Synchrony Bank
Draper, Utah, Salt Lake County
$115B in total assets, the 30th largest of 4,309 US banks and 5th of 45 headquartered in Utah.
- FDIC certificate
- 27314
- Established
- 1988
- Owned by
- Synchrony Financial
- Primary regulator
- OCC
- Website
- www.synchronybank.com
At a glance
Compared with 31 US banks with over $100 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $115B | 6% | $255B | |
| Loans | $98.8B | 29% | $149B | |
| Deposits | $86.0B | 3% | $225B | |
| Return on assets | 2.95% | 97% | 1.20% | |
| Net interest margin | 12.91% | 98% | 3.14% | |
| Efficiency ratio | 36.7% | 10% | 54.8% | |
| Equity to assets | 12.90% | 87% | 9.69% | |
| Loans to deposits | 115% | 98% | 73% |
Growth
Total assets grew 7.1% a year over the last 5 years and 6.0% a year over 10 years, without acquisitions.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Jan 2006 | Belk National Bank Lawrenceville, GA | $13M |
| Feb 2005 | Monogram Credit Card Bank of Georgia Alpharetta, GA | $4.8B |
| Jun 2003 | Mill Creek Bank Salt Lake City, UT | $2.7B |
Where they operate
2 branches in 2 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Salt Lake County, UT | $86.0B | 7.3% | 6 of 57 |
| Seminole County, FL | $0K | 0.0% | 23 of 25 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net loss of 3 branches since 2016 (5 to 2, −60.0%). 3 opened, 0 acquired, 6 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 5 | |||
| 2018 | Closed Bridgewater | 0 | 1 | −1 | 4 |
| 2019 | Closed Atlanta | 0 | 1 | −1 | 3 |
| 2022 | Opened LavistaClosed Merriam | 1 | 1 | 0 | 3 |
| 2023 | Opened Altamonte Springs | 1 | 0 | +1 | 4 |
| 2024 | Closed Lavista | 0 | 1 | −1 | 3 |
| 2025 | Closed Charlotte | 0 | 1 | −1 | 2 |
| 2026 through Q2 | Opened Lake MaryClosed Altamonte Springs | 1 | 1 | 0 | 2 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Consumer | 97% | 17% | |
| Business (C&I) | 3% | 19% | |
| Construction and land | 0% | 2% | |
| 1-4 family residential | 0% | 19% | |
| Multifamily | 0% | 3% | |
| Commercial real estate | 0% | 8% | |
| Other | 0% | 32% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Time deposits | 55% | 11% | |
| Other interest-bearing | 45% | 72% | |
| Noninterest-bearing | 1% | 16% |
Brokered deposits are 7.1% of deposits (peers 7.1%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 2.04% | 0.86% |
| Net charge-offs, annualized | 5.39% | 0.35% |
| Reserves to loans | 10.18% | 1.39% |
| Leverage ratio | 12.56% | 9.39% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Utah
Largest competitors in Salt Lake County, UT
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/synchrony