Main office in Ogden; branches in Layton, Clinton, South Jordan, Orem
WOW............. who is next?????
the $66 billion the FDIC has to back up deposits IS the fund, not something in
ADDITION to the fund.
In times wrought with bank failures, it's good to see that the FDIC continues to
hold Zions Bank in high esteem. Not only has Zions bought 4 failed banks in the
past year or so, but they have helped customers of the failed Barnes Bank and
now Centennial Bank get through these stressful times.FDIC would not
allow Zions Bank to bid on any failed bank or help them in disolution situations
unless they had confidence in them. Analysts expect more banks to fail in the
Zions Bank marketing footprint, which will give the bank more opportunities for
saving folks entrenched in the failed banks.I know where my money
is! Why take the chance?
@Eugene Zion's isn't saving any folks entrenched in the bank failures. Zion's
has a plethora of problems themselves and they will only continue to worsten as
their commercial loan portfolio begins to unravel. Remember, that deposits are a
liability on a bank's balance sheet. They are hoping to cherry pick some good
loan accounts from these failed banks. I think they should hire some of the
Centennial employees like they did at Barnes. That ought to help their cause.
Also, all you Credit Union members, many of your institutions are also in the
thick of problems with real estate loans, it's just not common knowledge.
To Eugene: Well said from Zions Public Relations department. (feel my sarcasm)
glad to see Eugene, or anybody for that matter, has more than $250,000 to
deposit in any one bank. Centennial failed, but none of their depositors with
less than $250,000 will lose a nickel.
@Eugene7:15a.m.:["FDIC would not allow Zions Bank to bid on any
failed bank or help them in dissolution situations unless they had confidence in
them."]Has nothing to do with confidence. Has everything to do with
the balance sheet.
The bank, which had $215.2 million in assets and $205.1 million in deposits, was
closed by the Utah Department of Financial Institutions. The FDIC was named
receiver."]OK, we see what the assets are. But what are the total
liabilities on the books? And how does FDIC determine when to close a bank?
Inquiring minds want to know.
move your money to a credit union. don't support these fat cat bankers. credit
unions are non-profits devoted to bettering peoples' finances not profiting off
their misfortunes. i'd suggest america first. they are the sixth largest in the
country and have purchased 3 failing credit unions in the past year or so - the
government wouldn't have allowed that unless they were confident with afcu. you
don't see zions buying barnes or centennial. zions has A LOT of problems.