The state of Nevada's financial institutions division found that Silver State Bank was unable to meet the demands of its depositors in the ordinary course of its business. The transaction includes insured deposits of more than $800 million. All former branches of Silver State Bank will open as branches of either Nevada State Bank or National Bank of Arizona, subsidiaries of Zions.

Silver State Bank operated 13 full service branches in southern Nevada, which will become part of Nevada State Bank, and four full service branches in the Phoenix/Scottsdale, Arizona area, which will become part of National Bank of Arizona. The Federal Deposit Insurance Corporation will retain most of Silver State's loan portfolio.

Harris Simmons, chairman and CEO of Zions Bancorporation, said: "We want to assure depositors of Silver State Bank that their insured deposits are safe and will be accessible when the branches open for business as usual Monday morning as Nevada State Bank and National Bank of Arizona.

"This acquisition is consistent with Zions' strategy to use our strong balance sheet to take advantage of opportunities in the current economic environment."