Most people have heard of the Browning family as creators and crafters of the famed Browning firearms. But there is another side to the Browning story, one in which Frank M. Browning started Bank of Utah in 1952. Here is how a gunsmithing family branched into banking.
Technically skilled gunsmiths were often asked to fix cars. Growing up, Frank M. Browning worked closely with his father, John E. Browning, in the gun shop and also in the garage repairing vehicles. Frank became increasingly interested in cars, which led him to open two car dealerships in Ogden—Chevrolet and Buick. As he continued to work in the automobile industry, Frank saw the need for vehicle financing for people in the community. He brought in a few investors and started Bank of Utah with just 16 employees and just under $1 million in managed assets. And the rest, as they say, is history.
Today, Bank of Utah manages nearly $3 billion in assets with 18 branches, three dedicated mortgage offices and over 400 employees. Ten percent of the business is owned by bank employees, while the remainder stays primarily with the Browning family.
As a cornerstone of the local community, Bank of Utah plays a crucial role in fostering economic growth, vitality and well-being. The investments made here stay within our community, circulating to support local ventures and initiatives. Beyond simply offering loans, checking and savings accounts and other financial products, Bank of Utah actively contributes to the stability and prosperity of Utah’s neighborhoods. Whether facilitating a first-time car purchase, assisting in home ownership, fueling the growth of businesses or enabling families to save for their children’s education and retirement, Bank of Utah stands shoulder-to-shoulder with our neighbors, empowering them to transform their aspirations into reality.
Bank of Utah is primarily a commercial bank, serving small and medium businesses and municipalities. The bank also has a large mortgage business and offers personal trust services as well, providing ways for individuals to hold assets or money in self-directed IRAs, for example. In addition, the bank offers many deposit products to its personal and business customers, such as competitive CDs and a suite of business products that help people manage their businesses.
Bank of Utah is also dedicated to helping nonprofits and community organizations. In 2023, more than 93 Bank of Utah employees dedicated over 832 volunteer hours to 43 organizations, aligning with the strong volunteer spirit that defines Utah, and ensuring the bank’s success translates directly to the betterment of our communities. Many bank employees, including 75 bank leaders and managers, volunteer in local organizations including within the Pine Valley community and with the St. George Area Chamber of Commerce.
Recently, the bank, in partnership with the Federal Home Loan Bank of Des Moines, provided $124,800 in grants to 12 nonprofits throughout Utah. Bank of Utah also hosts an annual clothing drive and food drive, where proceeds go to various charitable groups throughout Utah, one of which is The Well, formerly Hope Pregnancy Center. In all, bank employees make an effort to lift up the communities in which they live and work.
Address: 335 E. St. George Blvd., Suite 103, St. George
Telephone: 435.986.7225
Website: bankofutah.com/locations/st-george
A few interesting facts about Bank of Utah:
- became the first bank in the state to issue a credit card, called the "Cred-O-Matic Shopping Plan"
- named Best of State, fifth year running, for mortgage department with Best of Southern Utah
- ended 2023 with just over $2.9 billion in assets, placing the bank in the top 10% nationwide for total assets
- became the first "motor bank" in Utah, adding a drive-up teller window to its building
- founded in Ogden on Dec. 1, 1952, with 16 employees and less than $1 million in assets
- known for its fun, personal local team
