Zions Bank
Encyclopedia
Zions Bank is an American bank, and a subsidiary of Zions Bancorporation
. According to the company, it is the oldest financial institution in Utah
. The bank has 103 full-service branches and 150 ATMs, and over 2,700 employees in both Utah and Idaho.
on July 10, 1873. This became Utah's first chartered savings bank and trust company. The bank recorded $5,876.20 on their first day of business on October 1, 1873. On December 31, 1957, Zion's Savings Bank and Trust Company (1873), Utah Savings and Trust Company (1889) and First National Bank of Salt Lake City (1890) became Zions First National Bank. When the three banks merged, the apostrophe in Zion's was dropped.
On April 22, 1960, The Church of Jesus Christ of Latter-day Saints decided to sell a majority of Zions First National Bank to Keystone Insurance and Investment Company. With a total deposit of under $120 million, the owners of Keystone (Leland B. Flint, Roy W. Simmons and Judson S. Sayre) took over the bank. Zions First National Investment Company became the majority owner of the bank stock in Nevada on February 17, 1961. Still under the control of the Keystone group, the investment company became Zions Bancorporation in 1965. Zions Bancorporation went public for the first time in January 1966. There were some minority shareholders of Zions First National Bank, but in April 1972 all of the remaining shares were exchanged for Zions Bancorporation shares.
Zions Bancorporation
Zions Bancorporation is a member of the S&P 500, a bank holding company headquartered in Salt Lake City, Utah, USA. Among its subsidiaries are Amegy Bank of Texas, California Bank & Trust, National Bank of Arizona, Nevada State Bank, the Commerce Bank of Oregon, the Commerce Bank of Washington,...
. According to the company, it is the oldest financial institution in Utah
Utah
Utah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...
. The bank has 103 full-service branches and 150 ATMs, and over 2,700 employees in both Utah and Idaho.
History
Zion's Savings Bank and Trust Company was started by Brigham YoungBrigham Young
Brigham Young was an American leader in the Latter Day Saint movement and a settler of the Western United States. He was the President of The Church of Jesus Christ of Latter-day Saints from 1847 until his death in 1877, he founded Salt Lake City, and he served as the first governor of the Utah...
on July 10, 1873. This became Utah's first chartered savings bank and trust company. The bank recorded $5,876.20 on their first day of business on October 1, 1873. On December 31, 1957, Zion's Savings Bank and Trust Company (1873), Utah Savings and Trust Company (1889) and First National Bank of Salt Lake City (1890) became Zions First National Bank. When the three banks merged, the apostrophe in Zion's was dropped.
On April 22, 1960, The Church of Jesus Christ of Latter-day Saints decided to sell a majority of Zions First National Bank to Keystone Insurance and Investment Company. With a total deposit of under $120 million, the owners of Keystone (Leland B. Flint, Roy W. Simmons and Judson S. Sayre) took over the bank. Zions First National Investment Company became the majority owner of the bank stock in Nevada on February 17, 1961. Still under the control of the Keystone group, the investment company became Zions Bancorporation in 1965. Zions Bancorporation went public for the first time in January 1966. There were some minority shareholders of Zions First National Bank, but in April 1972 all of the remaining shares were exchanged for Zions Bancorporation shares.