14% | 3.2% | 76.8% | 14.8% | |
| $2.06B | 33.7% | 15.4% | 0.67% | 12.31% | 7.6% | 249.0% | 65.8% | |
| $1.77B | 5.0% | 38.9% | 0.06% | -0.24% | 0.6% | 23.4% | 9.9% | |
| $1.59B | 1.1% | 61.1% | 1.79% | 2.23% | 1.5% | 90.9% | 11.3% | |
| $1.56B | 5.2% | 32.4% | 2.54% | 5.93% | 3.9% | 96.7% | 14.1% | |
| $1.33B | 2.0% | 3.9% | no record | no record | no record | no record | 95.6% | |
| $1.09B | 3.4% | 20.6% | 1.60% | 1.33% | 2.9% | 91.5% | 10.7% |
| State Bank | Cohort median | |||||
|---|---|---|---|---|---|---|
| 2021 | 2026 | Change | 2021 | 2026 | Change | |
| Loans | $1.02B | $1.92B | +88% | $432M | $1.36B | +216% |
| Deposits | $1.73B | $2.40B | +39% | $411M | $1.53B | +272% |
| NPA / loans | 0.67% | 0.47% | -0.20 pts | 0.33% | 0.59% | +0.26 pts |
| Efficiency | 46.0% | 46.1% | +0.2 pts | 51.9% | 37.6% | -14.3 pts |
| ROA | 1.54% | 1.73% | +0.19 pts | 1.89% | 2.16% | +0.27 pts |
This read was prepared for State Bank of Southern Utah'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 State Bank of Southern Utah is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.
Ask for the packPrepared 7 September 2026
Filing 30 June 2026
Cohort UT banks $1B to $3B
Institution www.sbsu.com
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