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Nearly every man who develops an idea works it up to the point where it looks impossible, and then he gets discouraged. That's not the place to become discouraged.
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Tag Archives: Zions Bank
To the ‘Cheapster’ go the spoils
The race has officially begun for the title of the “Ultimate Cheapster” – an honor that comes with a $10,000 cash prize. Read More
Zions Credit Card Ranks No. 1 for Lowest Ongoing Rate
At a time when many consumers are watching interest rates on their credit cards rise in the aftermath of the Credit Card Act of 2009, Zions Bank’s Low Rate Visa Platinum card has been ranked No. 1 in the country for the lowest ongoing interest rate for consumers with good credit. Zions Bank’s card surpassed 216 others . . . read more Read More
Zions Bank extends first Build America Bond in Idaho
Zions Bank recently facilitated the first Build America Bond in Idaho, assisting Southwest District Health in financing construction of a new 51,100-square foot public health care facility to be located in Caldwell at 13307 Miami Lane. The Build America Bond program, which was created through the American Recovery and Reinvestment Act of 2009, allows . . . read more Read More
FDIC Centennial Bank Press Release
FDIC Approves the Payout of the Insured Deposits of Centennial Bank, Ogden, Utah
The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of Centennial Bank, Ogden, Utah. The bank was closed March 5, 2010 by the Utah Department of Financial Institutions, which appointed the FDIC as receiver.
The FDIC entered into an agreement with Zions First National Bank, Salt Lake City, Utah, to accept the failed bank’s direct deposits from the federal government, such as Social Security and Veterans’ payments . . . read more Read More
Rethinking: The Credit Card Act
Last year, President Obama signed into law the Credit Card Accountability and Disclosure Act of 2009, which includes many provisions that go into effect Feb. 22. The intent of the Card Act was to establish fair and transparent practices pertaining to credits cards. At Zions Bank we have always believed in treating our clients fairly and we welcome this type of legislation.
While the Card Act has resulted in significant changes for many card issuers, the impact to Zions Bank has been minimal since we have never engaged in the “unfair and deceptive” practices addressed in this new law. Let me share with you a few examples of how we’ve approached some of the issues addressed in the Card Act over the years . . . read more Read More
Top Lender for 16 Consecutive Years
Helping infuse small businesses with the capital they need to grow and create jobs, Zions First National Bank announced October 15, 2009 its rank as the top lender of U.S. Small Business Administration (SBA) 7(a) loans in Utah for 2009. Zions has ranked as Utah’s No.1 SBA lender for the past 16 consecutive years. It has also ranked as the top SBA lender in Idaho’s Boise District for the past eight consecutive years.
Zions Bank approved 869 SBA 7(a) loans in Utah totaling $58.7 million for the fiscal year ended Sept. 30, 2009. These loans represent 38 percent of the 2,247 SBA-backed loans approved in the state during fiscal year 2009.
“At a time when questions are being raised about banks’ willingness to make loans, Zions Bank is proud to continue to demonstrate our institution-wide commitment to supporting small businesses as they build and drive our economies,” said Zions Bank President and CEO Scott Anderson. “Even in a challenging environment, the fact that we approved just 40 fewer SBA loans than we did in fiscal year 2008 further demonstrates our willingness to lend to small businesses.” Read More
A Voice for More Regulation & A Cautionary Word
The nation’s banks are among the country’s most heavily regulated industries. Zions Bank, along with all other banks, complies with more than 6,000 pages of regulations intended to protect the safety and soundness of your deposits and the banking system.
So you wouldn’t expect a banker to come out in favor of more regulation. Yet that’s just what I’m doing — up to a point. Read More
New Federally Insured College Savings Plan
In today’s economy, contributing to your child’s college education fund might be causing you more anxiety than peace of mind.
To help you rest at ease, the Utah Educational Savings Plan — in partnership with Zions Bank — has introduced the first-of-its-kind FDIC-insured savings account in the 529 plan realm that doesn’t have minimum deposit or balance requirements and is tax free if you withdraw from it to pay for higher education. Investment-research firm Morningstar Inc. recently named it one of the Top Five 529 savings plans in the country.
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Utah Execs Survey: Bouncing Back from the Recession
Utah business owners anticipate recovery from the effects of the recession will be slow, according to Zions Bank’s latest Utah Quarterly Economic Forecast. The second quarter 2009 study reveals 52 percent of Utah executives say it will take their companies at least one year to bounce back. Another 31 percent of Utah business leaders predict it will take six-to-12 months to recover, and just eight percent believe it can be done in less than six months. Read More
Zions Top Lender of New SBA ARC Loans
Zions First National Bank, a subsidiary of Zions Bancorporation, was the first financial institution in the nation to receive authorization by the U.S. Small Business Administration (SBA) to extend a new America’s Recovery Capital (ARC) loan to a small business client. Zions Bank received approval of an ARC loan application from the SBA on June 15, 2009, the day SBA began offering these loans that provide an immediate infusion of capital to small businesses to assist with making payments of principal and interest on existing debt. Read More
Zions Honored as “Model Bank” for Online Innovations
Zions Bank has won the 2009 Model Bank Award in the category of online account opening from the research and consulting firm Celent. The award was presented at Celent Innovation and Insight Day on June 3 in New York City.
In early 2008, Celent launched its annual Model Bank 2009 award nomination process aimed at answering the question: “What would it look like for a bank to do everything right with today’s technology?” In winning this award, Zions Bank is among 18 financial institutions from across the globe recognized as industry leaders for their best online and technology practices. Read More
Strength in a Continually Challenging Economy
On April 20, 2009, Zions Bancorporation, the holding company for Zions Bank, reported a loss of $832.2 million, or $7.29 per diluted common share. Reflected in these results are the continued effects of the worst financial and economic downturn our country has seen in many years.
While the reported loss for the first quarter is significant, it is important to take a look inside the results to get an accurate picture of the strength of the company’s core banking business. Of the reported loss, $634 million ($5.55 per common share) is a noncash accounting matter — writing off an intangible asset called “goodwill.” The writing off of goodwill occurred in Zions’ Texas affiliate, Amegy Bank, and primarily reflects the decline in market values of peer banks in Texas and a weaker economic outlook for the state. Amegy Bank itself continues to demonstrate solid performance. Read More
Zions Bank Recognized by NADCO
The National Association of Certified Development Companies (NADCO) recently recognized Bank of America and Zions Bank for their extensive participation as first mortgage lenders in the SBA’s 504 loan program. The nation’s Certified Development Companies (CDCs), in partnership with private lenders who provide first mortgages, fund long-term, fixed rate loans for small businesses to acquire commercial real estate through the SBA 504 loan program. Since its inception SBA 504 has funded nearly $40 billion in loans to growing small businesses. Read More
IRAs as Building Blocks—Retirement: 2 of 6
In Part One of this series, Zions Bank Senior Vice President Paul Hansen offered an overview of some key considerations when planning for retirement. In Part Two, Hansen reviews IRAs, the building blocks of a retirement plan.
“After some Zions Bank clients expressed concerns about keeping IRAs open, I realized there was confusion out there,” Hansen says. “An IRA, or Individual Retirement Account, is a vehicle for saving. It’s not the investment itself. IRAs can be used to invest in stocks, bonds, mutual funds, Certificates of Deposit, money market accounts and other investment vehicles such as real estate. When investing in an IRA through a bank, clients can put their money in CDs and money market accounts covered by FDIC insurance for up to $250K.” Read More
