RANKING ·
Lowest cost of deposits in Utah
42 of 45 banks in Utah that filed for the quarter ended June 30, 2026 are ranked. At least $100 million in total assets. Institutions with equal values share a rank. Source: FDIC quarterly financial data.
| Rank | Institution | Headquarters | Cost of all deposits, annualized for the quarter | Total assets |
|---|---|---|---|---|
| 1 | Green Dot Bank | Provo, UT | 0.18% | $5.4 billion |
| 2 | First Electronic Bank | Salt Lake City, UT | 0.30% | $503 million |
| 3 | Optum Bank Inc. | Draper, UT | 0.71% | $21.4 billion |
| 4 | The Pitney Bowes Bank Inc. | Salt Lake City, UT | 0.75% | $796 million |
| 5 | Thrivent Bank | Salt Lake City, UT | 1.02% | $906 million |
| 6 | Sunwest Bank | Sandy, UT | 1.23% | $4.4 billion |
| 7 | Square Financial Services Inc. | Salt Lake City, UT | 1.30% | $2.1 billion |
| 8 | B2 Bank N.A. | Holladay, UT | 1.34% | $115 million |
| 9 | Utah Independent Bank | Salina, UT | 1.42% | $171 million |
| 10 | Grand Valley Bank | Heber City, UT | 1.45% | $599 million |
| 11 | Varo Bank N.A. | Draper, UT | 1.47% | $338 million |
| 12 | Zions Bancorporation N.A. | Salt Lake City, UT | 1.49% | $89.0 billion |
| 13 | Brighton Bank | Salt Lake City, UT | 1.56% | $322 million |
| 14 | Central Bank | Provo, UT | 2.07% | $2.2 billion |
| 15 | Cache Valley Bank | Logan, UT | 2.11% | $3.5 billion |
| 16 | State Bank of Southern Utah | Cedar City, UT | 2.11% | $2.7 billion |
| 17 | Bank of Utah | Ogden, UT | 2.21% | $3.8 billion |
| 18 | First Utah Bank | Salt Lake City, UT | 2.26% | $840 million |
| 19 | Morgan Stanley Bank N.A. | Salt Lake City, UT | 2.28% | $419 billion |
| 20 | Continental Bank | Salt Lake City, UT | 2.46% | $182 million |
| 21 | Column N.A. | Salt Lake City, UT | 2.70% | $1.8 billion |
| 22 | UBS Bank USA | Salt Lake City, UT | 2.86% | $124 billion |
| 23 | Sofi Bank N.A. | Cottonwood Heigh, UT | 2.90% | $56.8 billion |
| 24 | Finwise Bank | Murray, UT | 2.93% | $915 million |
| 25 | Wex Bank | Sandy, UT | 2.97% | $10.7 billion |
| 26 | Capital Community Bank | Provo, UT | 3.08% | $1.6 billion |
| 27 | Ally Bank | Sandy, UT | 3.10% | $188 billion |
| 28 | American Express National Bank | Sandy, UT | 3.25% | $214 billion |
| 29 | Transportation Alliance Bank, Inc. Dba Tab Bank | Ogden, UT | 3.38% | $1.6 billion |
| 30 | Lendingclub Bank N.A. | Lehi, UT | 3.41% | $12.5 billion |
| 31 | Webbank | Salt Lake City, UT | 3.56% | $2.9 billion |
| 32 | Celtic Bank Corporation | Salt Lake City, UT | 3.62% | $5.3 billion |
| 33 | Merrick Bank | South Jordan, UT | 3.64% | $9.1 billion |
| 34 | Synchrony Bank | Draper, UT | 3.68% | $115 billion |
| 35 | Prime Alliance Bank | Woods Cross, UT | 3.72% | $1.1 billion |
| 36 | Sallie Mae Bank | Salt Lake City, UT | 3.78% | $28.5 billion |
| 37 | Comenity Capital Bank | Draper, UT | 3.80% | $13.9 billion |
| 38 | Bmw Bank of North America | Salt Lake City, UT | 3.83% | $13.8 billion |
| 39 | Nelnet Bank | Draper, UT | 3.89% | $3.0 billion |
| 40 | Home Savings Bank | Salt Lake City, UT | 3.91% | $109 million |
| 41 | Milestone Bank | Salt Lake City, UT | 3.97% | $342 million |
| 42 | Medallion Bank | Salt Lake City, UT | 4.00% | $2.8 billion |
Rankings sort one published measure; they are not an overall judgment of any institution. Methodology · All rankings