Zions Bancorporation N.A. - ZION STOCK NEWS

Zions Bancorporation (NASDAQ: ZION) has announced that Chairman and CEO Harris Simmons will present at the Goldman Sachs U.S. Financial Services Conference on December 10th at 3:00 pm Eastern. The presentation will be accessible via audio webcast on the company's website and remain available for 90 days.

Zions Bancorporation is a leading financial services company with $3.1 billion in 2023 net revenue and approximately $87 billion in total assets. Founded in 1873, the bank operates across 11 western states under local management teams. The company is recognized for excellence in small and middle-market banking, public finance advisory services, and SBA lending. Zions is included in the S&P 400 and NASDAQ Financial 100 indices.

Zions Bancorporation (NASDAQ: ZION) has priced a $500 million Fixed-to-Floating Rate Subordinated Notes offering due November 19, 2035. The notes carry a 6.816% interest rate for the fixed rate period until November 19, 2034, followed by Compounded SOFR plus 2.830% for the floating rate period. The company plans to use proceeds to reduce short-term borrowings and redeem preferred stock and other securities. Additionally, the board has authorized the full redemption of Series G, I, and J Preferred Stock totaling $373 million, and $88 million of 6.95% Fixed-to-Floating Rate Subordinated Notes due 2028.

Zions Bancorporation (NASDAQ: ZION) has announced its board's declaration of a regular quarterly dividend of $0.43 per common share, payable November 21, 2024, to shareholders of record as of November 14, 2024. The board also declared regular quarterly cash dividends on various perpetual preferred shares (Series A, G, I, and J), payable December 16, 2024, to shareholders of record on December 1, 2024. The company reported $3.1 billion in net revenue for 2023 and manages approximately $87 billion in total assets, operating across 11 western states.

Zions Bancorporation (NASDAQ: ZION) reported net earnings of $204 million, or $1.37 per diluted common share, for Q3 2024. This represents a 21% increase in earnings per share compared to Q3 2023. The bank's net interest margin improved to 3.03% from 2.93% a year ago, while operating costs increased by only 1%. Average noninterest-bearing demand deposits decreased 1.7% from the previous quarter but remained stable compared to the previous quarter's ending balance.

Despite a 66% increase in classified loans, primarily in multi-family residential loans, the bank expects credit losses to remain well-controlled. Zions also announced an agreement to purchase four FirstBank branches in California's Coachella Valley, which will add approximately $730 million in deposits and $420 million in loans to their portfolio.

Zions Bancorporation (NASDAQ: ZION) has announced that its Chief Financial Officer, Ryan Richards, will present at the BancAnalysts Association of Boston's Annual Bank Conference. The presentation is scheduled for Thursday, November 7 at 3:05 pm ET at the Langham Hotel in Boston. A live webcast of the session will be available on the company's website, zionsbancorporation.com, and will be archived for 30 days.

Zions Bancorporation, N.A. is a leading financial services company with $3.1 billion in net revenue for 2023 and approximately $87 billion in total assets. Founded in 1873, the bank operates under local management teams and distinct brands across 11 western states. Zions is recognized for its customer service in small and middle-market banking, as well as its leadership in public finance advisory services and Small Business Administration lending. The company is included in the S&P 400 and NASDAQ Financial 100 indices.

Snapdocs, a leading digital closing provider, has announced a collaboration with Zions Bancorporation (NASDAQ: ZION) to digitize mortgage closings. After just one month, Zions achieved over 75% adoption of hybrid closings across its network of banks in 11 western states. The partnership aims to enhance customer service and improve operational efficiency.

Key outcomes include a 100% eSign success rate, 100% scanback rate with settlement partners, and an 80% reduction in closing document errors. Zions has also implemented Snapdocs' new Funding Quality Control product, which uses AI to automate funding and post-closing quality control reviews, reducing manual review pages by 98%.

Zions plans to further increase adoption and implement eNote and Remote Online Notarization (RON) digital closings in the future.

California Bank & Trust (CB&T), a division of Zions Bancorporation, has announced an agreement to acquire four FirstBank branches in Palm Desert and Indio, California. The acquisition includes approximately $730 million in deposits and $420 million in loans. This move will expand CB&T's presence in Coachella Valley to six locations and add about 15,000 new customers, resulting in a 7% market share in the area.

The transaction is expected to be completed in the first quarter of 2025, subject to regulatory approval. CB&T will welcome FirstBank's California-based employees to its team. Both banks are committed to ensuring a smooth transition for customers and employees. A resource page has been launched at www.calbanktrust.com/firstbankwelcome to assist FirstBank customers during the transition.

Zions Bancorporation (NASDAQ: ZION) has announced that its Chairman and CEO, Harris Simmons, will present at the Barclays Global Financial Services Conference on September 10, 2024, at 12:00 pm Eastern. An audio webcast of the presentation will be available on the company's website and archived for 30 days.

Zions Bancorporation is a leading financial services company with $3.1 billion in net revenue for 2023 and approximately $87 billion in total assets. Founded in 1873, it operates under local management teams and distinct brands across 11 western states. The bank is recognized for its customer service, public finance advisory services, and Small Business Administration lending. Zions is also included in the S&P 400 and NASDAQ Financial 100 indices.

Zions Bancorporation (NASDAQ: ZION) has announced its board's decision to declare a regular quarterly dividend of $0.41 per common share, payable on August 22, 2024, to shareholders of record as of August 15, 2024. The board also declared regular quarterly cash dividends on various perpetual preferred shares, payable September 15, 2024, to shareholders of record on September 1, 2024. This includes Series A, G, I, and J preferred shares.

Zions Bancorporation is a leading financial services company with $3.1 billion in net revenue for 2023 and approximately $87 billion in total assets. Founded in 1873, it operates under local management teams across 11 western states and is recognized for its customer service, public finance advisory services, and Small Business Administration lending.