MagnetBank no longer operates under this certificate. It failed on January 30, 2009. See the failure record.
MagnetBank is a bank based in Salt Lake City, Utah.
There is not enough recent publicly reported data to show a TellerScore for MagnetBank.
TellerScore · —
Scorecard
The TellerScore is our own summary of the figures this institution reports publicly; it is not issued or endorsed by any government agency. It is not a prediction, and deposits within insurance limits are protected either way.
0 quarters
Health trend
| Quarter | Score | Assets | Capital | Problem loans | ROA | Loans/deposits |
|---|
How it compares with peers
Percentile against banks of similar size nationwide (100th = best among peers; for ratios where lower is better, the scale is flipped).
Deposit insurance
Is my money safe at MagnetBank?
MagnetBank is no longer an active bank in FDIC records (since 2009).
Identity & history
Profile
- Legal name
- MagnetBank
- Type
- State-chartered bank
- FDIC certificate #
- 58001
- RSSD ID
- 3385285
- Primary regulator
- FDIC
- Established
- September 29, 2005
- Headquarters
- 2825 East Cottonwood Parkway, Suite 180, Salt Lake City, UT 84121
Quick answers
MagnetBank: common questions
Is MagnetBank FDIC insured?
MagnetBank is no longer an active bank in FDIC records (since 2009).
Has MagnetBank ever failed?
FDIC records show Magnet Bank failed on January 30, 2009.