People's Utah Bancorp (PUB) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Exhibit 99.1

PEOPLE’S UTAH BANCORP REPORTS SECOND QUARTER RESULTS AND ANNOUNCES INCREASED QUARTERLY DIVIDEND PAYMENT

Second Quarter Highlights

AMERICAN FORK, UTAH, July 26, 2018 – People’s Utah Bancorp (the “Company” or “PUB”) (Nasdaq: PUB)

The Company has excluded non-recurring items including gains or losses on sale of investment securities; costs related to the acquisition of the Utah branches of Banner Bank and the merger of Town & Country Bank incurred in both 2017 and 2018; and higher income tax expense related to the one-time write-down of its deferred income tax assets recorded in 2017 to derive non-GAAP financial information related to the Company’s core operations.  The Company believes this non-GAAP^(NG) financial information is useful in understanding the Company’s core financial performance.

Net income from core operations was $10.2 million, or $0.54 per diluted common share, for the second quarter of 2018 compared with $9.3 million, or $0.49 per diluted common share, for the first quarter of 2018 and $6.6 million, or $0.36 per diluted common share, for the second quarter of 2017^(NG).  For the six months ended June 30, 2018 net income from core operations was $19.5 million, or $1.03 per diluted common share, compared with $13.1 million, or $0.72 per diluted common share, for the same period a year earlier^(NG).

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^(NG) Details on Non-GAAP financial information are on last three tables of this press release.