SALT LAKE CITY, Aug. 15 /PRNewswire-FirstCall/ - Winning bids in last
week's zionsdirect.com online auction for FDIC-insured certificates of deposit
(CDs) received higher yields than national averages. Similar to popular
Internet auction platforms, zionsdirect.com auctions allow individual
investors to bid on the yield of CDs of various maturities.
During the week of August 7-14, winning bidders obtained three-month CDs
at a rate of 5.45%, compared to the national average of 3.17%; six-month CDs
at a rate of 5.42%, compared to 3.86%; one-year CDs at a rate of 5.57%,
compared to the national average of 4.19%; and two-year CDs at a rate of
5.38%, compared to the national average of 4.28% (Source: Informa Research
Services).*
zionsdirect.com auction results during the week of August 7-14, 2007
Rates of Average
winning bids at national
zionsdirect.com rates*
3-month CD 5.45 3.17
6-month CD 5.42 3.86
1-year CD 5.57 4.19
2-year CD 5.38 4.28
The online CD auctions are administered by Zions Direct, member
FINRA/SIPC, a non-banking subsidiary of Zions First National Bank. There are
no fees, and the only requirement to participate in an auction is to register
to bid, a process that is easily completed in a few minutes. The modified
Dutch auction method employed by Zions Direct is similar to the one used by
the U.S. Treasury. The bidding process is open, enabling investors to check
the status of their bids throughout the auction.
CD auctions allow private investors to obtain yields previously available
only to large institutional investors. CDs of varying maturities are
available in amounts as small as $1,000. To participate in a CD auction, go to
zionsdirect.com, then click on "CD Auctions" and "Register for Auctions." The
registration process takes only a few minutes. Current auctions, as well as
the results of previous auctions, can be accessed at
http://www.zionsdirect.com.
Zions First National Bank is a subsidiary of Zions Bancorporation
(Nasdaq: ZION), one of the nation's premier financial services companies,
consisting of a collection of great banks in select high-growth markets. Zions
operates its banking businesses under local management teams and community
identities with more than 500 offices and 600 ATMs in eight banks: Amegy Bank
of Texas, California Bank & Trust, Commerce Bank of Oregon, Commerce Bank of
Washington, National Bank of Arizona, Nevada State Bank, Vectra Bank of
Colorado and Zions Bank. The company is a national leader in Small Business
Administration lending and public finance advisory services. In addition,
Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor
information and links to subsidiary banks can be accessed at
http://www.zionsbancorporation.com.
* Past auction performance does not guarantee future results. Source:
Informa Research Services, Inc., Calabasas, CA.
http://www.informars.com. Although the information has been obtained
from the various institutions themselves, the accuracy cannot be
guaranteed. Investment Products: not FDIC insured, no bank guarantee,
may lose value.
SOURCE Zions First National Bank
Contact: Evan Hill, Vice President of Zions Direct, +1-801-844-7839, or Rob Brough, Executive Vice President of Zions First National Bank, +1-801-844-7979