1 starsAverage User Rating:
Based on 1 user review.

Zions Bank

One South Main Street
Salt Lake City, UT 84133
1-800-974-8800
www.zionsbank.com



Zions Bank was founded by Mormon pioneers in Utah in 1873. In 1957, Zion’s Savings Bank and Trust Company (as it was known) merged with Utah Savings and Trust Company and First National Bank of Salt Lake City. It became Zions First National Bank – which is the bank’s official name today. However, it wasn’t until 1960 that the LDS Church sold its majority ownership to Keystone Insurance and Investment Company. In 1961, Zions First Nation Investment Company was incorporated in Nevada, and acquired ownership of the stock owned by Keystone. In 1965, the investment company changed its name to Zions Bancorporation, and in 1966, the company went public.

Today, Zions First National Bank is still a subsidiary of Zions Bancorporation. Zions is a full service bank, offering commercial services, consumer banking products, and business banking to its customers. Specialty services include ag finance, correspondent banking and private services. Nationwide, it is possible to access Zions Bank services via the Internet. There are offices in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington.

Zions Bank offers competitive interest rates on deposit accounts, including savings, money market and CD accounts. The bank also offers interest checking accounts. The bank did accept TARP funds after the 2008 financial crisis, but has since repaid them.

Related Posts

Class Action Accuses Zions Bank Of 'Unconscionable' Debit Card Overdraft Fees (Forum) - 10/7/2011

Three law firms file suit, and seek class action for it, accusing Zions Bank in Utah and Idaho of making it difficult or even impossible to avoid debit card overdraft fees. Zions Bank sued in Utah over 'unconscionable' fees - Yahoo! Finance The accusa

Zions Internet Savings Account Yield Falls From 1.11% To 1.06% (Forum) - 2/16/2011

Zions Bank reduced its Internet Savings Account yield from 1.11% to 1.06% APY for balances of at least $1,000. The 1.11% APY had held since April 2010.

How Rates Have Held up at the Largest Internet Banks - 2/7/2011

I thought it would be interesting to review the recent rate history of the internet savings accounts from the largest banks. I only included the banks with at least $10 billion in deposits. They didn' ...

Zions Bank Raises the Yield on its Deseret Money Market Account - 6/19/2008

Update 7/11/09: Zions Bank's Internet Money Market has replaced the Deseret MMA. Rates have fallen over the last year. For the latest rate cut the APY fell from 1.87% to 1.51% for balances of $2,500 and above. Refer to the bank's website for the latest...

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See Rates for: Checking | Savings | Money Market | CD | IRA

Zions Bank Checking Account Rates

ApyMinMaxProduct
0.20%$100k-Gold Checking Plus
0.15%$100k-Gold Interest Checking

Zions Bank Savings Account Rates

ApyMinMaxProduct
0.70%$1k-Internet Savings
0.36%-$2kStudent Savings
0.36%-$1kKids Savings
0.30%$5k-Ultimate Savings
0.15%--Gold Statement Savings
0.10%--Statement Savings
0.10%--Business Statement Savings

Zions Bank Money Market Rates

ApyMinMaxProduct
0.70%$100-Internet IRA Money Market
0.70%$2,500-Internet Money Market
0.45%$250k-Gold Money Market Plus
0.35%$250k-Gold Money Market Account
0.25%$250k-Money Market Account
0.25%$100-IRA Money Market
0.20%$100k-Business Money Market
0.15%$100k-Business Internet Money Market

Zions Bank CD Rates

ApyMinMaxProduct
1.05%$1k-5 Year Gold CD
1.05%$1k-5 Year Internet CD
1.05%$1k-Business 5 Year Internet CD
0.90%$1k-5 Year Regular CD
0.90%$1k-Business 5 Year Regular CD
0.85%$1k-4 Year Gold CD
0.85%$1k-4 Year Internet CD
0.85%$1k-Business 4 Year Internet CD
0.70%$1k-4 Year Regular CD
0.70%$1k-Business 4 Year Regular CD
0.60%$1k-3 Year Gold CD
0.60%$1k-3 Year Internet CD
0.60%$1k-Business 3 Year Internet CD
0.50%$1k-1 Year Gold CD
0.50%$1k-2 Year Gold CD
0.50%$1k-1 Year Internet CD
0.50%$1k-Business 1 Year Internet CD
0.50%$1k-18 Month Internet CD
0.50%$1k-2 Year Internet CD
0.50%$1k-Business 18 Month Internet CD
0.50%$1k-Business 2 Year Internet CD
0.45%$1k-3 Year Regular CD
0.45%$1k-Business 3 Year Regular CD
0.40%$1k-9 Month Internet CD
0.40%$1k-Business 9 Month Internet CD
0.35%$1k-1 Year Regular CD
0.35%$1k-2 Year Regular CD
0.35%$1k-Business 1 Year Regular CD
0.35%$1k-Business 2 Year Regular CD
0.25%$1k-6 Month Gold CD
0.25%$1k-6 Month Internet CD
0.25%$1k-Business 6 Month Internet CD
0.20%$1k-6 Month Regular CD
0.20%$1k-6 Month Regular CD
0.10%$1k-3 Month Regular CD
0.10%$1k-3 Month Gold CD
0.10%--14 Day Regular CD
0.10%--14 Day Gold CD
0.10%--15 Day Regular CD
0.10%--15 Day Gold CD
0.10%$1k-3 Month Internet CD
0.10%$1k-Business 3 Month Internet CD
0.10%--Business 14 Day Regular CD
0.10%--Business 15 Day Regular CD
0.10%$1k-3 Month Regular CD

Zions Bank IRA Rates

ApyMinMaxProduct
1.05%$1k-5 Year Internet IRA Certificate
0.90%$1k-5 Year IRA Certificate
0.85%$1k-4 Year Internet IRA Certificate
0.70%$1k-4 Year IRA Certificate
0.60%$1k-3 Year Internet IRA Certificate
0.50%$1k-1 Year Internet IRA Certificate
0.50%$1k-2 Year Internet IRA Certificate
0.45%$1k-3 Year IRA Certificate
0.35%$1k-1 Year IRA Certificate
0.35%$1k-2 Year IRA Certificate
0.25%$1k-6 Month Internet IRA Certificate
0.20%$1k-6 Month IRA Certificate
0.10%$1k-3 Month Internet IRA Certificate
0.10%$1k-3 Month IRA Certificate

Rates updated: 2/7/2012

Data for Q3 2011


Institution Statistics


Zions First National Bank
FDIC Certificate #2270
BankRate ReportView
Year Established1873
Employees2496
Primary RegulatorOCC

Assets and Liabilities

Assets$16.17 billion
Loans$12.42 billion
Deposits$13.63 billion
Equity Capital$1.83 billion
Loan Loss Allowance$341.08 million
Unbacked Noncurrent Loans$312.34 million
Real Estate Owned$60.75 million

Historic Data - September 2010

Assets$17.09 billion
Equity Capital$1.75 billion
Loan Loss Allowance$398.68 million
Unbacked Noncurrent Loans$566.09 million
Real Estate Owned$131.31 million

Profit Margin - Quarterly

Net Interest Margin4.62%
Return on Assets0.99%
Return on Equity9.03%
Interest Income$568.03 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio3
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Zions Bank had $373.08 million in non-current loans and owned real-estate with $2.17 billion in equity and loan loss allowances on hand to cover it. This gives Zions Bank a Texas Ratio of 17.19% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for Zions Bank decreased significantly from 32.69% as of September 30, 2010 to 17.19% as of September 30, 2011, resulting in a positive change of 47.41%.This indicates that the balance sheet and financial strength for Zions Bank has improved significantly in recent periods.
Deposit Growth1
In the past year, Zions Bank has decreased its total deposits by -$850.56 million, resulting in -5.87% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Zions Bank has shown is poor.
Capitalization5
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Zions Bank has $16.17 billion in assets with $2.17 billion in equity, resulting in a capitalization level of 13.42%, which is excellent.
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Why I'm Leaving Zions - The Last Straw
1 stars - DebbieEddy - Saturday, November 19, 2011 - 3:12 PM

I've been frustrated for years with Zions' policy of selectively processing payments to cause as many of them to go into insufficient funds status as possible.  That policy is designed to maximum the insufficient funds fees they collect from their members.  Finally, a class action suit is being brought against them (just google "zions bank class action" for details).  This is especially sad because the bank is owned in part by the Mormon Church.

The last straw came last week when Zions informed me by mail that my free checking account was now going to cost me $7.00 a month.  They gave me one month notice, so now I'm scrambling to change my banking over to a credit union.  With several automatic payments I had set up with Zions, this is not a quick task.

Anyway, be forewarned. 

 

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