Utah’s Commissioner of Financial Institutions Conditionally Approves The Industrial Bank Charter of Stellantis Bank USA

Utah’s Commissioner of Financial Institutions Conditionally Approves The Industrial Bank Charter of Stellantis Bank USA

Salt Lake City – Commissioner Shaun Berrett of Utah’s Department of Financial Institutions today announced the conditional approval of an application to establish Stellantis Bank USA as a Utah state-chartered industrial bank. The approval is conditioned upon, among other things, the applicant obtaining federal deposit insurance from the Federal Deposit Insurance Corporation.

Stellantis Bank USA will provide its services nationwide, offering automotive financing for vehicles, parts, and accessories, as well as FDIC-insured online deposit accounts. The Bank will be headquartered in the Salt Lake City metropolitan area and will join fifteen other industrial banks supervised by the Department.

The Bank will be a wholly owned subsidiary of Stellantis Financial Services U.S. Corp. (“Stellantis Financial Services”), an indirect subsidiary of Stellantis N.V. Stellantis Financial Services holds active consumer lending licenses in most states, making it a significant participant in the automobile financing market. The Bank’s activities will complement Stellantis Financial Services’ ongoing operations.

Utah’s Department of Financial Institutions is responsible for chartering, regulating, supervising, and examining state-chartered financial institutions. The financial services companies and individuals regulated by the Department represent Utah state-chartered Banks, Industrial Banks, Holding Companies, Credit Unions, Trust Companies, Consumer Lenders, Commercial Lenders, Money Transmitters, Mortgage Servicers, Money Services Businesses, and Escrow Companies.

As of March 31, 2026, Utah-chartered depository institutions had combined total assets of $320 billion. Utah’s Department of Financial Institutions charters and regulates the majority of the nation’s industrial bank assets and has supervised these FDIC-insured banks for over 35 years.