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Last month marked the 50th anniversary of an important business transaction in Utah. A group of Utah investors led by Roy W. Simmons purchased majority interest in Zions First National Bank from the Church of Jesus Christ of Latter-day Saints. In making the decision to sell its stock in the bank, LDS Church officials wrote in a letter that the bank must continue to be "a local independent bank to serve the best interests of the community and the state of Utah."
Since that time, Zions has adhered to its local mandate in communities across the state —including Utah County. Today, the bank honors the past and looks to the future as it celebrates the dedication of the Zions Bank Financial Center in Provo.
Located at 180 N. University Ave., the eight-story building serves as the headquarters of the Central Utah Region of Zions Bank. It houses the Provo-area offices for Zions Private Banking, Commercial Banking and supporting teams. Zions Bank is the anchoring tenant, occupying the third and fourth floors and a branch on the main level. The building was designed by the Elliott Work Group and developed by PEG Development in partnership with the Earl Corporation.
Other building tenants include technology group ParentLink. Street-level tenants will include restaurants and retail businesses.
Zions Bank has had a presence in Utah County since it acquired the Bank of Spanish Fork in 1968 and Utah National Bank of Provo in 1969. The bank's expansion continued as it opened a new office adjacent to the campus of Brigham Young University in 1970, and the Payson office soon followed. Then in the early 90s, Zions acquired Wasatch Bank of Orem, which had five offices in Lehi, American Fork, Pleasant Grove, Orem and Santaquin.
Today, with 13 branches and 209 employees all across Utah County, Zions Bank is hard at work helping to bring value to the local community. The new Financial Center will not only help revitalize downtown Provo's business community, it will also serve to symbolize Zions Bank's commitment to serving our communities in Utah County and beyond.
