Annual Report

Consolidated Report of Condition
People's Utah Bankcorp (PUB)
American Fork, Utah

For the Years Ended December 31, 2006 and 2005 (Dollars in Thousands)

Assets	2005	2006
Cash and due	$25,677	$25,205
Fed funds sold	15,301	-
Total cash and cash equivalents	40,978	25,205

Investment securities
Avaliable for sale	98,227	104,147
Held to maturity	1,580	1,475
Total investment securities	99,807	105,622

Federal Home Loan Bank stock	1,023	1,375

Loans	477,734	650,163
Less allowance for loan losses	(6,103)	(9,138)

Total loans, net	471,631	641,025

Net premises and equipment	15,807	16,787
Accured interest receivable	3,666	5,714
Deferred income tax assets	3,101	5,100
Other assets	2,416	635
Total Assets	$638,429	$801,463

Liabilities and Equity Capital
Deposits
Non-interest-bearing deposits	$174,513	$181,325
Interest-bearing deposits	346,183	400,350
Total deposits	520,696	581,675

Short-term borrowing	28,270	115,105
Accrued interest payable	506	917
Dividends payable	1,679	2,413
Other liabilities	1,639	2,188

Total Liabilities	552,790	702,298
Equity
Common Stock	133	132
Additional paid-in capital	5,123	5,571
Retained earnings	80,774	93,559
Accumulated other comprehensive income	(391)	(97)

Total Equity	85,639	99,165

Total Liabilities and Equity Capital	$638,429	$801,463

Member FDIC