Zions Bank Boise, Idaho
Zions Bank Boise, Idaho

Zions Bank in Boise, Idaho is a relatively new architectural beauty spot in this rather level city and provides a lot of services apart from being a bank. However, this article focuses on Zions Bank and what It has to offer.

The Company

Zions Bancorporation (ZION.O) is the name of the banks holding company, and it is headquartered in Salt Lake City, Utah. Today it holds the prestige of being one of the largest banks in the United States.

The current, President and Chief Executive Officer (CEO) is A. Scott Anderson, and the Chairman/CEO of Zions Bancorporation is Harris H. Simmons, and the salient points are:

  • Revenue increase in 2017: $2.609 billion
  • Net income increases in 2017: $0.592 billion
  • Total assets in 2017: $66.288 billion
  • Total equity in 2017: $7.113 billion
  • Number of employees in 2017: 10,083

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A. Scott Anderson, President, and CEO

A Brief History

Zions Bank was originally founded by the famous and prominent First Governor of the State of Idaho, and head of the LDS Church, Brigham Young in 1873, four years before his death. The newly founded bank was called Zion’s Savings Bank and Trust Company.

Zions was one of the few financial institutions to be strong enough to survive and even thrive through two great calamities, the panic of 1907, where it thrived, and deposits grew from $2 million to $9 million. Then during the Great Depression, starting in 1932, the lines of customers soon realized that their money was safe, and while they managed to withdraw $1.5 million in two and half days, they stopped when realizing that the bank had enough reserves to pay out all customers and continue to thrive.

In 1957, the bank merged with Utah Savings and Trust Company, and the First National Bank of Salt Lake City and the new company was called Zions First National Bank. This newly formed merger held $109.5 million in deposits.

In 1960, the LDS sold its holdings in the company, and from April 22, 1960, Zions majority shareholder was Keystone Insurance and Investment Company. This new company leadership too Zions onto a national expedition and they started to open branches in other states, starting with Nevada. In 1965 the name was changed once more, to Zions Bancorporation and is now found in 10 Western and Southwestern states including; Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, and Washington.

Zions Bancorporation has several subsidiaries, and these include:

  • Amegy Bank of Texas
  • California Bank and Trust
  • National Bank of Arizona
  • Nevada State Bank
  • Vectra Bank Colorado
  • Zions Bank
  • Zions Direct

Boise Idaho

The branch in Boise Idaho is found at 800 W Main St, Boise, ID 83702. The branch delivers services to all customers during their working hours but is closed on Saturday and Sunday. This branch was built from the ground up in a grand building that led to the skyline of Boise and is an attractive and lucrative business center.

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Boise Idaho Branch at Night, and at Day

The bank provides a plethora of facilities and splits these services into three categories: Personal, Business, and Wealth.

Personal Banking

In this section, the bank provides customers with a plethora of digital banking options, including internet-based access and control. Checking and savings accounts, home loans and various credit-based services including cards and other loans.

The bank also provides a trust service and has an online community news section that updates customers of all the banks local and national activities for and with the community.

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The Boise Idaho Entrance

Business Banking

As with personal banking, but for companies and legally formed entities, this section of the bank’s services expands to include digital payment solutions via various technologies.

Wealth and Investment

Apart from the standard banking services provided, in the bank also provides wealth planning and investment management portfolios for customers seeking more profitable solutions for their savings.

ATMS

There are over 200 ATMs spread around all the bank locations as well as in private locations including

  • Throughout Salt Lake City Creek Center
  • Vivint Smart Home Arena — home of the Utah Jazz
  • Rio Tinto Stadium — home of Real Salt Lake
  • Smith’s Ballpark — home of the Salt Lake Bees
  • Local universities and college bookstores

In the words of Zions

“Zions Is A Collection of Community Banks”

Bank Headquarters Avg Deposits % of Total

  • Zions Bank Salt Lake City $16B 31%
  • Amegy Houston $11B 22%
  • CB&T San Diego $11B 22%
  • NB│AZ Phoenix $5B 9%
  • NSB Las Vegas $4B 8%
  • Vectra Denver $3B 5%
  • Commerce Seattle $1B 2%

Zions Bancorporation Salt Lake City $52B 100%

In a recent presentation, made by the bank, they state that they intend to eliminate duplicative regulatory oversight and enhances capital flexibility by merging the parent company into a Bank Subsidiary. This will need OCC and FDIC approval; the request has been filed with the FSOC. The main reason is that they intend to show that the bank is not “systemically important,” as such it would eliminate Federal Reserve oversight and also reduce duplicative regulatory exams. This would lead the senior management time to be focused on customer-centric issues that lead to an increase in flexible capital management.

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Conclusions

Zions Bancorporation is a constantly evolving financial institution that does not follow in the lines of the other mainstream banks. They do not go into “dodgy” credit leading methods that will destabilize their customers. Zions is about the customer, and the stronger their customer base, the stronger the bank. While the bank is a publicly traded financial institution it still retains some of its moral codes from the days of Brigham Young, and don’t get me wrong, he was no saint. Brigham Young was an extremely effective leader, administrator, organizer, and politician that just happened to be the leader of a church, and a successful one due to his management.