No stored Google rating available.
State-chartered, FDIC-insured industrial bank partnering with fintechs and lenders to issue compliant financial products across the credit spectrum.
Data compiled from public sources
First Electronic Bank (FEB) is a state-chartered, FDIC-insured industrial bank headquartered in Salt Lake City, Utah, with over 20 years of operational history. The company positions itself as a "sponsor bank" that enables fintech companies and lenders to bring financial products to market by providing the banking infrastructure and regulatory compliance framework needed for product issuance.
FEB offers a broad range of lending products across multiple market segments, from prime to subprime consumer lending, small business credit, general-purpose credit products, and point-of-need installment loans. The company reports originating over $40 billion in loans and emphasizes experience context across credit cards, BNPL (Buy Now Pay Later), SMB lending, and installment loans. Their business model is B2B-focused, working directly with partner companies rather than serving consumers directly through retail banking channels.
The company differentiates itself through claimed experience context across all lending types, a 20+ year track record, and emphasis on balancing innovation with regulatory compliance and community impact. They highlight their Community Reinvestment Act initiatives focused on underserved populations and expanded credit access, positioning responsible banking as core to their strategy.
A key caveat is that FEB operates as a partner/sponsor bank, not a direct consumer lender. Consumers cannot open accounts or borrow directly from FEB; they access FEB's products only through fintech partners and lenders that FEB sponsors. The website lacks specific product details, APR ranges, fees, or terms, making it difficult to assess actual consumer value. Marketing language is aspirational ("revolutionizing," "future of finance") without concrete performance metrics beyond the stated loan volume.
This is state-level context for Banks consumers in Salt Lake City, UT. It does not confirm that First Electronic Bank or this specific location is licensed.
State regulator
Utah Department of Financial Institutions
Consumer protection
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
First Electronic Bank offers 12 services including Sponsor bank / industrial bank licensing and regulatory framework for partner lenders, Prime consumer lending products and origination, Subprime consumer lending products and origination, Small business credit and SMB lending, Credit card issuance and servicing, and 7 more.
First Electronic Bank has profile signals associated with Fintech companies and lenders seeking banking infrastructure and regulatory compliance support to launch financial products, Established lending companies looking to issue compliant consumer or business credit products at scale, Consumers indirectly—only if their preferred fintech or lender partner uses FEB as their sponsor bank (FEB is invisible to end consumers).
Key strengths: FDIC-insured deposits provide standard federal protection up to $250,000; 20+ years of operational history and $40B+ in loans originated demonstrates established track record; State-chartered industrial bank status means regulatory oversight and compliance infrastructure. Areas to consider: Not a direct consumer lender—consumers cannot apply to or bank with FEB directly; access only through partner lenders; Website contains no specific product terms, APR ranges, fees, loan amounts, or repayment details for any offering.
In the Banks category, comparable providers include Bank of Utah, Brighton Bank, Cache Valley Bank. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
First Electronic Bank is designed for fintech companies and established lenders seeking to scale financial products, not for direct consumer borrowing. Consumers should seek out FEB's partner companies to access actual products—FEB itself is a behind-the-scenes banking infrastructure provider with no direct consumer-facing services, applications, or products.
Bank of Utah is a full-service community bank offering personal and business checking, savings, loans, mortgages, and wealth management services with locally-made lending decisions.
Profile signals: Utah-based small business owners seeking locally-made commercial lending decisions and relationship banking, Homebuyers in Utah looking for a comprehensive home loan shop with multiple options (purchase, refinance, build, reverse mortgage)
FDIC-insured community bank serving Utah with 46+ years of experience, offering checking, savings, business banking, and digital financial tools for individuals and small businesses.
Profile signals: Small business owners in the Salt Lake City area seeking personalized banking relationships, Utah-based individuals and families prioritizing local community bank values
Community bank offering personal and business banking services with FDIC insurance, celebrating 50 years of local operations in Utah.
Profile signals: Utah-based small business owners seeking relationship-driven banking with local decision-making, Individuals and families prioritizing personalized service and community connection over digital-only convenience
Answer 3 quick questions to review category, service, and profile context.
1. What's your primary financial goal?
A plain-English breakdown of every credit score range — what each number actually means for your loans, cards, and daily life, plus exactly what to do about yours.
Read guide →A plain-English breakdown of what credit products, loans, and cards you can realistically get at every credit score level — from deep subprime to excellent.
Read guide →Learn exactly how to check your credit score for free using legitimate sources, understand the difference between soft and hard inquiries, and know your rights under federal law.
Read guide →Affiliate Disclosure: CreditDoc may earn a commission when you click links to First Electronic Bank and other services. These commissions help us maintain our free research. Compensation does not determine whether a provider can be covered; visible star ratings use stored Google review ratings when available. Learn more.