Zions Bank
We haven’t forgotten who keeps us in business. This is the slogan of Zions Bank that is bannered on the company’s homepage. The slogan is kind of touching, all the more, this statement bears the company’s commitment.
Zions Bank is a financial services provider for Idaho and Utah for many years now. It currently runs one hundred thirty three branches in both States. Zions Bank collaborates with retailers such as the Drug Centers and Smith’s Food to spread out its banking outlets. Its network now includes a combined thirty one supermarket outlets. Zions fleet of automated telling machines has now grown to over a hundred eighty in Idaho and Utah. The company is an employer of about two thousand three hundred workers in all its branches.
Zions Bank headquarters are situated in Salt Lake City, Utah. Its growing and continuing success in the two neighboring States is largely credited to its vigorous and able leaders. Heading the Zions Corporate Governance are A. Scott Anderson, the Chief Executive Officer and President and Harris H. Simmons, Zions’ Chair.
The Zions Bancorporation is the holding company of Zions First National Bank. Its parent company has a total of four hundred fifty complete-service banking centers in Washington, Texas, Utah, Oregon, New Mexico, Nevada, Idaho, Colorado, California, Arizona. The Zions Bank brand operates only in Idaho and Utah. As a complete financial service company, Zions provides personal and business needs like mortgage and installment loans, commercial loans, trust services, foreign banking and insurance services, Zions Bank online banking and electronic banking, automated deposit, fund transfer services, nationwide banking, savings and checking programs.
Zions Bank first started its banking venture in the year 1873. The company was then called the Zion’s Savings Bank and Trust Company. Through the leadership of Brigham Young, the company became the very first bank to be chartered in Utah. Just barely months after its opening, the company was able to record $5,876.20 worth of deposits. It was a good sign for the company and indeed it was. Even through the days of the great depression in 1929, the company persevered and prospered.
By the second half of the 20th century, a major turning point in the company’s history took place. The First National Bank of Salt Lake City, the Utah Savings and Trust Company and Zion’s Savings Bank and Trust Company agree to merge on the 31st December, 1957. This merger resulted to the creation of the Zions First National Bank. The combined deposits of the three companies amounted to $109.5 million.
Despite its growing success, the owners of Zions First National Bank, who were the leaders of a religious organization in Utah, disassociated themselves with the banking trade. In the 22nd of April, 1960, the organization sold majority of Zions to insurance and investment firm in Utah. The Keystone Insurance and Investment Company now owned Zions’ $120 million total deposits.
Keystone Company incorporated Zions in 1961 and formed the Zions Bancorporation. The corporation now has major banking transactions in 10 American States in the west from Arizona to Washington. Aside from its fleet of well known services, Zions Bancorporation also conducts activities like mortgage, investment and insurance transaction for small business owners in other markets in the US.
In addition to its banking services, Zions has a subsidiary called the Digital Signature Trust which offers credentials for trusted Internet identity. The Zions Bank Web Access is one of its leading electronic banking offerings along with electronics municipal bond trade. In the West of Mississippi River, Zions is considered the sole dealer of government securities.
Over the course of its operation, one man instilled a simple but impacting principle on the hearts of Zions employees and that is to never forget the people who keep the company in business.