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 has 50 branches in 20 communities across the state, and employs more than 800 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 11 Western and Southwestern states and assets of more than $55 billion (year-end 2014).
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 (ATM's) 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.
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(TM), 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.
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.
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.
- 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.
- The real estate line provides residential and commercial construction loans and term loans of all sizes.
- Professional banking is designed for busy professionals who have attained a significant level of wealth.
- The Private Bank by Nevada State Bank is an unincorporated division of Nevada State Bank that provides specialized banking services to high net-worth clients.
The Zions Bancorporation relationship
Nevada State Bank has been an autonomous subsidiary of Zions Bancorporation since 1985. For more information on Zions Bancorporation, see www.zionsbancorporation.com.
Community reinvestment
In a recent audit by the FDIC, Nevada State Bank received an Outstanding rating for its activities supporting the federal Community Reinvestment Act.
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 home-buyers 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. 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.
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.
NevadaSmallBusiness.com also contains links to the Nevada Small Business Survey, which provides a snapshot of trends and concerns identified by Nevada business owners and managers, along with their insights and outlook on the state's economy.
Nevada State Bank offers resources especially designed to serve the needs of family-owned businesses. At www.nsbank.com/familybusiness, owners and managers can find links to newsletters and webinars with helpful advice for their family-owned business.
Nevada State Bank's Two Cents blog (www.blog.nsbank.com) features resources for consumers, including information about money management, retirement planning, fraud prevention, and other topics of interest.
Nevada State Bank also maintains a presence on Facebook, Twitter and LinkedIn.
References
External links
- Official Web Site
- Zions Bancorporation
- Nevada State Bank Executive Management
- Nevada State Bank Board of Directors
- Nevada State Bank Grant Information
- Nevada Small Business.com
- Two Cents Blog
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