MagnetBank Overview

MagnetBank, founded in September 29, 2005, is currently an active FDIC insured bank. The chartering agency for MagnetBank is currently with the State. This FDIC insured bank is not being operated by government conservatorship. MagnetBank has an FDIC insurance membership with the DIF – Deposit Insurance Fund and is regulated by the Federal Deposit Insurance Corporation (FDIC).

MagnetBank is assigned uner the San Francisco Federal Deposit Insurance Corporation (FDIC) supervisory office and had obtained their federal deposit insurance on September 29, 2005.

Address Location and Maps for MagnetBank

Bank Name MagnetBank FDIC Bank Location for MagnetBank
Address 2825 East Cottonwood Parkway, Suite 180
Salt Lake City, UT 84121
County: Salt Lake
Bank’s State: Utah
Website: Unknown


MagnetBank Detailed Information

FDIC Certificate ID 58001
Bank Institution Name MagnetBank
Is the Bank Active? Active
Office of Thrift Supervision Docket ID Not an OTS Member
Total Assets $300,674,000
Total Deposits $282,578,000
Regulator Federal Deposit Insurance Corporation (FDIC)
Bank Charter Class NM – Commercial Bank. Bank is supervised by the Federal Deposit Insurance Corporation (FDIC). State charter and Fed non-member
FDIC Bank’s Chartering Agency State
Bank is FDIC Insured No, FDIC insured bank is NOT a member of the Bank Insurance Fund
Bank Insurance Fund DIF – Deposit Insurance Fund
Date of Deposit Insurance September 29, 2005
Change Code 230
Change Code Description FDIC Insured Bank Financial Difficulty – Payoff
OCC Bank Charter Number No FDIC Bank Charter Number
Conservatorship FDIC insured bank is not being operated by government conservatorship.
Inactive Bank that used to be FDIC insured? Yes
Credit Card Institution No, bank is not a credit card institution. Credit card loans do not exceed 50% of the FDIC Bank institution’s total assets, including loans that have been securitized and sold.
Insured Commercial Banks Yes
FDIC Supervisory Region San Francisco
Insured Savings Institution No, Bank is not Savings Association Insurance Fund (SAIF) insured
State Charter Yes
County Salt Lake
Office of Thrift Supervision Region West
Assigned Federal Reserve District San Francisco
Oakar Institutions No
FDIC Field Office 0
Insured offices of foreign banks 0

MagnetBank is insured by the Federal Deposit Insurance Corporation (FDIC)

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