Published by Paul Ivinskas
Monday, October 19, 2026
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Directory · Utah banks

Square Financial Services, Inc.

A Utah-chartered industrial bank associated with Square business lending and deposit products.

Institution snapshot: October 2, 2026. Assets reported for June 30, 2026. Profile sources checked October 19, 2026. Flag an error

Official institution website ↗Salt Lake City news and communityCompare Utah banks

The insured institution

Legal name
Square Financial Services, Inc.
Headquarters city
Salt Lake City, Utah
Charter
Utah industrial bank
FDIC certificate
59177 · BankFind record ↗
Primary federal regulator
Federal Deposit Insurance Corporation
Total assets · June 30, 2026
$2.1B

The asset figure covers this FDIC-insured institution, including operations outside Utah. It is not a parent-company total, Utah-only lending or a measure of deposit safety. Source: FDIC call-report dataset. A Utah headquarters does not imply a public branch at that address.

Background and business

Utah's Department of Financial Institutions authorized Square Financial Services, Inc. to open on March 1, 2021, after the bank satisfied its opening requirements. The agency identifies it as a Utah-chartered, FDIC-insured industrial bank. That describes a regulated banking entity, distinct from the broader Square payments brand. [1]

Square's 2021 banking launch described business loans and a savings product provided through Square Financial Services. Current loan-support material identifies the bank as the underwriter and issuer of Square Loans. Other Square-branded financial products may use different providers, so the branding alone is not enough to determine which institution holds an account or makes a loan. [2] [3]

Our coverage naming this bank

Sources

  1. Utah DFI: March 1, 2021 authorization to open Square Financial Services
  2. Square: July 2021 banking-products announcement
  3. Square support: loan issuer and eligibility disclosures

This profile is informational, not a recommendation to open an account or buy an investment. Rates, fees, current availability and product terms are not tracked here.

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