Welcome to our dedicated page for Zions Bancorporation N.A. news (Ticker: ZION), a resource for investors and traders seeking the latest updates and insights on Zions Bancorporation N.A. stock.
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) reported Q1 2022 net earnings of $195 million, or $1.27 per diluted share, down from $314 million ($1.90) in Q1 2021. The bank saw $1.2 billion in growth in average non-PPP loans, rising at an annualized rate of over 10%. Net interest income excluding PPP increased by over 17%. Credit quality remained strong with net charge-offs at 0.05% and a 7% drop in nonaccrual loans. However, operating costs rose due to compensation increases and inflationary pressures. The company expects stronger earnings as interest rates rise.
Zions Bancorporation (NASDAQ: ZION) will hold its Annual Meeting of Shareholders virtually on Friday, April 29, 2022, at 1:00 p.m. Mountain Time. Shareholders can participate by visiting this website. Record shareholders will have voting rights and can ask questions using their 16-digit control number found on their proxy materials. Zions reported $2.9 billion in net revenue in 2021 and manages over $90 billion in assets across 11 western states, being a key player in public finance and SBA lending.
Zions Bancorporation (NASDAQ: ZION) has announced its earnings release schedule for the fiscal year 2022. Key dates are set for the first quarter on April 25, second quarter on July 26, third quarter on October 24, and fourth quarter on January 23, 2023, with all calls at 5:30 p.m. ET. Zions reported $2.9 billion in net revenue for 2021 and total assets exceeding $90 billion. The company operates under various brands across 11 states and is recognized for its small and middle-market banking services.
Zions Bancorporation (NASDAQ: ZION) will have its President & COO, Scott McLean, present at the Raymond James Annual Investors Conference on March 7 at 9:15 a.m. EST. Investors can access a live webcast on zionsbancorporation.com, which will remain archived for 30 days. In 2021, Zions reported annual net revenue of $2.9 billion and boasts over $90 billion in total assets, operating across 11 western states. The bank is noted for its customer service excellence and significant SBA loan provision, ranking tenth nationwide in Paycheck Protection Program loans.
Nevada State Bank, a division of Zions Bancorporation (NASDAQ: ZION), has announced an agreement to acquire three branches from City National Bank located in Northern Nevada. The transaction includes $480 million in deposits and $110 million in loans, with the purchase expected to finalize in Q3 2022, pending regulatory approval. City National clients will maintain access to their accounts throughout the transition. This acquisition aims to enhance Nevada State Bank's market presence and service offerings in the region.
Zions Bancorporation has authorized a $50 million share repurchase for Q1 2022, reflecting confidence in shareholder value. Additionally, a quarterly dividend of $0.38 per common share was declared, payable on February 24, 2022, to shareholders of record on February 17, 2022. Cash dividends on preferred shares were also announced, with payments scheduled in March and June 2022. The company reported $2.9 billion in annual net revenue for 2021, highlighting its strong financial position with over $90 billion in total assets.
Zions Bancorporation reported fourth-quarter 2021 net earnings of
Nevada State Bank has been recognized as the "Best in State" for the fifth consecutive year, receiving top honors in multiple categories. The bank earned Gold for "Best Bank" and "Best Wealth Management," along with Silver for "Best Mortgage Lender" in the 2021 Las Vegas Review-Journal survey. Earlier in the year, it won similar accolades in the Reno Gazette Journal's poll. President Terry Shirey noted that these awards reflect the bank's commitment to service and community support over its 61-year history. Nevada State Bank is a division of Zions Bancorporation (NASDAQ: ZION).
FAQ
What is the current stock price of Zions Bancorporation N.A. (ZION)?
What is the market cap of Zions Bancorporation N.A. (ZION)?
What is Zions Bancorporation, N.A.?
Where is Zions Bancorporation headquartered?
What are the primary services offered by Zions Bancorporation?
How did Zions Bancorporation perform financially in Q4 2023?
What is the loan portfolio quality at Zions Bancorporation?
In which stock indices is Zions Bancorporation included?
How many banking offices does Zions Bancorporation operate?
What was Zions Bancorporation's total assets and net revenue in 2023?
How can investors access Zions Bancorporation's financial reports?