Zions Bancorporation operates as a financial holding company. The company, through its banking and other subsidiaries, provides a range of banking and related services primarily in Utah, California, Texas, Arizona, Nevada, Colorado, Idaho, Washington, and Oregon. The company owned and operated 8 commercial banks with a total of 469 domestic branches as of December 31, 2013. Products and Services The company focuses on providing community banking services by continuously strengthening its core business lines of small and medium-sized business and corporate banking; commercial and residential development, construction and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting; and investment activities. The company operates 8 different banks in 10 Western and Southwestern states with each bank operating under a different name. The banks provide various commercial and retail banking and mortgage lending products and services. They also provide a range of personal banking services to individuals, including home mortgages, bankcard, other installment loans, home equity lines of credit, checking accounts, savings accounts, certificates of deposit of various types and maturities, trust services, safe deposit facilities, direct deposit, and Internet and mobile banking. In addition, certain subsidiary banks provide services to primary market segments through their Women’s Financial, Private Client Services, and Executive Banking Groups. The company also offers wealth management services through various subsidiaries, including Contango Capital Advisors and Zions Trust Company; and online and traditional brokerage services through Zions Direct, Inc. and Amegy Investments. The company has built specialized lines of business in capital markets and public finance, and provides Small Business Administration (SBA) lending. Through its subsidiary banks, the company provides SBA 7(a) and SBA 504 financing to small businesses. The company owns an equity interest in Federal Agricultural Mortgage Corporation and originates secondary market agricultural real estate mortgage loans. The company provides finance advisory and corporate trust services for municipalities. The company uses its trust powers to provide trust services to individuals in its wealth management business and to provide bond transfer, stock transfer, and escrow services in its corporate trust business. Loan Portfolio As of December 31, 2013, the company’s loan portfolio included commercial loans, such as commercial and industrial loans, leasing loans, owner occupied loans, and municipal loans; commercial real estate loans, such as construction and land development loans, and term loans; consumer loans, such as home equity credit line, 1-4 family residential loans, construction and other consumer real estate loans, bankcard and other revolving plans, and other loans; and Federal Deposit Insurance Corporation-supported loans. Investment Securities Portfolio As of December 31, 2013, the company’s investment portfolio included U.S. Treasury securities; U.S. Government agencies and corporations, such as agency securities, agency guaranteed mortgage-backed securities, and SBA loan-backed securities; municipal securities; asset-backed securities, such as trust preferred securities – banks and insurance, trust preferred securities – real estate investment trusts, auction rate securities, and other securities; and mutual funds and other. Supervision and Regulation The company is a bank holding company and a financial holding company as provided by the Bank Holding Company Act, as modified by the Gramm-Leach-Bliley Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act. These and other federal statutes provide the regulatory framework for bank holding companies and financial holding companies, which have as their umbrella regulator the Federal Reserve Board. The Gramm-Leach-Bliley Act allows the company’s subsidiary banks to engage in certain financial activities through financial subsidiaries. The company’s subsidiary banks and Zions Trust Company are subject to the provisions of the National Bank Act or other statutes governing national banks or, for those that are state-chartered banks, the banking laws of their various states, as well as the rules and regulations of the Office of the Comptroller of the Currency (for those that are national banks), and the Federal Deposit Insurance Corporation. They are also subject to periodic examination and supervision by the Office of the Comptroller of the Currency or their respective state banking departments, and the Federal Deposit Insurance Corporation. Majority of the company’s nonbank subsidiaries are also subject to regulation by the Federal Reserve Board and other federal and state agencies. The company’s brokerage and investment advisory subsidiaries are regulated by the Securities and Exchange Commission, Financial Industry Regulatory Authority, and/or state securities regulators. The company and other companies subject to the Dodd-Frank Wall Street Reform and Consumer Protection Act are subject to various requirements regarding the time, manner and form of compensation given to its key executives and other personnel receiving incentive compensation, which are being imposed through the supervisory process, as well as published guidance and proposed rules. The company is subject to the disclosure and regulatory requirements of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, both as administered by the Securities and Exchange Commission. The company is subject to the Sarbanes-Oxley Act of 2002, the Dodd-Frank Wall Street Reform and Consumer Protection Act, and other federal and state laws and regulations, which address corporate governance, auditing and accounting, executive compensation, and improved disclosure of corporate information. History Zions Bancorporation was founded in 1873. The company was incorporated in 1966.
zions bancorporation (ZION:NASDAQ GS)
One South Main Street
Salt Lake City, UT 84133
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