Most Utahns are familiar with Zions First National Bank, if only because they've driven by one of its 103 branch offices in the state.

Yet far fewer are aware of the reach and influence of Zions Bancorp, the parent company of Zions First National and seven other banks operating from California to Colorado and from Washington to Texas.

"Zions is really the only large regional bank holding company headquartered in the region," said Barbara Walchli, manager of the Phoenix-based Aquila Rocky Mountain Equity Fund that holds the company's shares in its portfolio. "It is a pretty big jump down to the next biggest."

And Zions financial well-being is tied closely to the well-being of Utah, said Jason Perry, executive director of the Governor's Office of Economic Development.

"It is vital [to Utah's economy] that they remain successful," Perry said. "They play a huge role in our economy."

From an economic development standpoint, having Zions headquarters in Utah has proved important in luring other financial services companies to the state, Perry said. "They can look at Zions and see they are successful and know they can be successful operating here, as well."

Zions is the 30th-largest bank holding company, with more than $55 billion in assets and 500 branch locations.

Through its various operating arms, Zions is a leading Small Business Administration and agricultural lender, having provided financing for tens of thousands of small businesses that created hundreds of thousands of jobs and paid millions in taxes.

Last year, the bank originated 910 SBA loans valued at more than $69 million, said Stan Nakano, director of the SBA office in Utah. Zions also was recognized nationally as the top mortgage lender to small businesses under an SBA fixed-asset financing program. "They have been an invaluable SBA partner."

Zions also is one of the companies bank regulators such as the Federal Deposit Insurance Corp. turn to when they need help taking over and restructuring troubled financial institutions in the West.

In April, Zions Bancorp subsidiary Nevada State Bank acquired Great Basin Bank of Nevada in a deal assisted by the FDIC. It was the third time in the past year regulators had asked Zions to take over a distressed institution.

"Obviously, we aren't about to let anyone take over a distressed bank if they are distressed themselves," said David Barr, a spokesman for the FDIC in Washington, D.C.

As a commercial lender, Zions' banking subsidiaries have helped provide financing for many of the big real estate developments in the West.

Among the Utah projects it helped finance were The Gateway mall in downtown Salt Lake City, Jordan Landing in West Jordan, Jordan Commons in Sandy and the Zions Bank Financial Center in Provo.

And the recent renovation of Zions headquarters on the southeast corner of Main Street and South Temple is viewed by many as the first completed project in the huge City Creek Center, said Lane Beattie, CEO of the Salt Lake Chamber of Commerce.

Through its various subsidiaries, Zions also offers all the traditional trappings of retail banks, providing products that include residential mortgages, home-equity lines of credit, debit and charge cards, savings and checking accounts.

"The importance of Zions to Utah can't be overstated," said Beattie. "Whether it is supporting food banks or the United Way, being involved in the community is very much a part of who they are."

From an economic standpoint, having a regional banking giant headquartered in Salt Lake City is tremendously helpful to the region if only because it understands the market and is closer to the businesses it serves, fund manager Walchli said.

steve@sltrib.com