First Utah Bank Review: Key History, Accounts, Loans & Services

First Utah Bank: Overview

First Utah Bank was established in 1978 and is headquartered in Millcreek, Utah. It positions itself as a true community bank that is wholly owned and operated by people who live and work in Utah. The bank focuses on both personal and business banking, with a strong relationship-based approach and a visible emphasis on local decision-making. It also highlights its status as an SBA-preferred lender, which is an important part of its business banking identity.

Expansion

First Utah Bank’s expansion story is more about steady local growth than a long list of mergers. The bank was established on October 19, 1978, under the original name Cottonwood Security Bank. It later changed its name to First Utah Bank in 1991. Over time, the bank grew from a single office into a larger local branch network concentrated in Salt Lake and Utah counties.

From its main office in Millcreek, First Utah Bank grew into a 7-branch network across Salt Lake and Utah counties. Its main office on 2300 East dates back to 1978, while other branch openings followed over the years: Midvale in 1995, Sandy and the 1300 South branch in Salt Lake City in 1997, West Valley City in 2007, Riverton in 2008, and Lehi in 2021. Together, those locations show a focused Wasatch Front growth strategy centered first on Salt Lake County, with later expansion into Utah County through Lehi.

Consumer Products and Services

FirstUtahBank.com | Personal Products

First Utah Bank offers a broad mix of personal and business banking services, which is typical of a Utah community bank trying to serve both households and local companies under one brand. On the consumer side, its lineup includes checking accounts, savings accounts, certificates of deposit (CDs), debit cards, online banking, mobile banking, consumer lending, and home lending. That gives it the profile of a full-service local bank rather than a bank built around only one specialty.

The bank’s business banking side also appears to be one of the stronger parts of its identity. First Utah Bank offers business checking, business savings, business credit cards, treasury management tools, merchant services, commercial lending, construction lending, and SBA loans. That business focus is one reason First Utah Bank was included in UtahFi’s Best Business Checking Accounts in Utah guide, since it stands out as a local bank with a meaningful small-business and commercial banking presence. This mix suggests the bank is not only serving everyday retail customers, but also positioning itself as a relationship-focused bank for Utah business owners who want local access, lending support, and a more direct banking experience.

Checking Accounts

First Utah Bank offers 4 personal checking accounts: Money Back Checking, Personal Checking, Full Service Checking, and Interest Checking. Together, these options give customers a mix of no-fee checking, interest-bearing checking, and an account with added relationship perks.

Money Back Checking

• Monthly fee: $0
• Minimum opening deposit: $25
• Debit card rewards: 3% cash back on net VISA debit card purchases, up to $15 per month

Personal Checking

• Monthly fee: $0
• Minimum opening deposit: $25
• Interest: No

Full Service Checking

• Monthly fee: $12 per month, waived with a $2,500 daily balance
• Minimum opening deposit: $25
• Interest: Yes
• Extra benefits: 1 free domestic wire transfer per year and a $15 annual safe deposit box rental discount, subject to availability

Interest Checking

• Monthly fee: $0
• Minimum opening deposit: $25
• Interest: Yes

Savings Accounts

First Utah Bank offers 3 personal savings accounts: Personal Savings, Companion Savings, and Personal Money Market. Together, these options give customers a mix of basic savings, a linked savings option, and a higher-balance account with money market features.

Personal Savings

Best for: customers who want a traditional savings account without a minimum balance requirement

• Monthly fee: $0
• Minimum opening deposit: $25
• Interest: Yes

Companion Savings

Best for: customers who want a companion account linked to a Money Back, Personal, or Interest Checking account

• Monthly fee: $0
• Minimum opening deposit: $25
• Interest: Yes

Personal Money Market

Best for: customers who keep larger balances and want full liquidity with a higher-yield savings option

• Monthly fee: $15 per month, waived with a $2,500 average daily balance
• Minimum opening deposit: $2,500
• Interest: Yes
• Transaction limits: limited to 6 withdrawals per month

Certificates of Deposit (CDs)

First Utah Bank also offers certificates of deposit (CDs) for customers who want to keep funds on deposit for a fixed term. Within its deposit lineup, CDs add another option beyond regular checking accounts and savings accounts, and they may appeal more to customers who prefer a more traditional savings approach through a local community bank.

Fixed Rate CDs

• Minimum deposit to open: $500
• Terms available: 6, 12, 24, 36, 48, and 60 months
• Compounding: quarterly
• Early withdrawal: a penalty may be applied for early withdrawal

Promotional CDs

• Minimum deposit to open: $500
• Terms available: 7 months and 13 months
• Compounding: quarterly
• Early withdrawal: a penalty may be applied for early withdrawal

Credit Cards

First Utah Bank does not appear to prominently offer personal credit cards as part of its public personal banking lineup. Its consumer-facing pages place more emphasis on checking accounts, savings accounts, debit cards, online banking, mobile banking, and other everyday banking services. Even so, the bank does clearly offer business credit cards within its business banking section, suggesting that credit cards are more visible as a business banking product than a consumer banking focus.

Loans

First Utah Bank offers several personal lending options as part of its consumer banking lineup. The bank says these loans can help with needs such as a new car, home remodel project, boat, or family vacation, and it presents them as part of a broader mix of consumer, personal, and home loan options.

Auto Loans

First Utah Bank offers auto loans for customers buying a new vehicle, financing a used vehicle, or refinancing an existing loan. The bank also says it can usually process an application within 24 hours.

Personal Loans

First Utah Bank also offers personal loans for general borrowing needs. According to the bank, these loans may be unsecured or may require collateral, depending on the amount requested and the borrower’s credit history, and they can be tailored with different repayment options.

Professional Line of Credit

First Utah Bank lists a professional line of credit through its First ProLine Line of Credit. The bank describes it as an unsecured revolving line of credit tied to a FirstPro interest-bearing checking account, with a minimum $10,000 line, a five-year maximum term, and access to funds by check, online, or phone.

Home Loans

First Utah Bank also offers home lending as part of its broader consumer lending lineup. In its home lending content, the bank frames this as an option for customers planning renovations, additions, or other major home projects, and says customers can speak with a home lending specialist to review financing options and borrowing eligibility. 

The bank’s home lending content also explains that refinancing an existing mortgage can be one way to spread renovation costs over a longer period, potentially at a lower interest rate than a personal loan or personal line of credit, though it notes that setup costs such as legal fees and appraisal fees may apply. It also points to home lending as a practical option for larger projects like a room addition or a kitchen or bathroom update.

Business Products and Services

FirstUtahBank.com | Business Products

First Utah Bank offers a broad set of business banking products and services for local companies. Its business lineup includes business checking accounts, business savings accounts, business debit cards, business credit cards, treasury management, merchant services, and business financing and loans. Taken together, those offerings give the bank a fuller small-business and commercial banking profile than a basic deposit-only community bank.

Business Checking

First Utah Bank offers business checking accounts as part of its core business banking lineup. This helps position the bank as an option for local businesses that want day-to-day banking through a Utah community bank rather than a national institution. That business checking presence is also one reason First Utah Bank was included in UtahFi’s Best Business Checking Accounts in Utah guide.

• Free Business Checking — geared toward businesses that are just starting out or want easy-to-use sub accounts. It has no monthly service fee, a $100 minimum opening deposit, and no transaction limitations. 

Read the full review of First Utah Bank Free Business Checking.

• Commercial Checking — aimed at businesses with higher balances and greater account activity. It has a $10 monthly fee plus activity fees, though the bank says those fees can be offset by earnings credit from deposit balances.

Business Savings

First Utah Bank offers 2 business savings accounts: Business Money Market and Business Savings. Business Money Market is positioned for businesses that maintain larger balances and want a higher-yield savings option, while Business Savings is presented as the more basic savings option for business customers.

Business Credit Cards

First Utah Bank offers business credit cards as part of its business banking lineup. Unlike its consumer banking pages, where personal credit cards do not appear to be a major focus, the bank clearly includes credit cards on the business side.

Treasury Management

First Utah Bank offers treasury management services for business customers. Its business savings pages also reference access to tools such as the Treasury Management Portal, ACH origination services, wires, Positive Pay, and remote deposit, which reinforces that the bank is trying to serve businesses with more than just deposit accounts.

Merchant Services

First Utah Bank also provides merchant services, giving business customers a way to support card payments and related payment processing needs. That strengthens its position as a more complete relationship bank for local businesses.

Business Loans

Business lending appears to be one of the stronger parts of First Utah Bank’s overall profile. The bank continues to highlight business financing and loans as a core part of its business banking offering, including term loans, SBA loans, lines of credit, and production builder loans. That reinforces its role as a community bank serving local business customers with both deposit and lending needs.

Conclusion

First Utah Bank is a Utah community bank with roots going back to 1978, when it was founded as Cottonwood Security Bank. It later became First Utah Bank in 1991. Over time, the bank expanded from a single office into a 7-branch network across Salt Lake and Utah counties, with locations including Millcreek, Salt Lake City, Midvale, Sandy, West Valley City, Riverton, and Lehi. That history reflects a steady Wasatch Front expansion built around local growth rather than a large regional footprint.

Today, First Utah Bank offers a broad mix of personal and business banking products. On the personal side, its lineup includes checking accounts, savings accounts, certificates of deposit (CDs), personal loans, auto loans, a professional line of credit, and home lending. On the business side, it offers business checking, business savings, business debit cards, business credit cards, treasury management, merchant services, and business loans. Taken together, First Utah Bank stands out as a full-service local bank with a meaningful business banking presence and a clear community-bank focus.

Disclaimer:
This page is not affiliated with, maintained by, or sponsored by First Utah Bank. The information provided in this overview may be outdated or inaccurate after the publication date. UtahFi does not assume responsibility for the accuracy of the content. The logo is a registered trademark of First Utah Bank.