Ogden, Utah, March 21, 2013
National Independent Bank Rating Firm Gives Bank of Utah a Five-Star Ranking for Financial Strength
The nation’s leading independent bank rating and research firm, BauerFinancial Inc., recently gave Bank of Utah a five-star superior rating, its highest rank. The rating is based on the bank’s overall financial picture and indicates, according to Bauer, that Bank of Utah is one of the strongest banks in the nation.
“We are very pleased with the Bauer recognition,” said Bank of Utah President Douglas L. DeFries. “The bank has been laser-focused on achieving some “key results” that included growth, and improved profitability, credit quality, customer service and loyalty. Targeting these key areas has served us well and we anticipate that we’ll continue to improve as we move forward in 2013.
DeFries reported that Bank of Utah’s current capital levels have never been higher, and during the economic downturn over the past five years, Bank of Utah never experienced a losing quarter.
“We thank our loyal customers, investors and employees for supporting our local community bank,” added Defies. “We’re honored to continue to provide our customers with a very sound and safe haven for their hard-earned money.”
Bank of Utah, which recently marked 60 years in business, was founded and organized by Frank M. Browning, an Ogden business executive. The bank officially opened for business on December 1, 1952 with 16 employees, and has grown to over 300 employees and $750 million in assets. The bank currently has 13 full-service branches along the Wasatch Front, mortgage offices in South Towne, Price, Logan, St. George and South Jordan and corporate trust teams in Ogden and Salt Lake City. Bank of Utah offers personal banking, business banking, home lending, trust management and investment services. For more information call 1-800-516-5559 or visit www.bankofutah.com.
About BauerFinancial, Inc.
BAUERFINANCIAL, INC., Coral Gables, Florida, the nation’s leading independent bank rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays for its rating, or can they elude it. Consumers may obtain star-ratings by visiting www.bauerfinancial.com.