Two Decades in the Gem State
Zions Bank celebrates 20 years serving Idaho communities.
Zions Bank has been serving the communities of the Intermountain West for more than 140 years, and July marks two decades since it began operating in Idaho. Since that time, Zions has grown to be a leading provider of financial services in the Gem State.
In July 1997, Zions Bancorporation announced its purchase of 10 Wells Fargo Bank branches in rural locations throughout Idaho, as well as Tri-State Bank, which had three offices in Eastern Idaho. Zions was ranked 10th in total market share based on deposits following these acquisitions. Since then, Zions Bank has established itself as a longstanding champion of small businesses and a committed community partner.
Today it ranks third in total deposit market share among Idaho’s banks, according to the FDIC. In addition, the bank has demonstrated its commitment to the marketplace by continuing to open branches around the state, now operating 23 full-service financial centers and 46 ATMs.
Small Business Champion
Zions Bank in Idaho has continued its legacy of helping entrepreneurs dream big, fueling job growth and strengthening the local economy. For the past 15 consecutive years, Zions Bank has ranked as the U.S. Small Business Administration’s 7(a) Lender of the Year for the Boise District, which encompasses most of the state. In 2016, Zions Bank approved 85 loans totaling more than $22.5 million to help fund local small businesses.
Cumulatively during the past two decades, Zions Bank has approved 2,217 SBA 7(a) loans in Idaho, totaling more than $245 million to support small business growth. These dollars helped create 4,082 new jobs and retain 14,066 existing jobs, according to the SBA.
In addition to lending, Zions Bank supports local small business growth by operating the Idaho Business Resource Center and presents “Speaking on Business,” a radio program that features business success stories broadcast on more than a dozen stations statewide.
Idaho Agriculture Supporter
Because of Zions Bank’s commitment to bringing value to the communities it serves, it has focused on bolstering local farmers, ranchers and agribusiness owners since entering Idaho.
“From the beginning, we have made it our mission to support the success of our ag clients,” says Doug Flint, who served as senior vice president and director of commercial banking in the Eastern Idaho region from 2006 to 2017. “Today, agricultural loans represent one-third of Zions Bank’s commercial lending in our state.”
During the past decade alone, the company’s ag portfolio has increased more than 120 percent. “Our officers understand the challenges of the industry and remain dedicated to helping Idaho’s farming businesses grow and thrive,” Flint says.
Zions Bank currently employs more than 300 people throughout Idaho, an impressive increase from the initial 40 who started in 1997. It was voted one of the Top 10 “Best Places to Work in Idaho” this year.
“Strong support from senior management, a competitive product array and exceptional employees have enabled Zions Bank to flourish in Idaho over the last 20 years,” says Zions Bank President and CEO Scott Anderson. “The quality of our employees in Idaho has been — and will continue to be — one of our greatest competitive advantages.”
Zions Bank’s commitment to serving the people and businesses of Idaho is no more evident than at the intersection of 8th and Main Streets in downtown Boise. In January 2014, the bank moved its Idaho headquarters into a $76 million retail and office building developed by the Gardner Company and built by ESI Construction. As the tallest building in Idaho, the 17-story tower has changed the shape of the Boise skyline and boasts more than 390,000 square feet.
The company has also donated more than $1.7 million in Community Reinvestment Act funds statewide in the past two decades. These financial contributions illustrate just one more way Zions Bank has invested in Idaho’s growing communities.
“Zions Bank believes in Idaho,” Anderson says. “The company maintains a bold commitment to Idaho’s small businesses as a top lender, to its employees as one of the best places to work, and to its communities by consistently investing in their sustained success.”