Zions Bancorporation
A Utah-based national bank serving businesses, consumers, and communities across the Western and Southwestern United States through seven regional banking brands.
Last updated August 21, 2026
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Overview
Zions Bancorporation is an American national bank headquartered in Salt Lake City, Utah. Founded in 1873 by The Church of Jesus Christ of Latter-day Saints, it began as a savings institution intended to support settlement, immigration, and the economic development of Utah. The institution later became a publicly traded banking organization and expanded beyond Utah through acquisitions and the development of regional bank brands. The company operates under seven principal brands: Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington. Together, these franchises provide commercial and small-business banking, consumer and retail banking, deposits, mortgage and other lending, treasury management, wealth-related services, and specialized financial services. The organization has historically emphasized relationship banking, particularly for privately held businesses, professionals, middle-market companies, and consumers in regional markets. Zions remained solvent during the Panic of 1893 and experienced only a temporary interruption in growth during the Panic of 1907. In the early twentieth century, it financed infrastructure and industrial enterprises in Utah, including copper, railroad, power, and gas businesses. During the Great Depression, the bank survived a major depositor run in February 1932 after honoring withdrawal requests and publicly assuring customers of its liquidity. The bank consolidated with Utah Savings and Trust Company and First National Bank of Salt Lake City in 1957, becoming Zions First National Bank. In 1960, the LDS Church sold its controlling interest to Keystone Insurance and Investment Company and other investors. The organization adopted the Zions Bancorporation name in 1965, became publicly traded in 1966, and pursued a long period of regional expansion. Acquisitions added operations in Nevada, Arizona, Colorado, Idaho, New Mexico, and Texas, including Amegy Bank in 2005. The company also acquired branches from Wells Fargo and Vectra Banking Corporation during the 1990s. Zions received $1.4 billion through the U.S. government's Troubled Asset Relief Program in 2008 during the financial crisis. It repaid the final $700 million in 2012, and the government reported a profit on the investment. In 2015, the company announced a restructuring that consolidated seven bank charters into one and targeted $120 million in expense reductions. In 2018, the holding company and its principal banking subsidiary were merged into Zions Bancorporation, N.A. As of 2023, the organization had 416 branches and more than one million customers, with its business concentrated in the Western United States. It is positioned as a multi-brand regional banking network rather than a nationwide mass-market bank, using locally recognized franchises while sharing the resources and infrastructure of a larger banking organization.
History
Zion's Savings Bank & Trust Company was established in July 1873 by The Church of Jesus Christ of Latter-day Saints to assume the savings business associated with Deseret National Bank. It opened on October 1, 1873, with 46 depositors and $5,876 in deposits. Brigham Young, then president of the LDS Church, became its first president. The bank was intended to encourage immigration to Utah and strengthen the financial base of the church and the developing territory. The institution survived the Panic of 1893 and continued to grow during the following decades. Its early financing supported important Utah enterprises, including Bingham Copper Company, the Salt Lake and Los Angeles Railroad, Big Cottonwood Power Company, and Salt Lake Gas Company. The Panic of 1907 temporarily interrupted growth, but deposits rose from approximately $2 million in 1901 to $9 million in 1918. The bank faced a severe test during the Great Depression. On February 15, 1932, customers began withdrawing funds in large numbers, creating lines that extended outside the bank. Tellers were instructed to honor requests, and approximately $1.5 million was withdrawn over two and a half days. Heber J. Grant, who led both the bank and the LDS Church, publicly stated that the institution was liquid and able to pay depositors in full. The run subsided, customers returned funds, and deposits exceeded withdrawals by the end of the month. In 1957, Zion's Savings Bank merged with Utah Savings and Trust Company and First National Bank of Salt Lake City. The surviving organization became Zions First National Bank. In 1960, Keystone Insurance and Investment Company and individual investors acquired a 57.5 percent interest from the LDS Church. The organization changed its name to Zions Bancorporation in 1965, although it used the name Zions Utah Bancorporation from 1966 through 1987. It completed an initial public offering in January 1966, with remaining minority interests exchanged for common shares in 1972. Zions expanded through a series of acquisitions. It entered Nevada with Nevada State Bank in 1985, Arizona through Mesa Bank in 1986, and Colorado and New Mexico in 1996 through Aspen Bancshares. In 1997 it bought 27 branches from Wells Fargo, acquired Tri-State Bank of Idaho, and purchased Vectra Banking Corporation and Tri-State Finance Corporation of Colorado. The company attempted to acquire First Security Corporation in 1999, but the transaction was delayed after regulators required revisions to Zions' earlier acquisition accounting. Shareholders ultimately rejected the transaction, and Wells Fargo acquired First Security in 2000. Zions nevertheless became the largest bank headquartered in Utah. Its 2005 acquisition of Amegy Bank extended the franchise into Texas. During the 2008 financial crisis, Zions received $1.4 billion under TARP. It repaid the last $700 million in September 2012, with the government making a reported profit. In 2010, it sold the NetDeposit business to BankServ. In 2011, Zions Bank paid civil penalties exceeding $8 million after an OCC investigation concerning weaknesses in compliance with rules related to possible money laundering. The company stated that investigators had found no actual illegal activity and that the failures were not intentional. In 2015, Zions announced a major organizational restructuring. Seven bank charters were to be consolidated into a single charter, alongside a cost-reduction initiative projected at $120 million. In October 2018, Zions merged the holding company and ZB, N.A. into Zions Bancorporation, N.A. The resulting national bank continues to operate through seven regional brands. By 2023, it had 416 branches and more than one million customers, primarily across the Western United States.
- 2023
Operates 416 branches and serves more than one million customers
[1]The organization reported a seven-brand network with 416 branches and over one million customers, concentrated in the Western United States.
- 2018
Legal merger into Zions Bancorporation, N.A.
[1]The holding company and ZB, N.A. were merged into Zions Bancorporation, N.A.
- 2015
Announces charter consolidation
[1]The company announced plans to consolidate seven bank charters and pursue $120 million in expense reductions.
- 2012
Completes TARP repayment
[1]Zions repaid the final $700 million of its TARP investment.
- 2008
Receives TARP support
[1]Zions received $1.4 billion through the U.S. government's Troubled Asset Relief Program.
- 2005
Amegy Bank acquisition
[1]The company expanded into Texas by acquiring Amegy Bank.
- 1997
Major multi-state expansion
[1]Zions acquired branches from Wells Fargo, Tri-State Bank of Idaho, and Vectra Banking Corporation and Tri-State Finance Corporation of Colorado.
- 1985
Expansion into Nevada
[1]The acquisition of Nevada State Bank established a major out-of-state banking presence.
- 1966
Initial public offering
[1]Zions became a public company through an initial public offering.
- 1965
Organization adopts the Zions Bancorporation name
[1]The company changed its name to Zions Bancorporation, later using Zions Utah Bancorporation for part of the period through 1987.
Products and positioning
A multi-brand regional banking organization focused on relationship-based commercial, small-business, consumer, and community banking in the Western and Southwestern United States.
Banking services
Commercial banking
Commercial banking is a central part of the Zions network. Regional brands serve privately held companies, middle-market businesses, professionals, and other organizations with operating accounts, deposits, credit facilities, working-capital finance, equipment and real-estate lending, and related relationship-management services.
Banking services
Consumer and retail banking
Consumer banking includes deposit accounts and everyday banking services for individuals and households. Customers are served through branch networks and other banking channels under brands such as Zions Bank, Nevada State Bank, National Bank of Arizona, and the company's other regional franchises.
Lending
Mortgage and other lending
The organization provides mortgage-related and other consumer lending alongside commercial credit. Lending capabilities support homebuyers, consumers, small businesses, commercial property owners, and larger operating companies across its geographic markets.
Business financial services
Treasury management
Treasury and cash-management services help business customers manage collections, payments, liquidity, and operating accounts. These services complement the company's relationship-based commercial banking model.
Wealth management
Wealth and investment services
Zions offers wealth-related and investment services as part of its broader financial-services range, supporting individuals, families, and business owners with financial planning and related advisory needs where available through its regional brands.
Controversies
2011
Anti-money-laundering compliance penalties
Zions Bank paid more than $8 million in civil penalties after an OCC fraud-division investigation alleged failures to follow regulations concerning possible money-laundering activity. Zions' then chief executive Harris Simmons said the investigation identified no actual illegal activity and that the compliance failures were not intentional.
Brand decisions
2018
Merges holding company and banking subsidiaryM&ABackground
The company continued the legal simplification announced in 2015.
Action taken
Zions merged the holding company and ZB, N.A. into Zions Bancorporation, N.A.
Aftermath
The organization operates as a national bank using seven regional brands.
2015
Consolidates seven bank chartersStrategyBackground
Zions operated through multiple bank charters and announced a plan to simplify its legal and operating structure.
Action taken
The company announced consolidation into a single charter together with initiatives intended to reduce expenses by $120 million.
Aftermath
The restructuring was followed in 2018 by the merger of the holding company and ZB, N.A. into Zions Bancorporation, N.A.
Targeted expense reductions. $120 million (2015 announcement)
2008
Accepts Troubled Asset Relief Program fundingOtherBackground
The global financial crisis created severe pressure across the banking sector and prompted U.S. government capital support for financial institutions.
Action taken
Zions received $1.4 billion through TARP and later repaid the final $700 million in 2012.
Aftermath
The government reportedly realized a $253 million profit on the investment.
TARP funding received. $1.4 billion (October 27, 2008)
1999
Bid for First Security CorporationM&ABackground
Zions sought to acquire First Security Corporation in a proposed transaction initially valued at approximately $5.9 billion. The process was complicated by accounting revisions requested by federal regulators and a subsequent decline in First Security's share price.
Action taken
Zions revised the implied value of the proposed transaction as market conditions changed, but its shareholders ultimately rejected the merger.
Aftermath
Wells Fargo later agreed to acquire First Security in April 2000. Zions remained the largest bank headquartered in Utah.
Proposed transaction value. $5.9 billion → $3.8 billion (1999 to March 2000)
- Wells Fargo — Wells Fargo ultimately agreed to acquire First Security after the Zions transaction failed.
Recent events
- 2018
Zions completes merger of holding company and banking subsidiary[1]
M&A
Zions merged its holding company and banking subsidiary ZB, N.A. into Zions Bancorporation, N.A.
- 2015
Zions announces consolidation of bank charters and cost-reduction program[1]
Other
The company announced a restructuring that would consolidate seven bank charters into one and pursue approximately $120 million in expense reductions.
- 2012
Zions repays final TARP funds[1]
Other
The bank repaid the remaining $700 million of its TARP investment; the government realized a reported $253 million profit.
- 2008
Zions Bancorporation receives Troubled Asset Relief Program funding[1]
Other
Zions received $1.4 billion in U.S. government support through the Troubled Asset Relief Program during the financial crisis.
Sources2 sources
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