Nevada State Bank
Encyclopedia
Nevada State Bank is the oldest and largest state-chartered commercial bank in Nevada
with assets of more than $4.1 billion. Established in Las Vegas in 1959, Nevada State Bank now has more than 50 branches in 20 communities across the state, and employs more than 850 people. It offers a complete range of consumer, business and private banking services. It is a subsidiary of Salt Lake City-based Zions Bancorporation
(Nasdaq: ZION), with affiliates in 10 Western states and assets of more than $51 billion (year-end 2010).
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 celebrates its Silver Anniversary with a total of five branches and 269 employees.
1985 - Nevada State Bank is purchased by Zions Bancorporation
and has operated as an autonomous subsidiary since then.
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.
2001 - The bank partners with Ruby Thomas Elementary School, an at-risk Las Vegas-area school. Employees volunteer to help students with schoolwork and raise funds for the school.
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
.
April 2009 - Nevada State Bank acquires the banking operations of Great Basin Bank of Nevada in a transaction facilitated by the FDIC.
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.
December 9, 2009 - Nevada State Bank celebrates its 50th anniversary.
The retail line serves individual consumers and micro-businesses, through more than 50 branches in 20 communities throughout Nevada. It also operates an online 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 home loans.
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.
Executive banking is designed for clients who have attained a significant level of wealth. Executive banking clients are assigned a dedicated relationship manager to assist them with their banking needs.
The Private Bank by Nevada State Bank is an unincorporated division of Nevada State Bank that provides specialized banking services to significant net-worth clients. Nevada State Bank also offers wealth management services through Contango Capital Advisors, Inc., which operates in Nevada as Nevada State Investment Services. Contango Capital Advisors is a registered investment adviser and a nonbank affiliate of Nevada State Bank and a nonbank subsidiary of Zions Bancorporation
.
and NASDAQ Financial 100 indices and is a national leader in SBA lending, public finance advisory services and agricultural finance. Zions Bancorporation operates its banking affiliates under local management teams and community identities through more than 500 full-service offices and 600 ATMs in 10 Western states: Arizona
, California
, Colorado
, Idaho
, Nevada, New Mexico
, Oregon
, Texas
, Utah
and Washington.
In addition to community banks, Zions Bancorporation affiliates include Contango Capital Advisors, offering wealth management and investment advice, Zions Credit Corporation and Zions Agricultural Finance.
California Bank & Trust,
National Bank of Arizona,
Nevada State Bank,
The Commerce Bank of Oregon,
The Commerce Bank of Washington,
Vectra Bank Colorado and
Zions First National Bank
.
In conjunction with the Federal Home Loan Bank of San Francisco, the bank participates in the WISH and IDEA grant programs, which offer renters with low-to-moderate incomes the ability to become first-time homebuyers by matching funds for down payments and closing costs. It also participates with the Federal Home Loan Bank of San Francisco to fund several large community projects, including one that enabled the Las Vegas Rescue Mission to construct a new dining hall and dormitory.
The bank’s programs focus on services ensuring that education, affordable housing, human services and recreational activities are available to all residents of Nevada. This is accomplished in a multitude of ways, including monetary contributions, grant sponsorship, city and county projects, and employee volunteerism.
Nevada State Bank also maintains a presence on Facebook
, Twitter
and LinkedIn
.
Nevada
Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
with assets of more than $4.1 billion. Established in Las Vegas in 1959, Nevada State Bank now has more than 50 branches in 20 communities across the state, and employs more than 850 people. It offers a complete range of consumer, business and private banking services. It is a subsidiary of Salt Lake City-based Zions Bancorporation
Zions Bancorporation
Zions Bancorporation is a member of the S&P 500, a bank holding company headquartered in Salt Lake City, Utah, USA. Among its subsidiaries are Amegy Bank of Texas, California Bank & Trust, National Bank of Arizona, Nevada State Bank, the Commerce Bank of Oregon, the Commerce Bank of Washington,...
(Nasdaq: ZION), with affiliates in 10 Western states and assets of more than $51 billion (year-end 2010).
History
Nevada State Bank first opened its doors for business on December 9, 1959, making it the oldest state-chartered community bank in Nevada. 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.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 celebrates its Silver Anniversary with a total of five branches and 269 employees.
1985 - Nevada State Bank is purchased by Zions Bancorporation
Zions Bancorporation
Zions Bancorporation is a member of the S&P 500, a bank holding company headquartered in Salt Lake City, Utah, USA. Among its subsidiaries are Amegy Bank of Texas, California Bank & Trust, National Bank of Arizona, Nevada State Bank, the Commerce Bank of Oregon, the Commerce Bank of Washington,...
and has operated as an autonomous subsidiary since then.
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
Eureka, Nevada
Eureka is an unincorporated township in and the county seat of Eureka County, Nevada, United States. Eureka is by far the largest community in Eureka County...
, Fernley, Tonopah
Tonopah
Tonopah may refer to:* Tonopah, Arizona, United States* Tonopah, Nevada, United States* Tonopah Test Range, Nevada, United States* Monitor USS Nevada , renamed USS Tonopah in 1909....
, Lovelock and Wells.
October 1997 - Nevada State Bank purchases Sun State Bank, giving it three new branches in Southern Nevada
Southern Nevada
Southern Nevada is the region of Nevada which includes the Las Vegas Valley. Southern Nevada also includes the areas in and around Goldfield, Hawthorne, Pahrump, and Pioche. Geographically, Southern Nevada is partly, and in some cases, fully within the Mojave Desert. The population of the...
.
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
Reno
Reno is the fourth most populous city in Nevada, US.Reno may also refer to:-Places:Italy*The Reno River, in Northern ItalyCanada*Reno No...
in 1965. This adds six Northern Nevada branches and six Southern Nevada
Southern Nevada
Southern Nevada is the region of Nevada which includes the Las Vegas Valley. Southern Nevada also includes the areas in and around Goldfield, Hawthorne, Pahrump, and Pioche. Geographically, Southern Nevada is partly, and in some cases, fully within the Mojave Desert. The population of the...
branches, effectively doubling the size of the bank.
2001 - The bank partners with Ruby Thomas Elementary School, an at-risk Las Vegas-area school. Employees volunteer to help students with schoolwork and raise funds for the school.
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
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...
(FDIC) to assume the insured deposits of Silver State Bank
Silver State Bank
Silver State Bank was a failed Nevada commercial bank with 17 branches in the Las Vegas and Phoenix metropolitan areas and loan operations across the western United States...
.
April 2009 - Nevada State Bank acquires the banking operations of Great Basin Bank of Nevada in a transaction facilitated by the FDIC.
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.
December 9, 2009 - Nevada State Bank celebrates its 50th anniversary.
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 more than 50 branches in 20 communities throughout Nevada. It also operates an online 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 home loans.
Small business banking offers a full range of business services to small business owners and entrepreneurs, including cash management, Small Business Administration
Small Business Administration
The Small Business Administration is a United States government agency that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses...
(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.
Executive banking is designed for clients who have attained a significant level of wealth. Executive banking clients are assigned a dedicated relationship manager to assist them with their banking needs.
The Private Bank by Nevada State Bank is an unincorporated division of Nevada State Bank that provides specialized banking services to significant net-worth clients. Nevada State Bank also offers wealth management services through Contango Capital Advisors, Inc., which operates in Nevada as Nevada State Investment Services. Contango Capital Advisors is a registered investment adviser and a nonbank affiliate of Nevada State Bank and a nonbank subsidiary of Zions Bancorporation
Zions Bancorporation
Zions Bancorporation is a member of the S&P 500, a bank holding company headquartered in Salt Lake City, Utah, USA. Among its subsidiaries are Amegy Bank of Texas, California Bank & Trust, National Bank of Arizona, Nevada State Bank, the Commerce Bank of Oregon, the Commerce Bank of Washington,...
.
The Zions Bancorporation relationship
Nevada State Bank has been an autonomous subsidiary of Zions Bancorporation since 1985. Salt Lake City-based Zions Bancorporation (Nasdaq: ZION) is a bank holding company with assets in excess of $51 billion. Zions is included in the S&P 500S&P 500
The S&P 500 is a free-float capitalization-weighted index published since 1957 of the prices of 500 large-cap common stocks actively traded in the United States. The stocks included in the S&P 500 are those of large publicly held companies that trade on either of the two largest American stock...
and NASDAQ Financial 100 indices and is a national leader in SBA lending, public finance advisory services and agricultural finance. Zions Bancorporation operates its banking affiliates under local management teams and community identities through more than 500 full-service offices and 600 ATMs in 10 Western states: Arizona
Arizona
Arizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
, Idaho
Idaho
Idaho is a state in the Rocky Mountain area of the United States. The state's largest city and capital is Boise. Residents are called "Idahoans". Idaho was admitted to the Union on July 3, 1890, as the 43rd state....
, Nevada, New Mexico
New Mexico
New Mexico is a state located in the southwest and western regions of the United States. New Mexico is also usually considered one of the Mountain States. With a population density of 16 per square mile, New Mexico is the sixth-most sparsely inhabited U.S...
, Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, Utah
Utah
Utah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...
and Washington.
In addition to community banks, Zions Bancorporation affiliates include Contango Capital Advisors, offering wealth management and investment advice, Zions Credit Corporation and Zions Agricultural Finance.
Zions Bancorporation affiliated banks
Amegy Bank of Texas,California Bank & Trust,
National Bank of Arizona,
Nevada State Bank,
The Commerce Bank of Oregon,
The Commerce Bank of Washington,
Vectra Bank Colorado and
Zions First National Bank
Community reinvestment
In a recent audit by the FDIC, Nevada State Bank received an Outstanding rating for its activities supporting the federal Community Reinvestment ActCommunity Reinvestment Act
The Community Reinvestment Act is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods...
.
In conjunction with the Federal Home Loan Bank of San Francisco, the bank participates in the WISH and IDEA grant programs, which offer renters with low-to-moderate incomes the ability to become first-time homebuyers by matching funds for down payments and closing costs. It also participates with the Federal Home Loan Bank of San Francisco to fund several large community projects, including one that enabled the Las Vegas Rescue Mission to construct a new dining hall and dormitory.
The bank’s programs focus on services ensuring that education, affordable housing, human services and recreational activities are available to all residents of Nevada. This is accomplished in a multitude of ways, including monetary contributions, grant sponsorship, city and county projects, and employee volunteerism.
Online and social media presence
In addition to its web site, Nevada State Bank sponsors a website that serves as a free clearinghouse and resource center for small businesses and entrepreneurs, including links to webinars, articles, blogs, and other resources designed to provide businesses with the information they need.Nevada State Bank also maintains a presence on Facebook
Facebook
Facebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. , Facebook has more than 800 million active users. Users must register before using the site, after which they may create a personal profile, add other users as...
Twitter
Twitter is an online social networking and microblogging service that enables its users to send and read text-based posts of up to 140 characters, informally known as "tweets".Twitter was created in March 2006 by Jack Dorsey and launched that July...
and LinkedIn
LinkedIn
LinkedIn is a business-related social networking site. Founded in December 2002 and launched in May 2003, it is mainly used for professional networking. , LinkedIn reports more than 120 million registered users in more than 200 countries and territories. The site is available in English, French,...
.