Zions
Bank
On
July 10, 1873, Zion's Savings Bank and Trust Company was
incorporated under the laws of the Utah Territory under
the direction of Brigham Young, becoming Utah's first
chartered savings bank and trust company. During its first
day of business on October 1, 1873, the bank's cashier
and tellers recorded deposits of $5,876.20. The bank prospered
and grew, surviving its only major threat – the
depression caused by the stock market crash of 1929.
A
major event happened on December 31, 1957. Zion's Savings
Bank and Trust Company (1873), Utah Savings and Trust
Company (1889) and First National Bank of Salt Lake City
(1890) merged to form Zions First National Bank. The newly
enlarged institution had a total of $109.5 million in
deposits. At this time, the long-familiar apostrophe in
Zion's was dropped.
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