Add-on Acquisition • Financial Services

Zions Acquires Vectra Banking

On January 6, 1998, Zions acquired financial services company Vectra Banking for 179M USD

Acquisition Context
  • This is Zions’ 5th transaction in the Financial Services sector.
  • This is Zions’ 3rd largest (disclosed) transaction.
  • This is Zions’ 5th transaction in the United States.
  • This is Zions’ 2nd transaction in Colorado.

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M&A Deal Summary

Date January 6, 1998
Target Vectra Banking
Sector Financial Services
Buyer(s) Zions
Deal Type Add-on Acquisition
Deal Value 179M USD
Advisor(s) KeyBanc Capital Markets (Financial)
Lewis Rice (Legal)

Target Company

Vectra Banking

Denver, Colorado, United States
Vectra Banking Corp.offered a wide range of consumer deposit products, including regular checking, checking with interest, budget checking, money market accounts, regular savings.
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Buyer Overview 1

Buyer

Zions

Salt Lake City, Utah, United States

Category Company
Founded 1873
Sector Financial Services
Employees9,406
Revenue 3.1B USD (2024)
DESCRIPTION

Zions is a financial services company, consisting of a collection of banks in select high growth markets. Under local management teams and community identities, Zions operates over 480 full-service banking offices in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. Zions was founded in 1873 and is based in Salt Lake City, Utah.


Deal Context for Buyer #
Overall 5 of 12
Sector: Financial Services 5 of 11
Type: Add-on Acquisition 5 of 12
State: Colorado 2 of 3
Country: United States 5 of 12
Year: 1998 1 of 4
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-11-14 GB Bancorp.

San Diego, California, United States

GB Bancorp offers various banking products and services for individuals, professionals, and small to medium-sized businesses in the United States.

Buy $174M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-23 Sky Valley Bank

United States

Sky Valley Bank Corp provides commercial business loans, residential and commercial real estate construction loans, consumer loans, revolving lines of credit.

Buy $20M