We understand that many questions will arise from the news that Bank of Utah plans to acquire AmBank. These questions surround the availability of products, services, customer service and relationships with AmBank employees.
This web page is designed to answer many of common questions regarding the purchase. Throughout the coming weeks and months, more will be added to this page. If this list doesn't address your question, feel free to reach out to an AmBank representative, visit www.MyAmBank.com or call 801-377-4222. You may also call Bank of Utah at 801-409-5000.
When will AmBank officially convert to Bank of Utah?
The purchase is subject to regulatory approvals and customary closing conditions, but we expect the transaction to close in fourth quarter 2018.
How will this affect the banking experience for customers?
Until the transaction is complete, Bank of Utah and AmBank will remain separate entities. Accounts and loans will stay with each separate bank until the conversion is final. Normal banking activities can continue as we move forward in the transition.
The combination of banks will expand the products and services available to AmBank customers, including personal and business banking, home loans and commercial lending, private banking, trusts, insurance and investment services.
Will AmBank locations remain open?
Yes, AmBank’s three branches will remain open, allowing employee and customer relationships to continue. After approval, the three locations will combine with Bank of Utah’s existing network of branches, giving all customers access to 17 full-service branches from Logan to Provo. Bank of Utah also has four mortgage offices located in St. George, Price, Logan and Sandy; and two trust teams in Ogden and Salt Lake City. Find a Branch
Will AmBank employees remain employed after the transaction?
Bank of Utah looks forward to having AmBank’s talented employees on its team.
Is Bank of Utah committed to the local community that AmBank currently serves?
Like AmBank, Bank of Utah started in Utah and remains rooted in Utah. Bank of Utah employees are dedicated to local service as a hometown bank and devoted to giving back to the local communities they serve through financial and volunteer support.