Zions Ban history

In the panic of 1893, the bank managed not only to remain solvent, but continue to grow.

The Panic of 1907 was the lone interruption in the steady growth of Zions.

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.

The company was founded in April 1955 and is headquartered in Salt Lake City, UT.“

At the end of 1957, Zion’s merged with Utah Savings and Trust Company and First National Bank of Salt Lake City.

17, 1961, Zions First National Investment Company was incorporated in Nevada and became the majority owner of the bank stock controlled by the Keystone group.

The holding company's name was changed to Zions Utah Bancorporation in 1965.

Zions went public in January 1966, and has paid a cash dividend to shareholders every year since.

In 1971 Zions Utah Bancorporation merged into Keystone, with Keystone becoming the surviving company.

When he returned from Harvard, he went to work with First National and was named assistant vice president at Zions Utah Bancorporation in 1981.

The bank expanded into Nevada in 1985 with the purchase of Nevada State Bank.

In October of 1986, Zions purchased Mesa Bank and changed the name of its Arizona operations to Zions First National Bank of Arizona.

The losses were so bad that Roy Simmons suspended his $191,000 chairman's salary in 1988 and cut his officer's pay.

As many of its competitors became mired in nonperforming real estate loans, Zions recovered in 1989 as local markets perked up and its loan portfolio improved.

Harris Simmons became chief executive in 1991.

That purchase gave Zions a total asset base of about $630 million in Arizona by 1993 and extended its reach into Phoenix, Tuscon, and Flagstaff.

Similarly, Zions expanded its Nevada State Bank in Las Vegas, increasing its total number of branches to 19 by early 1994.

It expanded into Colorado and New Mexico in 1996 by acquiring Aspen Bancshares, which operated Pitkin County Bank and Trust, Valley National Bank of Cortez, and Centennial Savings Bank.

In 1997, Zions acquired Vectra Banking Corporation and Tri-State Finance Corporation of Colorado.

In October 1998, Zions merged its three California holdings--Sumitomo Bank of California, San Diego-based Grossmont Bank and First Pacific National Bank—to create California Bank and Trust.

In 1999, the company bid for First Security Corporation but lost to Wells Fargo after the United States Securities and Exchange Commission forced Zions to restate its results in prior years due to the way it accounted for acquisitions.

With the merger of First Security Corporation into Wells Fargo in 2000, Zions became the largest bank headquartered in Utah.

In 2005, the company expanded into Texas with the purchase of Amegy Bank.

On October 27, 2008, Zions received a $1.4 billion investment from the United States government as a result of the Troubled Asset Relief Program.

On August 31, 2010, Zions announced the sale of its NetDeposit subsidiary to BankServ.

26, 2012, Zions Bancorporation redeemed its final $700 million of TARP shares.

On June 1, 2015, Zions Bancorporation announced a corporate restructuring, which included the consolidation of seven bank charters into a single charter and $120 million in expense reduction initiatives.

In November 2017, Zions announced plans to merge the holding company and its banking subsidiary ZB, N.A. into one Zions Bancorporation, N.A.