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Utah: Banks’ Economic Impact

Banks support Utah’s economy with consumer, business and other loans, and by providing more than 10,000 people with a rewarding place to work.

Find State-by-State Data #
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Jobs

Jobs

  • 10,682Employees

  • $1.1 BTotal Annual Compensation & Benefits

  • $105,833Average Total Compensation & Benefits

  • 38Banks 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 (2020), estimates based on ABA 2020/2021 survey data

Lending

Lending

  • $12.1 BNew Home Loans Booked in 2020

  • 31,880Number of New Home Loans in 2020

  • $275,000Median New Home Loan Size in 2020

  • $4.5 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 37,506PPP Loans

  • $29,046Median PPP Loan

  • 538.7 KJobs Supported by PPP

Source: Estimates based on ABA 2020/2021 survey data, HMDA, SBA PPP Loans

Customers

Customers

  • 2.4 MCustomers

  • $714 BDeposits

  • 53Banks Operating Branches

  • 509Branches & Offices

  • 791Branches 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.

More stories on Serving Customers #

Source: Estimates based on ABA 2020/2021 survey data, FDIC branch deposit data, CFE Fund and S&P Global Market Intelligence

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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