Utah
department of Financial Institutions regulates 25 banks,
69 credit unions, 35 industrial banks, 2 savings and loans
and 2 trust companies. There are also 11 national banks,
3 out of state banks, 50 federal credit unions and 6 federal
savings and loans, operating within the state of Utah.
As
of June 30, 2004 Utah depository institutions had combined
total assets of 212.4 billion dollars. Of that total,
57.3 billion were in banks, 9.0 billion were in credit
unions, 108.9 billion were in industrial banks and 37.2
billion were in savings and loans associations.
All
banks, credit unions, savings and loans and industrial
banks operating within the state of Utah have its deposits
insured by the Federal Deposit Insurance Corporation (FDIC).
There
are approximately 192 residential mortgage lenders, brokers
and servicers conducting business in Utah. The Utah Division
of Real Estate is now the primary regulator of residential
first mortgage lenders and brokers.
For
the fiscal year ended September 2003, Zions First National
Bank approved 355 US Small Business Administration loans
in Utah, ranking Zions Bank as the State’s top provider
of SBA loans to small businesses. In Utah, approximately
97 percent of businesses qualify as “small businesses”,
(businesses with fewer than 500 workers).
In
addition to Utah
Financial Institutions and Utah
Financial Resources, Life
in the Valley Magazine will give you helpful information
on the following areas:
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