Utah County, Utah, a core county of the Salt Lake City-Provo-Orem, UT-ID market, holds $27.8B in deposits across 16 insured institutions and 91 branches. Happen Bank is the largest deposit holder at 39.0% share. The top three banks hold 68% of deposits, which places the county in the Concentrated band. Deposits have grown 69.2% since 2021 while the branch count rose by 12.3%. It produced $38.9B of real gross domestic product in 2024, ranking #120 of the 1,523 ranked counties by economic output.
Ranks show where the county stands among the 1,523 ranked counties (those within a Combined or Metropolitan Statistical Area that have a branch). They describe relative position, not a rating of market quality or suitability.
Deposit trend
Branches: 81 in 2021 to 91 in 2026. Institutions: 13 to 16. Top-three share: 49% to 68%.
Institutions by deposits
| Institution | Deposits | Share | 5‑yr deposits |
|---|---|---|---|
| Happen Bank | $10.9B | 39.0% | +327% |
| Green Dot Bank DBA Bonneville Bank | $5.0B | 18.1% | +60% |
| Zions Bancorporation | $3.1B | 11.1% | +33% |
| Central Bank | $1.8B | 6.4% | +28% |
| Wells Fargo Bank | $1.6B | 5.9% | -20% |
| JPMorgan Chase Bank | $1.6B | 5.7% | -2% |
| Glacier Bank | $1.3B | 4.7% | -28% |
| Quill Bank | $1.2B | 4.3% | +229% |
| Bank of America | $440M | 1.6% | +57,358% |
| Bank of Utah | $285M | 1.0% | +60% |
| NBH Bank | $280M | 1.0% | -54% |
| U.S. Bank | $211M | 0.8% | +7% |
| KeyBank | $82M | 0.3% | -55% |
| First Utah Bank | $29M | 0.1% | no 2021 presence |
| D. L. Evans Bank | $10M | <0.1% | no 2021 presence |
| Cache Valley Bank | $3M | <0.1% | no 2021 presence |
The 16 insured institutions with a branch presence in this county, per the FDIC Summary of Deposits, June 30, 2026. Five-year change compares the same institution’s county deposits in 2021 and 2026. Institutions are tracked by FDIC certificate number, and where an institution acquired another bank, the acquired bank’s prior deposits are folded into the baseline so the change reflects the combined, continuing franchise rather than reading as new. “No 2021 presence” means neither the institution nor a bank it later absorbed reported deposits in this county that year. Deposit figures are nominal and are not adjusted for inflation.
Part of the Salt Lake City-Provo-Orem market
Utah County is one of 11 counties that make up the Salt Lake City-Provo-Orem, UT-ID market, a Combined Statistical Area (ranked #24 of 293 U.S. markets by economic output). It produces 19.1% of the market’s output and holds 2.3% of its deposits.
| Measure | Utah County | Share of parent market |
|---|---|---|
| 2024 GDP | $38.9B | 19.1% |
| Deposits | $27.8B | 2.3% |
| Population | 759,859 | 26.1% |
View the full Salt Lake City-Provo-Orem market profile →
Recruiting in Utah County
Deposits are held closely by the largest banks, which often means the bankers worth recruiting are inside a small number of institutions. Who holds the deposits, and how contested the market is, shapes both the runway for growth and the competition you would be recruiting against. We recruit commercial relationship managers, banking teams, and market leaders for banks building in markets like Utah County.
See how we help banks recruit commercial banking talent