Zions Bancorporation Elects Maria Contreras-Sweet, 24th Administrator of the SBA, to Its Board of Directors

Rhea-AI Summary

Zions Bancorporation (Nasdaq: ZION) has elected Maria Contreras-Sweet to its board of directors during its annual shareholder meeting. With a rich background as the 24th Administrator of the U.S. Small Business Administration and as an entrepreneur, Contreras-Sweet adds significant experience in supporting small and mid-sized businesses. Her history includes founding a community bank in Los Angeles, aiming to enhance capital access for diverse business groups. Chairman and CEO Harris H. Simmons emphasized her potential to strengthen Zions’ focus on these market segments.

Positive

• Appointment of Maria Contreras-Sweet to the board enhances leadership diversity.
• Contreras-Sweet's experience with small businesses is aligned with Zions' strategy.
• Her background in public service may improve community relations and outreach.

Negative

• None.

Zions Bancorporation, N.A. (Nasdaq: ZION) today announced Maria Contreras-Sweet was elected to its board of directors at its annual meeting of shareholders.

Contreras-Sweet is managing member of both Contreras Sweet Companies, a marketing and research solutions business, and Rockway Equity Partners, a private equity firm. She served as 24th administrator of the U.S. Small Business Administration and as a member of former President Barack Obama’s cabinet.

Over her career, Contreras-Sweet has started three businesses, including a community bank in Los Angeles focused on small and mid-sized businesses, where she served as its executive chairwoman for seven years.

“We are very pleased and proud to welcome Maria Contreras-Sweet to our board of directors," said Harris H. Simmons, Zions Bancorporation’s Chairman and CEO. “Her extensive experience in government and as an accomplished entrepreneur will provide a valuable perspective to our board. Her deep understanding of small and medium-sized businesses, and her commitment to helping such businesses thrive, will be highly valuable to Zions Bancorporation as we continue to build a bank with a strong focus on this market segment.”

“I am honored to join the board of Zions Bancorporation — a truly preeminent financial institution in the western United States,” said Contreras-Sweet. I particularly appreciate their focus on supporting the growth of small and mid-sized businesses, and their determination to demonstrate leadership in providing capital to women and minority-owned businesses, and I look forward to making contributions in this sphere at Zions.”

Zions Bancorporation, N.A. is one of the nation's premier financial services companies with annual net revenue of $2.8 billion in 2020 and more than $80 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending. In 2020, Zions ranked as the 9th largest provider in the U.S. of the SBA’s Paycheck Protection Program loans. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210430005590/en/

FAQ

Who is Maria Contreras-Sweet and what is her role at Zions Bancorporation?

Maria Contreras-Sweet is a newly elected board member at Zions Bancorporation, bringing extensive experience in entrepreneurship and public service.

What experience does Maria Contreras-Sweet have that will benefit Zions Bancorporation?

Contreras-Sweet has a strong background in small business advocacy and finance, having previously led a community bank and served as Administrator of the U.S. Small Business Administration.

How does Contreras-Sweet's appointment impact Zions Bancorporation's focus on small businesses?

Her insights and commitment to small and mid-sized businesses are expected to enhance Zions' initiatives in supporting these sectors.

What was Zions Bancorporation's annual revenue in 2020?

Zions Bancorporation reported an annual net revenue of $2.8 billion in 2020.