CRA Public File

Established by Congress in 1977, the Community Reinvestment Act encourages banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. The CRA requires that banks' efforts be evaluated periodically, and the report be publicized.

Bank of Utah received a rating of “Satisfactory” in its most recent CRA Performance Evaluation, which spans Jan. 21, 2021 through April 25, 2022. The rating reflects the Bank’s commitment and responsiveness to the communities it serves.

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2023 CRA Highlights

Bank of Utah is focused on restoring local jobs, creating economic opportunity and investing in our great state.

Overall, lending levels during the review period reflected excellent responsiveness to credit needs in local communities. The Bank extended 30 community development loans totaling $358 million.

The Bank continues to focus its time and energy to help address housing affordability in Utah. Loans helped finance the development or rehabilitation of affordable housing, which was identified as a critical need in the CRA. Many of the Bank’s loans also provided infrastructure, including water treatment facilities and improvement of power lines in rural areas. These types of loans support job creation and retention for individuals in those areas.

Since 1952, Bank of Utah has been deeply committed to empowering our communities and our neighbors. For 2023, Bank employees provided 832 service hours to 43 organizations, including Family Promise of Ogden, Junior Achievement, YCC Family Crisis Center, Weber-Morgan Children's Justice Center and many more. During these volunteer opportunities, employees addressed a number of community needs by offering financial literacy information, assisting nonprofits that support victims of abuse, and serving organizations that provide job skills training and essential services to low- and moderate-income families.

Bank of Utah’s CRA investment goal is 5 percent of the total investment portfolio. The year 2023 ended with a total outstanding CRA investment of $50,629, or 14.19 percent of total investments, 1.75 percent of assets and 13.36 percent of capital. The Bank is generous with donations within the communities it serves. In 2023, the Bank donated $245,396 to nonprofit organizations within those communities.