57 FDIC-insured banks operate 205 branches in Salt Lake County, Utah, holding $1.18T in total deposits as of the 2026 FDIC Summary of Deposits. Morgan Stanley Bank, National Association leads the market with 22.9% share. Deposit market share is the clearest available measure of competitive position in a local market: it reflects where households and businesses actually keep their money, rather than where institutions advertise or how many branches they operate.
Understanding a deposit market requires knowing the market itself. These figures come from the US Census Bureau American Community Survey 2024 five-year estimates. Median family income is the measure federal regulators use to define low- and moderate-income thresholds under the Community Reinvestment Act, which is why it is reported here separately from household income.
| Population | 1,196,523 |
|---|---|
| Median family income | $116,682 |
| Median home value | $525,700 |
| Banks operating in county | 57 |
| Bank branches | 205 |
Ranked by deposits held within county borders. A bank's county deposits are the sum across all of its branches in that county, so an institution with several locations appears once. Figures are as of June 30, 2026, the annual reporting date for the FDIC Summary of Deposits.
| Rank | Bank | Deposits | Share | Branches |
|---|---|---|---|---|
| 1 | Morgan Stanley Bank, National Association | $268.75B | 22.86% | 1 |
| 2 | Goldman Sachs Bank USA | $194.09B | 16.51% | 2 |
| 3 | American Express National Bank | $171.55B | 14.59% | 1 |
| 4 | Ally Bank | $156.61B | 13.32% | 1 |
| 5 | UBS Bank USA, National Association | $109.33B | 9.30% | 1 |
| 6 | Synchrony Bank | $85.97B | 7.31% | 1 |
| 7 | SoFi Bank, National Association | $46.61B | 3.97% | 1 |
| 8 | JPMorgan Chase Bank, National Association | $23.69B | 2.02% | 21 |
| 9 | Sallie Mae Bank | $20.33B | 1.73% | 1 |
| 10 | Optum Bank, Inc. | $16.52B | 1.41% | 1 |
| 11 | Zions Bancorporation, N.A. | $13.15B | 1.12% | 28 |
| 12 | Comenity Capital Bank | $10.99B | 0.94% | 1 |
| 13 | BMW Bank of North America | $9.52B | 0.81% | 1 |
| 14 | WEX Bank | $7.88B | 0.67% | 1 |
| 15 | Wells Fargo Bank, National Association | $7.79B | 0.66% | 27 |
| 16 | Merrick Bank | $7.41B | 0.63% | 1 |
| 17 | Celtic Bank | $3.90B | 0.33% | 1 |
| 18 | KeyBank National Association | $3.21B | 0.27% | 16 |
| 19 | U.S. Bank National Association | $2.85B | 0.24% | 20 |
| 20 | Nelnet Bank | $2.51B | 0.21% | 1 |
| 21 | Medallion Bank | $2.30B | 0.20% | 1 |
| 22 | WebBank | $2.26B | 0.19% | 1 |
| 23 | FinWise Bank | $723.0M | 0.06% | 2 |
| 24 | The Pitney Bowes Bank, Inc. | $676.4M | 0.06% | 1 |
| 25 | First Utah Bank | $659.9M | 0.06% | 6 |
| 26 | Bank of America, National Association | $614.1M | 0.05% | 15 |
| 27 | Square Financial Services, Inc. | $559.3M | 0.05% | 1 |
| 28 | Thrivent Bank | $548.1M | 0.05% | 1 |
| 29 | Glacier Bank | $478.2M | 0.04% | 6 |
| 30 | WaFd Bank | $456.1M | 0.04% | 6 |
| 31 | Bank of Utah | $409.2M | 0.03% | 4 |
| 32 | UMB Bank, National Association | $319.4M | 0.03% | 1 |
| 33 | BMO Bank National Association | $311.0M | 0.03% | 4 |
| 34 | First Electronic Bank | $285.6M | 0.02% | 1 |
| 35 | Milestone Bank | $282.8M | 0.02% | 1 |
| 36 | Brighton Bank | $278.8M | 0.02% | 5 |
| 37 | Varo Bank, National Association | $209.8M | 0.02% | 1 |
| 38 | Sunwest Bank | $199.6M | 0.02% | 1 |
| 39 | Cache Valley Bank | $174.7M | 0.01% | 1 |
| 40 | Axos Bank | $162.0M | 0.01% | 1 |
| 41 | Continental Bank | $141.0M | 0.01% | 1 |
| 42 | NBH Bank | $120.0M | 0.01% | 1 |
| 43 | Fortis Bank | $79.6M | 0.01% | 1 |
| 44 | Home Savings Bank | $76.4M | 0.01% | 1 |
| 45 | B2 Bank National Association | $72.6M | 0.01% | 1 |
| 46 | Quill Bank | $70.3M | 0.01% | 1 |
| 47 | First American Trust, FSB | $69.4M | 0.01% | 1 |
| 48 | Redemption Bank | $62.9M | 0.01% | 1 |
| 49 | Banterra Bank | $47.4M | 0.00% | 1 |
| 50 | MidFirst Bank | $43.8M | 0.00% | 1 |
| 51 | Columbia Bank | $31.7M | 0.00% | 1 |
| 52 | D. L. Evans Bank | $27.9M | 0.00% | 1 |
| 53 | Northwest Bank | $26.0M | 0.00% | 1 |
| 54 | Liberty Bank, Inc. | $7.2M | 0.00% | 1 |
| 55 | Stride Bank, National Association | $1.6M | 0.00% | 1 |
| 56 | Regions Bank | — | 0.00% | 1 |
| 57 | Column National Association | — | 0.00% | 1 |
The FDIC Summary of Deposits is an annual survey of branch office deposits filed by every FDIC-insured institution as of June 30 each year. It is the authoritative source for local deposit market share and is the dataset regulators use when assessing competitive effects of bank mergers. Because it is annual, it reflects a point in time rather than current balances. Vault republishes it without modification, free to access and free to cite. Available to AI agents at vaultbot.ai/mcp.