Redemption Bank
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Data as of · sourced from FFIEC call reports. How we update
Redemption Bank is an FDIC-insured commercial bank headquartered in Salt Lake City, UT, established in 1974 (FDIC certificate 21448), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $77.5M, down 4.3% from Q2 2025, the 43rd largest of 44 banks headquartered in Utah. It reports no CET1 ratio; its Tier 1 leverage ratio was 18.53% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 21448
- Headquarters
- Salt Lake City, UT
- Established
- 1974
- Total assets, Q2 2026
- $77.5M
- Assets vs Q2 2025
- -4.3%
- Tier 1 leverage ratio, Q2 2026
- 18.53%
- Domestic offices
- 1 FDIC institution directory, current count
- Routing number
- 124302118
- Holding company
- REDEMPTION HOLDING COMPANY
- Asset rank in state
- 43rd of 44 in Utah
Problem loans are rising at Redemption Bank. The Salt Lake City, Utah bank had $77 million in assets at June 30, 2026, down 4.3% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 0.38% of loans from 0.05% a year earlier. It keeps 5.95 cents of net interest income on every dollar of earning assets, higher than about 9 in 10 of the 583 banks with less than $100 million in assets (median 3.87 cents). On the other hand, it holds commercial real estate loans worth 1.5 times its capital, 5.8 times the median of 26% for banks its size.
Loans and deposits moved in opposite directions: over the year loans rose 40.7% and deposits fell 5.2%. The commercial and industrial book ($8.3 million) is worsening: 2.73% of it is past due or on nonaccrual, up from 0.46% a year earlier. Costs are the weak spot: it spends about 86 cents to bring in each dollar of revenue, higher than about three-quarters of banks its size (median 69 cents).
As of June 30, 2026, Redemption Bank reported a return on assets of 0.56%, a nonperforming-loan ratio of 0.38% and a Texas ratio of 1.52%. The figures come from its call report filed with the FFIEC.
Of the 44 banks headquartered in Utah, Redemption Bank is the 43rd largest by total assets at Q2 2026. From Q1 2026 to Q2 2026, its total assets rose 8.2% to $77.5M, loans rose 12.9% and deposits rose 10.0%. 1-4 family residential loans made up 19.4% of its total loans on June 30, 2026, its largest category; next came owner-occupied commercial real estate loans at 16.7%. The FDIC Summary of Deposits lists a single office for it, in Salt Lake City, UT. Judged on its Q2 2026 call report, Redemption Bank meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 2020 E Murray Holladay Road, Salt Lake City, UT 84117
- County
- Salt Lake
- Metro Area
- Salt Lake City-Murray, UT
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- San Francisco (Region 14)
- Federal Reserve member
- No
- Federal Reserve district
- District 12, San Francisco
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 041
- Established
- February 20, 1974
- Former names
- Holladay Bank & Trust (1976-2025); Bank of Holladay (1975-1976)
- Domestic offices
- 1 FDIC institution directory, current count
- Employees (FTE)
- 16
- Domestic deposits
- $62.9M
- Allowance for credit losses
- $845K
- Net charge-offs (YTD)
- -$1K
- Average total assets
- $75.5M
- Average total loans
- $54.9M
- Average interest-bearing deposits
- $41.1M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- February 20, 1974
- FDIC Cert
- 21448
- Fed RSSD
- 617275
- SEC CIK
- 2084223 → filed by REDEMPTION HOLDING COMPANY
- Website
- www.redemptionbank.com →
- Parent Holding Company
- REDEMPTION HOLDING COMPANY (RSSD 5835412)
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, Redemption Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, Redemption Bank's total assets ranged from $61.6M (Q2 2024) to $81.0M (Q2 2025), and it earned a profit in 9 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$77.5M total assets against $81.0M; $63.5M total liabilities against $66.7M.
$58.5M net loans and leases against $41.6M; $62.9M total deposits against $66.3M.
$3.0M securities against $358K; $13.8M cash and balances due against $36.7M.
$1.4M total interest income against $1.2M; $314K total interest expense against $307K.
$1.1M net interest income against $845K.
$266K total noninterest income against $473K; $1.2M total noninterest expense against $1.3M.
$84K provision for credit losses against $0.
$106K net income against -$87K.
0.56% return on assets against -0.51%; 5.95% net interest margin against 4.96%.
18.53% tier 1 leverage ratio against 21.12%.
Inside the full Redemption Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
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Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from -1.88% (Q4 2025) to 1.75% (Q1 2025) and its net interest margin ran from 4.73% (Q1 2025) to 5.95% (Q2 2026).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 18.53% | 0.56% | 0.38% | 1.52% | 5.95% |
| Q1 2026 | 19.00% | -1.20% | 1.20% | 4.31% | 4.76% |
| Q4 2025 | 19.29% | -1.88% | 1.24% | 4.37% | 5.58% |
| Q3 2025 | 19.23% | 0.88% | 0.04% | 0.13% | 5.32% |
| Q2 2025 | 21.12% | -0.51% | 0.05% | 0.14% | 4.96% |
| Q1 2025 | 17.34% | 1.75% | 0.06% | 0.18% | 4.73% |
| Q4 2024 | 17.14% | 0.91% | 0.06% | 0.20% | 4.98% |
| Q3 2024 | 17.22% | 0.88% | 0.18% | 0.66% | 4.86% |
Swipe the table sideways to see every column.
Branch Network
View the branch → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Redemption Bank (main office) | Salt Lake City , UT | 84117 | $62.9M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in UT, rank 57 of 63 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 3 loans, $3.1M approved, $1.0M average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Mortgage lending (HMDA), Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Redemption Bank
What are Redemption Bank's total assets?
As of the Q2 2026 filing, Redemption Bank reported total assets of $77.5 million in its FFIEC call report.
Where is Redemption Bank headquartered?
It is headquartered in Salt Lake City, UT, United States.
When was Redemption Bank founded?
It was established in 1974, per the FDIC institution directory.
Is Redemption Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #21448). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Redemption Bank?
Redemption Bank's primary federal regulator is the FDIC.
How many branches does Redemption Bank operate?
It operates 1 domestic office, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Redemption Bank's Texas Ratio?
Its Texas Ratio is 1.52% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was Redemption Bank previously called?
The charter now named Redemption Bank has also operated as Holladay Bank & Trust (1976-2025), Bank of Holladay (1975-1976), per FDIC structure-change records.
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