Zions Bancorporation N.A. - ZION STOCK NEWS

Zions Bancorporation has joined the RTP® network, allowing its clients to access real-time payments directly to their checking accounts. This new functionality offers immediate cash availability, enhancing control over cash flow for both businesses and consumers. The RTP network is the first major U.S. payments infrastructure in over 40 years, facilitating 24/7 transactions with rich data capabilities and instant confirmation. Zions, with $2.8 billion in annual revenue and over $85 billion in assets, operates across 11 states and is a leading provider in public finance and SBA lending.

Zions Bancorporation has authorized a share repurchase program for Q4 2021, allowing for up to $325 million, representing 3.2% of its market value. Additionally, a quarterly dividend of $0.38 per common share was declared, payable on November 18, 2021. Cash dividends for perpetual preferred shares will be distributed on various dates through December 2021 and March 2022. Zions boasts annual net revenue of $2.8 billion and total assets exceeding $85 billion, affirming its standing as a key player in the financial services industry.

Zions Bancorporation reported third quarter 2021 net earnings of $234 million ($1.45 per diluted share), up from $167 million ($1.01) in Q3 2020. However, this reflects a decrease from $345 million ($2.08) in Q2 2021. Loan growth, excluding PPP loans, was an encouraging 5.6% annualized, and deposits grew 9.3% annualized. The bank achieved net recoveries at 0.01% of total loans, supported by a reversal of loss reserves into income amounting to $46 million.

Vectra Bank Colorado has appointed Ryan Morrill as the new Municipal Finance Relationship Manager, enhancing the bank's municipal finance capabilities across Colorado and New Mexico. Morrill, who has six years of experience in municipal lending, will collaborate with various governmental entities to facilitate funding for essential community projects like schools and fire stations. With approximately $3 billion in assets, Vectra is part of the Zions Bancorporation family, serving its clients with a focus on building strong relationships.

Zions Bancorporation (NASDAQ: ZION) has received Bank On certification for its new product, OnBudget Banking. This no-overdraft-fee deposit account aims to support unbanked and underbanked consumers by offering predictability in managing finances with no overdraft charges. Approximately 12 million U.S. adults are unbanked, and 24 million are underbanked. Zions also emphasizes its commitment to economic inclusion through various initiatives.

Zions Bancorporation (NASDAQ: ZION) CFO Paul Burdiss will present at the Barclays Global Financial Services Conference on September 13 at 1:15 p.m. EDT. The session will be available live via webcast on the Zions Bancorporation website and archived for 30 days.

Zions reported $2.8 billion in net revenue for 2020 and has over $85 billion in assets, serving customers in 11 western states.

Zions Bancorporation (NASDAQ: ZION) has authorized an additional common share repurchase of up to $200 million for Q3 2021, raising the total repurchase authorization to $325 million, representing approximately 3.5% of its market capitalization. As of August 24, 2021, the company has already repurchased $98 million worth of shares. The repurchase plan has received regulatory approval, reflecting the company's confidence in its financial position and commitment to enhancing shareholder value.

California Bank & Trust (CB&T) hosted its first all-employee virtual conference from August 17-20, emphasizing investment in associates and community engagement. The event culminated in 'Give Day,' where over 115 employees volunteered with local charities including Feeding San Diego and Habitat for Humanity. CB&T achieved remarkable results, packing over 8,800 pounds of food and surpassing their goal of collecting 500 school supply backpacks, ultimately donating over 1,100. The conference showcased CB&T's commitment to its community and associates, reinforcing its long-term success strategy.

Zions Bancorporation (NASDAQ: ZION) has authorized a $125 million share repurchase for Q3 2021, enhancing shareholder value. The board also declared a regular quarterly dividend of $0.38 per common share, payable August 19, 2021. Shareholders of record will be those on August 12, 2021. Additionally, dividends on various perpetual preferred shares are scheduled, with the next payments on September 15, 2021. Zions has received necessary regulatory approval to proceed with the share buyback strategy, reflecting strong financial health with $2.8 billion in annual revenue and $85 billion in total assets.