Zions Bancorporation N.A. - ZION STOCK NEWS

Zions Bancorporation has been recognized as the No. 2 lender in the U.S. for SBA 504 third-party approvals in fiscal year 2022, providing $189.6 million across 185 loans. The bank's National Real Estate division is set to receive the 504 Community Impact Award on November 16, 2022 for its contributions to small business financing. With a net revenue of $3.0 billion and over $85 billion in assets, Zions continues to support small businesses through its extensive network in 11 western states.

Zions Bancorporation has authorized a $50 million share repurchase for Q4 2022, signaling confidence in its financial stability. The board declared a quarterly dividend of $0.41 per common share, payable on November 17, 2022, to shareholders on record by November 10, 2022. Additionally, cash dividends for perpetual preferred shares will be paid on various dates in December 2022 and March 2023. As of September 30, 2022, Zions reported an annualized net revenue of $3.0 billion and total assets exceeding $85 billion.

Zions Bancorporation reported third-quarter 2022 net earnings of $211 million ($1.40 per share), a decrease from $234 million ($1.45) in Q3 2021. The net interest margin improved to 3.24%, up from 2.68% a year earlier, driven by strong loan growth and rising interest rates. Despite better credit quality metrics, Zions increased its loan loss reserves due to growing economic recession concerns.

Zions Bancorporation (NASDAQ: ZION) will be represented by President & COO Scott McLean at the Barclays Global Financial Services Conference on September 12 at 2:45 pm EDT. Attendees can access a live webcast of the session through the Zions Bancorporation website, which will also archive the session for 30 days. In 2021, Zions reported a net revenue of $2.9 billion and holds approximately $90 billion in assets, serving customers across 11 western states.

Nevada State Bank, a division of Zions Bancorporation, has successfully acquired three branches of Northern Nevada City National Bank. This strategic move adds over $450 million in deposits and $100 million in commercial and consumer loans. The newly acquired branches are located in Reno, Carson City, and Minden, expanding Nevada State Bank's presence to 20 branches in Northern Nevada. Terry Shirey, the bank's CEO, emphasized the commitment to community and customer transition during this acquisition.

Zions Bancorporation, N.A. (NASDAQ: ZION) announced a share repurchase authorization of up to $50 million for Q3 2022. Additionally, a regular quarterly dividend of $0.41 per common share was declared, payable on August 25, 2022, to shareholders of record on August 18, 2022. The company also detailed cash dividends for its perpetual preferred shares, with payments scheduled for September 15 and December 15, 2022. Regulatory approval has been obtained for the share buyback, which reinforces confidence in capital management and shareholder returns.

Zions Bancorporation (NASDAQ: ZION) reported second quarter 2022 net earnings of $195 million, or $1.29 per diluted share, down from $345 million and $2.08 per share in Q2 2021. Compared to Q1 2022, earnings remained stable at $195 million. The bank experienced a $1.5 billion increase in average non-PPP loans, with a 12% annualized growth. Noninterest income rose by 11% year-over-year, while adjusted revenue increased nearly 8%. Zions reported a low net charge-off ratio of 0.07% and a nonperforming asset ratio of 0.4%.

Zions Bancorporation has authorized a share repurchase of up to $50 million for Q2 2022, aiming to enhance shareholder value. Additionally, the board declared a $0.38 quarterly dividend per common share, payable on May 26, 2022, to shareholders on record by May 19, 2022. The company also announced cash dividends for its preferred shares, with Series A, G, and I dividends payable on June 15, 2022, and Series J on September 15, 2022. Zions reported annual net revenue of $2.9 billion in 2021, with total assets exceeding $90 billion.