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Utah: Banks’ Economic Impact

Banks support Utah's economy with consumer, business and other loans, and by providing more than 30,000 people with a rewarding place to work.

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  • 30,810Employees

  • $3.2 BTotal Annual Compensation & Benefits

  • $104,914Average Total Compensation & Benefits

  • 43 Banks Headquartered in State

Helping Women Shatter the Glass Ceiling

Zions Bancorporation in Utah is breaking boundaries with its work in supporting women in technology-specific roles, earning the bank a spot on the Women Tech Council’s Shatter List for the past four years.

Source: FDIC branch deposit data (2021 Q2), FDIC Call Report 2Q2021, 2021 BLS/US Census Quarterly Census of Employment and Wages (QCEW) for Credit Intermediation and Related Activities, and ABA Analysis



  • $12.8 BNew Home Loans Booked in 2021

  • 28,484Number of New Home Loans in 2021

  • $295,000Median New Home Loan Size in 2021

  • $3.7 BSmall Business Loans

  • 272.5 KNumber of Small Business Loans

  • $13,411Average Small Business Loan

  • $603.9 MSmall Farm Loans

  • 10,774Number of Small Farm Loans

  • $48,630Average Small Farm Loan

Source: CFPB HMDA data, year-end 2021; FDIC Call Report 2Q2021 and Year-End 2021; 2021 USDA Quarterly Farm data and USDA/Census Data from 2017 State of Ag Survey; 2021 SBA/Census Data and ABA analysis



  • 2.4 MCustomers

  • $768.4 BDeposits

  • 57Banks Operating Branches

  • 502Branches & Offices

  • 316Branches Offering Low Fee Bank On-certified Accounts

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Bank of Utah Helps Customers Spot Scammers

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Bank of Utah, committed to protecting their customers from online scams, was a very active participant in ABA’s #BanksNeverAskThat campaign. Their efforts to educate customers included posts on their social media platforms, as well as publishing blog posts and news stories about the importance of anti-phishing awareness. They provided their customers with tips for spotting a scammer, and best practices for avoiding other account-draining schemes.

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Sources: Estimates based on ABA 2020/2021 survey data; FDIC Summary of Deposit (SOD) 2021Q2 Data; Cities for Financial Empowerment Fund

Giving Back

Giving Back

  • 57.3 KVolunteer Hours

  • $242.8 MCommunity Donations

Reaching New Heights and Saving Lives

When Bank of Utah learned that Weber County Search and Rescue (WCSAR) was trying to expand their capability to save lives, they stepped up to help. WCSAR was seeking donations to go toward a $30,000 high-tech drone which would significantly cut rescue time in reaching stranded and injured people in diverse terrain.

Source: Estimates based on ABA 2020/2021 survey data

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