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Zions Bancorporation, N.A. (NASDAQ: ZION) stands as one of the nation's premier financial services companies, with a distinct presence in the Western and Southwestern United States. Headquartered in Salt Lake City, Utah, Zions operates through local management teams and distinct community identities across 11 states, including Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It boasts over 500 full-service banking offices, providing comprehensive financial services to a diverse clientele.
Primarily focusing on small and midsize businesses, Zions excels in commercial and commercial real estate lending. The company is a national leader in Small Business Administration (SBA) lending, public finance advisory services, and agricultural finance. Recognized as a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, Zions ensures a high standard of customer service and community engagement.
In terms of financial performance, Zions reported net earnings applicable to common shareholders for the fourth quarter of 2023 at $116 million, or $0.78 per diluted common share. This marks a decrease from $277 million, or $1.84 per diluted common share, in the fourth quarter of 2022. Despite this, the bank showcased resiliency with a $1.7 billion growth in customer deposits and a $0.9 billion increase in loans over the quarter. The net interest margin remained stable, and the bank continued to strengthen its capital position.
Harris H. Simmons, Chairman and CEO, emphasized the strong credit quality of the loan portfolio, with a low annualized net charge-off ratio of 0.06%. The bank is well-positioned for growth, anticipating client acquisition and improved financial results driven by business investments, stable or lower short-term interest rates, and moderate economic expansion in the Western United States.
For the full year 2023, Zions reported approximately $87 billion in total assets and $3.1 billion in net revenue. The bank is included in the S&P 500 and NASDAQ Financial 100 indices, underlining its significant market presence and financial stability. Investors and stakeholders can access comprehensive financial reports and updates on the company's official website.
Zions Bancorporation (NASDAQ: ZION) has announced that its board of directors has authorized a share repurchase program of up to $40 million for fiscal year 2025. The company, which operates in 11 western states, reported total assets of approximately $89 billion as of December 31, 2024, and achieved annual net revenue of $3.1 billion in 2024.
The financial services company operates under local management teams and distinct brands across Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. Zions has been recognized for excellence in small- and middle-market banking, public finance advisory services, and Small Business Administration lending. The company is a component of both the S&P MidCap 400 and NASDAQ Financial 100 indices.
Zions Bancorporation (NASDAQ: ZION) has announced that President and COO Scott McLean will present at the RBC Capital Markets Global Financial Institutions Conference on March 4th, 2025, at 4:00 pm Eastern. The presentation will be accessible via audio webcast on the company's website, with a replay available after the event.
The company, with $89 billion in total assets as of December 31, 2024, and annual net revenue of $3.1 billion in 2024, operates across 11 western states under local management teams and distinct brands. Zions has earned recognition for excellence in small- and middle-market banking, public finance advisory services, and SBA lending. The company is a component of the S&P MidCap 400 and NASDAQ Financial 100 indices.
California Bank & Trust (CB&T) has announced a multi-year commitment as an elite Chrome Club Partner and Official Bank of San Diego Football Club (SDFC) ahead of its inaugural 2025 Major League Soccer season. As a Chrome Club sponsor, CB&T will receive exclusive benefits including an 'on the pitch' premier suite, title sponsorship of the May 31, 2025 home game against Austin FC, co-branded content features, and prominent signage at Snapdragon Stadium.
The partnership focuses on community development through initiatives in financial literacy, small business support, and youth leadership development. Key programs include exclusive small-business events, youth leadership programs, and financial education for SDFC players, staff, fans, and youth academy. CB&T will also integrate banking products and services into the club's ecosystem, offering customers exclusive soccer experiences and discounts throughout the season.
Zions Bancorporation (NASDAQ: ZION) has announced its board's declaration of quarterly dividends. Common shareholders will receive $0.43 per share, payable February 20, 2025, to shareholders of record as of February 13, 2025. The board also declared a regular quarterly cash dividend on Series A perpetual preferred shares (NASDAQ: ZIONP), payable March 17, 2025, to shareholders of record on March 1, 2025.
The company reported total assets of approximately $89 billion as of December 31, 2024, with annual net revenue of $3.1 billion in 2024. Zions operates in 11 western states and is recognized for its small and middle-market banking services, public finance advisory services, and Small Business Administration lending. The company is included in the S&P MidCap 400 and NASDAQ Financial 100 indices.
Zions Bancorporation (NASDAQ: ZION) reported Q4 2024 net earnings of $200 million, or $1.34 per diluted common share, compared to $116 million ($0.78 per share) in Q4 2023 and $204 million ($1.37 per share) in Q3 2024.
The bank's adjusted taxable-equivalent revenue increased 9% year-over-year, while adjusted noninterest expense rose 4%, resulting in a 19% increase in adjusted pre-provision net revenue. Net loan losses were higher at an annualized rate of 0.24%, with two-thirds attributed to a single commercial & industrial credit. Nonperforming loans decreased 18% from Q3, reaching 0.50% of total loans, though classified loans increased primarily in the commercial real estate portfolio.
Zions Bancorporation (NASDAQ: ZION) has announced its earnings release schedule for upcoming quarters through 2025. The financial results will be reported on: January 21, 2025 (Q4 2024), April 21, 2025 (Q1 2025), July 21, 2025 (Q2 2025), and October 20, 2025 (Q3 2025). All conference calls are scheduled for 5:30 p.m. ET (3:30 p.m. MT).
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.
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