| Type | Subsidiary |
|---|---|
| Industry | Banking |
| Founded | 1873 |
| Headquarters | Salt Lake City, U.S. |
| Number of locations | 103 branches (2010) |
| Area served | Utah, Idaho |
| Key people | Scott Anderson, President and CEO |
| Products | Financial services |
| Net income | 47,719 million as of Q2 |
| Employees | 2700 |
| Parent | Zions Bancorporation |
| Website | Zions Bank |
Zions Bank (Zions First National Bank) is an American bank, and a subsidiary of Zions Bancorporation. According to the company, it is the oldest financial institution in Utah.[1] The bank has 103 full-service branches and 150 ATMs, and over 2,700 employees in both Utah and Idaho.[2]
Zion's Savings Bank and Trust Company was started by Brigham Young 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.[2]