Nevada State Bank
One of the most progressive states in America today is Nevada. Dubbed to be America’s Silver State, Nevada is globally known as the gambling capital of the world and one of the most popular destinations tourists from around the globe often frequent. Plush hotels and casinos that offer ultimate gambling and stage show entertainment lit up the city particularly in Las Vegas with its striking colorful and animated neon lights making every tourist around lively and delighted. But before these gambling and entertainment establishments came to being as great tourism attractions of the state, a bank first stood to help build what Nevada is today. And one of these banks is the Nevada State Bank.
Nevada State Bank is the oldest state-chartered bank in Nevada that served as a community development bank, which prioritizes to cater to small and medium-scale clientele. When the bank was founded in 1959, Nevada was just a quiet state that is preparing to blossom for audacity. The bank help fund great business ideas of the time, some of which are the prime establishments and industries that stand today. Many business ideas failed to flourish before the establishment of the bank for the lack of financing opportunity to realize those business ideas. Fortunately, Nevada State Bank came to the rescue.
On December 9, 1959, 12 business owners led by Charles Lee Horsey Jr. grouped together to open Nevada State Bank in the 4th and Carson streets in downtown Las Vegas. Backed with a state charter, the bank sold 24,000 stock shares to local people at a share price of $31.25. This helped them accumulate $600,000 for capital and $150,000 for surplus and reserves. Almost two years later, however, a new set of investors acquired the bank where Harley E. Harmon took the lead and served as President. Twelve years later, the bank managed to expand and became the fourth largest bank in Nevada today.
In the Nevada State Bank online site, the bank highlights its mission of continuously creating financial solutions that would meet the need of its clients. Demonstrating strong leadership and commitment in the communities where they are located as well as taking care and respecting their valued employees also take part of that mission. And finally, providing superior returns to their shareholders is another guiding goal they maintained to follow and preserve through the years after several mergers and acquisitions. It is through these missions that the bank managed to stay in business with high regard, respect, and achievement for almost 50 years. Why not? The bank helped lend money to borrowers who intend to use the loan for a potential economic propeller in the state. The great financial management of the bank also earned the trust of shareholders and depositors who made bank loans for available for would-be small and medium-scale investors in Nevada.
Nevada State Bank is now subsidiary of Zions Bancorporation, which is one of the banking giants in the United States. Zions operates over 450 full-service banking services in eight western states in America. In the latest Nevada State Bank annual report, the bank accounts for more than $4 billion in assets and operates 74 Nevada State Bank locations in the 19 communities in Nevada. Aside from that, the bank also provides stable employment to about 920 people throughout the state.
Of the 74 full-service banking offices, 30 of these are supermarket branches that operate during extended weekday banking hours and open during weekends as well. The bank also boasts as a full-service community development bank that offers a complete range banking services that cater to consumer, small business, real estate, and corporate markets.
So if you go visit Nevada and get amazed with the greatness of its city, remember the bank that helped made it all happen. The economic wealth of Nevada is the Nevada State Bank’s pride.