Nevada State Bank
Nevada State Bank, a division of Zions Bancorporation, N.A. Member FDIC, is a full-service bank with branches statewide. Founded in 1959, Nevada State Bank serves 20 communities across the state of Nevada. Zions Bancorporation, N.A. operates in nearly 500 local financial centers across 11 Western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. Zions Bancorporation, N.A. is included in the S&P 500 and NASDAQ Financial 100 indices (NASDAQ: ZION).
| Type | Division |
|---|---|
| Industry | Finance |
| Founded | 1959 |
| Headquarters | Las Vegas, Nevada, United States |
Key people | Dallas Haun, Chairman Terry Shirey, President and CEO |
| Products | Checking accounts, savings accounts, loans, credit cards, mortgages, online banking, private banking, SBA and other business loans |
Number of employees | 480 |
| Parent | Zions Bancorporation, N.A. |
History
Nevada State Bank first opened for business on December 9, 1959. The bank was organized by a group of 12 business owners, with Charles Lee Horsey Jr. serving as President. The organizing group sold 24,000 shares of stock to local people at $31.25 per share. This gave them $600,000 to put into capital and $150,000 for surplus and reserves. The bank received its official state charter on January 5, 1960. It operated out of one location in downtown Las Vegas until 1974, when it opened its first satellite branch.[1]
1968 - Reddi Reserve account introduced, giving customers the ability to use a line of credit to cover overdrafts in their checking accounts.
1983 - Eight Docutel Automatic Teller Machines (ATMs) are purchased and installed. The “NSB Money Machine” card is introduced to customers.
1984 - The bank has a total of five branches and 269 employees.
1985 - Nevada State Bank is purchased by Zions Bancorporation and operates as an autonomous subsidiary.
1989 - Nevada State Bank opens the first supermarket bank branch in the state of Nevada.
July 1997 - It acquires five branches in rural Nevada towns: Eureka, Fernley, Tonopah, Lovelock and Wells.
October 1997 - Nevada State Bank purchases Sun State Bank, giving it three new branches in Southern Nevada.
1998 - Nevada State Bank introduces telephone, online and PC banking, offering clients the ability to bank 24 hours a day, seven days a week.
1999 - Nevada State Bank merges with Pioneer Citizens Bank of Nevada, founded in Reno in 1965. This adds six Northern Nevada branches and six Southern Nevada branches, effectively doubling the size of the bank.
2002 - Nevada State Bank introduces Internet bill pay, one of the first banks in the country to offer this service free of charge to non-business clients.
2004 - The bank introduces Reddi-Check, a service that creates images of cleared checks. Clients gain the ability to view images of cleared checks and deposit slips online.
2005 - Nevada State Bank is the first bank in the state to offer Remote Deposits, enabling companies to scan checks electronically, from anywhere at any time, instead of going to the bank.
January 2006 - The Nevada quarter is launched in a special ceremony on the steps of the Nevada Capitol, as part of the U.S. Mint’s 50 State Quarters Program. Nevada State Bank is the first bank to offer the quarter to the general public as the official “Bank of the Nevada Quarter Launch.”
September 2008 - Nevada State Bank is selected by the Federal Deposit Insurance Corporation (FDIC) to assume the insured deposits of Silver State Bank.[2]
April 2009 - Nevada State Bank acquires the banking operations of Great Basin Bank of Nevada in a transaction facilitated by the FDIC.[3]
August 2009 - Nevada State Bank is chosen to assist the FDIC by acting as Payout Agent in the resolution of Community Bank of Nevada, which was closed by the Nevada Financial Institutions Division.[4]
2010 - NevadaSmallBusiness.com website launches, and Nevada State Bank joins social media with a Facebook page and Twitter account.
2011 - Nevada State Bank launches Mobile Banking and Bill Pay.
2011 - Nevada State Bank rolls out "Smart ATMs" that allow clients to deposit cash and checks without deposit slips or envelopes.
2014 - Nevada State Bank launches Mobile Deposit Capture, allowing clients to deposit checks by uploading images of the checks using a mobile phone app.
2014 - Nevada State Bank launches its annual Small Business Survey, with highly targeted, statewide research on business trends, opinions, and priorities.
December 31, 2015 - With the consolidation of Zions Bancorporation affiliates’ charters into a single charter, Nevada State Bank becomes a division of ZB, N.A., whose parent company is Zions Bancorporation.
January 2017
Terry Shirey is named President and CEO of Nevada State Bank; Dallas Haun remains as Chairman.
September 30, 2018
At the end of the day on September 30, 2018, Zions Bancorporation merges with its wholly owned bank subsidiary, ZB, N.A. ZB, N.A. is the surviving entity in the merger and immediately thereafter changes its name to Zions Bancorporation, N.A. Zions Bancorporation, N.A. continues to operate through its locally managed bank divisions, including Nevada State Bank.
Products and services
Nevada State Bank is organized into five lines of business, each one serving a different client segment.
The retail line serves individual consumers and micro-businesses, through 50 branches in 20 communities throughout Nevada. It also operates an online and mobile banking platform that enables clients to bank from any location with Internet access. The retail line offers a full range of financial services products, including checking and savings accounts, loans and lines of credit, credit cards, and mortgages.
Small business banking offers a full range of business services to small business owners and entrepreneurs, including cash management, Small Business Administration (SBA) loans and account analysis.
Corporate banking serves larger business clients with customized banking, special financial services packages and relationship managers who act as liaisons between the client and the bank.
The real estate line provides residential and commercial construction loans and term loans of all sizes.
Professional banking is designed for professionals who have attained a significant level of wealth. Professional banking clients are assigned a dedicated relationship manager to assist them with their banking needs.
The Private Bank by Nevada State Bank is a division of Nevada State Bank that provides specialized banking services to high net-worth clients.
The Zions Bancorporation relationship
Nevada State Bank is a division of Zions Bancorporation, N.A., which operates in nearly 500 local financial centers across 11 Western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming.
References
- 50 Years of Nevada Spirit. Peru: Grafica Biblos. 2009. ISBN 978-0-615-33032-7.
- "PRESS RELEASE: Nevada State Bank Acquires the Insured Deposits of Silver State Bank, Henderson, Nevada". Federal Deposit Insurance Corporation.
- "PRESS RELEASE: Nevada State Bank, Las Vegas, Nevada, Assumes All of the Deposits of Great Basin Bank of Nevada, Elko, Nevada". Federal Deposit Insurance Corporation.
- "PRESS RELEASE: FDIC Creates a Deposit Insurance National Bank to Facilitate the Resolution of Community Bank of Nevada, Las Vegas, Nevada; Nevada State Bank to Provide Temporary Operational Management". Federal Deposit Insurance Corporation.