Celtic Bank


268 South State Street, Suite 300
Salt Lake City, UT 84111
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.65% →
1-Year CD N.A. 0.67% →
2-Year CD N.A. 0.75% →
5-Year CD N.A. 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Celtic Bank is an FDIC insured institution located in Salt Lake City, UT. It was founded in 2001 and has approximately $4.22 billion in assets.

FDIC Insured Yes
FDIC Certificate # 57056
Date Established 2001
Assets $ 4.22 billion
Loans $ 3.74 billion
Deposits $ 959.07 million
Capital $ 271.24 million

For a more detailed analysis of Celtic Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - April 19, 2021

Your Current Location: Virginia, VA 20146


Loan Rates - April 19, 2021

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Celtic Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

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Note to Celtic Bank
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Financial Details

Celtic Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Celtic Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Celtic Bank U.S. Bank Average
4.03% 5.49%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2020, Celtic Bank had $12,332,000 in non-current loans and $320,000 in owned real estate. To cover these potential losses it had $271,240,000 in equity and $42,667,000 in loans loss reserves. That gives it a Texas Ratio of 4.03%.

Return on Equity
Celtic Bank U.S. Bank Average
34.86% 9.24%

Celtic Bank has a Return on Equity of 34.86% versus the BestCashCow average of 9.24%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Celtic Bank U.S. Bank Average
6.43% 11.96%

Celtic Bank has a Capitalization of 6.43% versus the BestCashCow average of 11.96. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Celtic Bank Balance Sheet Analysis

As of December 31, 2020, Celtic Bank had assets of $4,218,429,000, loans of $3,735,222,000, and deposits of $959,067,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2020
Cash & Balances due from depository institutions $ 161.04 million
Interest-bearing balances $ 159.05 million
Total securities $ 110.27 million
Federal funds sold and reverse repurchase $ 109.09 million
Net loans and leases $ 3.74 billion
Loan loss allowance $ 42.67 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.32 million
Goodwill and other intangibles $ 28.42 million
All other assets $ 49.84 million
     Total Assets $ 3.95 billion
Total deposits $ 959.07 million
      Interest-bearing deposits $ 885.55 million
      Deposits held in domestic offices $ 959.07 million
      % insured (estimated) 91.53%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 2.95 billion
Subordinated debt N.A.
All other liabilities $ 41.35 million
      Total Liabilities $ 3.95 billion
      Shareholders’ Equity $ 271.24 million

Summary Income Statement

December 31, 2020
Total Interest Income $ 84.83 million
Total Interest Expense $ 23.25 million
Net interest income $ 61.58 million
Provision for loan and lease losses $ 33.06 million
Total non interest income $ 148.68 million
Total non interest expense $ 68.57 million
Pre-tax Net Operating Income $ 108.63 million

Bank Loan Profile?

The top three loan types in Celtic Bank’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks in Utah, Celtic Bank has a significantly higher percent of Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 0.12
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 1.53
Construction and Development Loans 1.00
Commercial Real Estate 11.43
Commercial and Industrial Loans 88.22
Farm Loans 0.00

Frequently Asked Questions About Celtic Bank

Branches and Savings

Is Celtic Bank FDIC insured?

Yes. It is covered under FDIC Certificate #57056.

Why does Celtic Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Celtic Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Celtic Bank a commercial bank?


Where are Celtic Bank locations?

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Does Celtic Bank require US citizenship to open account?

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Does Celtic Bank offer mortgages?

Compare mortgage rates here.

Does Celtic Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Celtic Bank offer personal loans?

Compare personal loan rates here.

Does Celtic Bank offer student loans?

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Background on The Bank

Who owns Celtic Bank?

How long has Celtic Bank been around?

Can Celtic Bank transfer to other banks?

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