Bank of Utica Inc. (BKUT)

Overview

Bank of Utica, established in 1927 and located in Utica, New York, operates as a commercial bank. It offers a wide range of banking products and services, primarily focusing on fulfilling the financial needs of its customers in the local community. With its rich history and dedication to serving the region, the bank has established itself as a trusted financial institution in Utica, providing both traditional and modern banking solutions to both individual and business clients through its subsidiary.

Products and Services

Deposit Accounts: Bank of Utica provides a variety of deposit account options to meet the needs of both personal and business clients. Options include personal checking, business checking, savings, money market, retirement, and health savings accounts, in addition to certificates of deposit. These accounts are designed to offer flexibility and convenience, catering to different financial goals and requirements.

Loans: A comprehensive suite of loan products is available at Bank of Utica, catering to both personal and business financing needs. Business clients can avail business lines of credit, commercial mortgages, long-term loans, short-term loans, accounts receivable and inventory financing, as well as federal and NYS government loan programs. For personal clients, the bank offers personal installment loans, vehicle loans, home mortgages, and home equity loans, supporting various personal financial needs from buying a home to financing a car or covering unexpected expenses.

Online and Mobile Banking Services: Embracing technological advancements, Bank of Utica offers online and mobile banking services to its clientele. This includes real-time account balance inquiry, funds transfer and management, remote deposit, bill payment, real-time stop payment orders, check reconciliation, domestic wire transfers, re-ordering checks, and ACH processing with services such as payroll. These services enhance convenience, allowing customers to manage their finances from anywhere at any time.

Additional Banking Services: Apart from the primary banking products, the bank extends a range of other services aimed at enriching the customer’s banking experience. This includes the provision of debit and ATM cards, 24/7 telephone banking for round-the-clock account access, and traditional banking services that reflect the bank’s commitment to both modern and classic banking practices. It also engages in securities investments, indicating a broader financial management and investment strategy.