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.
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.
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.
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