Ogden, Utah, March 26, 2025 — Bank of Utah (BOU Bancorp Inc.) ranks No. 14 on S&P Global Market Intelligence’s list of the Best-Performing U.S. Community Banks of 2024 in the $3 billion to $10 billion asset category. The ranking reflects the bank’s strong financial performance, highlighting its returns, growth and funding — placing an emphasis on the strength and risk profile of balance sheets.
This national recognition is particularly notable, as Bank of Utah — headquartered in Ogden — is ranked in the top 15 of all community banks of its size in the nation. Among hundreds of eligible institutions across the country, Bank of Utah’s inclusion in the top tier highlights the strength, stability and performance of a locally headquartered bank competing successfully on a national level.
S&P Global Market Intelligence’s annual rankings assess the best-performing community banks with assets between $3 billion and $10 billion, and those below $3 billion; credit unions; U.S. public banks; and community banks by region. These rankings, which have been published since 2011, were launched to assess the performance of banks and credit unions. Regional lists rank banks with assets under $10 billion in the Northeast, South Central, Southeast, West and Midwest.
“Bank of Utah is honored to be recognized by S&P Global Market Intelligence for our financial performance in 2024,” said Branden P Hansen, President at Bank of Utah. “This is our second national ranking in the past two months, highlighting the achievements of our hardworking team members and the trust of our incredible clients and community. Our goal is to be a strong, trustworthy and forward-thinking partner, ensuring that every client can proudly say, ‘This is my Utah. Bank of Utah is my bank.’”
Bank of Utah also received the Gold Medal in the GOBankingRates 2025 Best Banks by State Awards, an honor based on FDIC data and a comprehensive analysis of product offerings among Utah banks.
S&P Global Market Intelligence uses eight metrics to compile its rankings of financial institutions: pretax return on average assets; net interest margin; efficiency ratio; 3-year average operating revenue change; 8-quarter average deposit change; nonperforming assets and loans 90 days or more past due as a percentage of total assets; net charge-offs-to-average loans and leases ratio; and adjusted tangible common equity-to-tangible assets ratio weighted at 25%, 10%, 10%, 10%, 10%, 10%, 10% and 15%, respectively.
“As banks and credit unions digest an uncertain and changing macroeconomic landscape, we are delighted to see them remain focused on serving their local markets,” said Nathan Stovall, director of financial institutions research at S&P Global Market Intelligence. “During these volatile times, quality data and insights continue to be vital, and we are committed to providing transparency through these rankings to help the market make informed decisions.”
Access the full list of 2024 Top Bank and Credit Union Rankings – National here.
