Zions Bank, a subsidiary of Zions Bancorporation, is a national bank headquartered in Salt Lake City, Utah. It operates as a national bank rather than a bank holding company and conducts business under seven different brands, including Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington.
Key Facts
- Zions Bank is a part of Zions Bancorporation, which is a U.S. financial services company.
- Zions Bancorporation operates under seven different brands, including Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington.
- Zions Bank has 416 branches and serves over 1 million customers.
- The bank was founded by the Church of Jesus Christ of Latter-day Saints (LDS Church) in 1873, but the church divested its interest in the bank in 1960.
- Zions Bank has a long history, surviving events like the Panic of 1893 and the Great Depression.
- Over the years, Zions Bank has expanded its operations through mergers and acquisitions, entering states like Nevada, Arizona, Colorado, and Texas.
- In 2008, Zions Bank received a $1.4 billion investment from the U.S. government as part of the Troubled Asset Relief Program.
History
Zions Bank was established in 1873 by the Church of Jesus Christ of Latter-day Saints (LDS Church) to take over the savings department of the Deseret National Bank. The bank’s initial purpose was to encourage immigration to Utah and further the financial interests of the church.
In 1960, the LDS Church divested its interest in the bank, and it became a publicly traded company. Zions Bank has since expanded its operations through mergers and acquisitions, entering states like Nevada, Arizona, Colorado, and Texas.
Services
Zions Bank offers a range of financial services, including personal and business banking, lending, investment, and wealth management. It has 416 branches and serves over 1 million customers.
Financial Performance
Zions Bank is a financially sound institution with a strong track record of profitability. In 2022, it reported revenue of $2.705 billion and net income of $907 million.
Conclusion
Zions Bank is a major financial institution with a long and rich history. It plays a vital role in the financial landscape of Utah and the surrounding states, providing a wide range of financial services to its customers.
References
FAQs
Where is Zions Bank headquartered?
Zions Bank is headquartered in Salt Lake City, Utah.
In which states does Zions Bank have branches?
Zions Bank has branches in Utah, Idaho, Wyoming, Colorado, Nevada, Arizona, New Mexico, and Texas.
How many branches does Zions Bank have?
Zions Bank has 416 branches.