Utah anchors and dominates industrial banking in the United States

The Kem C. Gardner Policy Institute today released a groundbreaking analysis detailing the substantial economic benefits of industrial banks in Utah, the nationwide center for this banking segment with a 110-year history. The report, commissioned by the Utah Center for Financial Services at the David Eccles School of Business, shows that Utah headquartered industrial banks held $140.6 billion in assets in 2019, 93.5% of the U.S. total for industrial banks and 0.8% of the U.S. total for any type of bank insured by the Federal Deposit Insurance Corporation (FDIC).

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