Zions Bancorporation
 |
|
| Public | |
| Traded as |
NASDAQ: ZION S&P 500 Component |
| Industry | Finance and Insurance |
| Founded | 1873 |
| Headquarters | Salt Lake City, Utah, United States |
|
Key people
|
Harris H. Simmons, President, chairman and CEO |
| Products | Financial Services |
 US$263.791 million (2013) |
|
| Total assets |
US$59.9 Billion (2016) |
|
Number of employees
|
10,452 (2013) |
| Website | zionsbancorporation |
Zions Bancorporation is a bank holding company headquartered in Salt Lake City, Utah, United States. 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, Vectra Bank Colorado, Zions First National Bank, Zions Agricultural Finance, Zions Bank Capital Markets, Zions Credit Corporation, Zions Direct, Zions Management Services Company, Zions Public Finance, Zions Small Business Finance, and Contango Capital Advisors. As of June 30, 2008, it had $54.6 billion in assets and nearly 11,000 employees. It is a member of the S&P 500.
The history of Zions Bancorporation stretches back to the early days of the Mormon settlement of Utah. Zions can trace its history to the founding of Zion's Savings Bank and Trust Company, which was opened in the fall of 1873 by Brigham Young. At the time of the bank's formation, the first settlers had been in the Salt Lake Valley only 26 years and Utah was still 23 years away from statehood. It was the state's first chartered savings bank and trust company. The bank prospered and grew during the next twenty years. In the Panic of 1893, the bank managed not only to remain solvent, but continue to grow.
As the twentieth century began, Zions was making significant contributions to the business community in Utah. Zions helped finance such firms as:
The Panic of 1907 was the lone interruption in the steady growth of Zions. But even with this interruption, deposits grew.
At the time of the Great Crash of 1929, Zions was in a very sound financial position. On the morning of February 15, 1932, customers began a run on the bank, waiting in lines that ran out of the building and onto the street. Tellers were instructed to honor all withdrawal requests. In two and a half days a total of $1.5 million was withdrawn. Near the end of the second day, bank president Heber J. Grant placed a sign in the bank's window that read, in part:
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Wikipedia