Core Insights - California Bank & Trust (CB&T) is expanding its presence in the Coachella Valley through the acquisition of FirstBank's California banking operations, integrating four newly converted branches to enhance its service offerings [1][4] - The Grand Opening Celebration is scheduled for March 24, 2025, at the Palm Desert branch, inviting community members to participate in networking and festivities [3][6] - CB&T emphasizes a seamless transition for clients and employees, maintaining high customer service standards and retaining familiar staff in the newly converted branches [4][6] Company Commitment - CB&T is deepening its investment in the Coachella Valley by engaging in community partnerships and supporting local events such as the Coachella Valley Firebirds and Fashion Week El Paseo [5][6] - The bank aims to build meaningful relationships within the community, recognizing that the strength of a community lies in its people and businesses [6] Company Background - CB&T has been serving California families and businesses for over 70 years, providing personalized banking solutions with local decision-making [8] - The bank has received multiple accolades, including being voted "Best Bank" by San Diego Union-Tribune readers for 14 consecutive years and recognized for excellence in Middle-Market and Small Business banking [9]

Core Viewpoint - Zions Bancorporation has shown relatively sound operational performance but has not been immune to the recent turbulence affecting bank stocks [1] Group 1: Company Performance - Despite the recent market turbulence, Zions Bancorporation had been a strong performer in the months following the turbulence [1] - The company is favored for a long-term, buy-and-hold investment strategy, particularly for stocks that can sustainably post high-quality earnings [1] Group 2: Investment Strategy - The investment approach focuses on dividend and income stocks, indicating a preference for stable and reliable earnings [1]

Core Viewpoint - Zions (ZION) is currently considered a more attractive option for value investors compared to First Hawaiian (FHB) based on various valuation metrics [7]. Valuation Metrics - ZION has a forward P/E ratio of 8.74, while FHB has a forward P/E of 12.86 [5]. - ZION's PEG ratio is 1.37, indicating a more favorable growth expectation compared to FHB's PEG ratio of 3.02 [5]. - ZION's P/B ratio stands at 1.15, compared to FHB's P/B of 1.24, suggesting ZION is more undervalued relative to its book value [6]. - ZION has earned a Value grade of B, while FHB has a Value grade of D, further supporting ZION's position as the superior value option [6]. Earnings Outlook - Both ZION and FHB have a Zacks Rank of 1 (Strong Buy), indicating a positive earnings outlook due to favorable analyst estimate revisions [3].

Financial Performance - Zions Bancorporation reported annual net revenue of $3.1 billion for 2024 and total assets of approximately $89 billion as of December 31, 2024[17]. - Total net revenue for 2024 was $3.13 billion, relatively flat compared to $3.12 billion in 2023, with net interest income remaining stable at $2.43 billion[176]. - Diluted EPS for 2024 increased to $4.95, up 14% from $4.35 in 2023, benefiting from lower provision for credit losses and higher noninterest income[170]. - Provision for credit losses decreased by 45% to $72 million in 2024, compared to $132 million in 2023[176]. - Noninterest income rose by 3% to $700 million in 2024, largely due to increases in capital markets fees and commercial account fees[176]. - Total deposits grew by $1.3 billion, or 2%, reaching $76.22 billion, primarily due to an increase in interest-bearing deposits[172]. - The efficiency ratio for 2024 was 64.2%, compared to 62.9% in 2023, reflecting an increase in adjusted noninterest expense[176]. - Common equity increased by 15% to $6.06 billion at year-end 2024, compared to $5.25 billion in 2023[176]. Capital Adequacy - At December 31, 2024, Zions Bancorporation exceeded all capital adequacy requirements under the Basel III capital rules, with a Common Equity Tier 1 (CET1) ratio of 10.9%, significantly above the minimum requirement of 4.5%[28][35]. - The bank's Tier 1 risk-based capital ratio was 11.0%, exceeding the minimum requirement of 6.0%[35]. - Total risk-based capital ratio stood at 13.3%, well above the minimum requirement of 8.0%[35]. - Zions Bancorporation does not currently qualify as a large banking organization but has total assets of $88.8 billion as of December 31, 2024, which may subject it to new capital requirements if it exceeds $100 billion in total assets[38][39]. - Proposed long-term debt requirement for banks with $100 billion or more in total assets is 6% of total risk-weighted assets, 2.5% of total leverage exposure, or 3.5% of average total assets, with an estimated incremental debt of approximately $3.1 billion required over three years if assets reach the threshold[40]. Regulatory Compliance - The bank is subject to various regulatory requirements, including those from the OCC, CFPB, and FDIC, which influence its operations and capital management[25][26]. - The bank plans to file its first informational submission regarding resolution planning in late 2025, as required by new FDIC regulations[36]. - Compliance with the CFPB's new data access requirements is expected by April 1, 2027, with the bank preparing for implementation amid ongoing lawsuits[50][51]. - The company faces heightened regulatory compliance costs, which may impact its business activities and financial performance[119]. - Regulatory requirements may limit the company's ability to increase dividends or repurchase shares, as capital transactions are subject to approval by the OCC[113]. Risk Management - The company has developed comprehensive policies to manage various risks, including credit, interest rate, and operational risks[72]. - The company utilizes models for managing credit losses, interest rate, and liquidity risks, but acknowledges that these models may lead to suboptimal decisions due to inaccuracies, particularly highlighted by customer deposit behavior changes in 2023[102]. - The allowance for credit losses (ACL) increased to $741 million at December 31, 2024, from $729 million at December 31, 2023, reflecting credit quality deterioration and higher reserves for portfolio-specific risks, particularly in commercial real estate[194]. - Rising interest rates and increased market volatility could lead to deterioration in credit quality, impacting income from loan and investment portfolios and necessitating higher charge-offs[74]. - The company faces operational risks from third-party suppliers, which could adversely impact business performance and customer service delivery[103]. - Cybersecurity risks have increased significantly, with ongoing attempts by threat actors to penetrate the company's systems, necessitating continuous investment in security measures[107]. Employee and Workforce - The bank had 9,406 full-time equivalent employees as of December 31, 2024, with 58% being women and 38% identifying as part of a minority demographic[61]. - Over 1,500 training options were offered in 2024, with more than 1,000 training experiences hosted to support employee skill development and career advancement[67]. - The company is committed to fair and equitable compensation, with a recent independent review showing no meaningful differences in pay levels across its workforce[70]. - The company faces challenges in recruiting and retaining qualified personnel due to increased competition and regulatory limitations on compensation[93]. - Full-time equivalent employees decreased by approximately 3% to 9,406 at December 31, 2024[210]. Technology and Innovation - The company completed the final phase of a multi-year project to replace core loan and deposit banking systems in July 2024, aiming to enhance products and services[95]. - The company is investing in technological advancements to remain competitive against both traditional banks and emerging fintech companies[96]. - Total technology spend decreased by $17 million, or 4%, relative to the prior year, as certain capitalized technology investments decreased[212]. Environmental and Social Responsibility - Sustainability practices include LEED Platinum-certified facilities and financing renewable energy projects, reflecting the bank's commitment to environmental responsibility[55]. - The evolving regulatory focus on climate change may impose additional requirements on Zions regarding the management and disclosure of climate-related risks[138]. Market Conditions - The company’s financial performance is highly correlated with local economic conditions, particularly in states vulnerable to natural disasters and climate change[79]. - Protracted congressional negotiations regarding government funding may introduce volatility into the U.S. economy, affecting capital and credit markets[139]. - The company experienced heightened volatility in deposit levels and funding costs following notable bank closures in 2023, which could materially affect liquidity and operating margins[86].

Company Overview - Zions Bancorporation, N.A. is a leading financial services company with approximately $89 billion in total assets as of December 31, 2024 [2] - The company reported annual net revenue of $3.1 billion in 2024 [2] - Zions operates in 11 western states under local management teams and distinct brands, including Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming [2] - The bank is recognized for its performance in small- and middle-market banking and is a leader in public finance advisory services and Small Business Administration lending [2] - Zions is included in the S&P MidCap 400 and NASDAQ Financial 100 indices [2] Recent Developments - The board of directors of Zions Bancorporation has authorized a share repurchase program for fiscal year 2025, allowing for the repurchase of up to $40 million in shares [1]

Company Overview - Zions Bancorporation, N.A. is a leading financial services company with approximately $89 billion in total assets as of December 31, 2024 [2] - The company reported annual net revenue of $3.1 billion for the year 2024 [2] - Zions operates in 11 western states under local management teams and distinct brands, including Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming [2] Industry Position - Zions Bancorporation is recognized for its excellence in small- and middle-market banking, consistently receiving national and state-wide customer survey awards [2] - The company is also a leader in public finance advisory services and Small Business Administration lending [2] - Zions is included in the S&P MidCap 400 and NASDAQ Financial 100 indices, highlighting its significant presence in the financial sector [2] Upcoming Events - Scott McLean, President and COO of Zions Bancorporation, will present at the RBC Capital Markets Global Financial Institutions Conference on March 4, 2025, at 4:00 pm Eastern [1] - An audio webcast of the presentation will be available on the Zions Bancorporation website, with a replay accessible after the event [1]

Core Viewpoint - Zions Bancorporation (ZION) is currently considered an attractive investment opportunity due to its strong value metrics and positive earnings outlook [4][8]. Valuation Metrics - ZION has a Forward P/E ratio of 10.30, which is lower than the industry's average of 11.30. Over the past year, ZION's Forward P/E has fluctuated between 8.72 and 12.64, with a median of 10.05 [4]. - The P/B ratio for ZION is 1.35, compared to the industry's average of 1.37. Its P/B ratio has ranged from 1.07 to 1.53 over the past year, with a median of 1.23 [5]. - ZION's P/S ratio stands at 1.65, significantly lower than the industry's average of 2.32, indicating a potentially undervalued stock based on sales performance [6]. - The P/CF ratio for ZION is 8.97, which is attractive compared to the industry's average of 11.01. This ratio has varied from 6.86 to 11.06 over the past year, with a median of 8.66 [7]. Investment Outlook - The combination of ZION's strong earnings outlook and favorable valuation metrics suggests that the stock is likely undervalued at present, making it a compelling value investment [8].

Core Viewpoint - Zions (ZION) is experiencing solid improvements in earnings estimates, which is likely to positively impact its stock price in the near term [1][2]. Earnings Estimate Revisions - Current-quarter earnings estimate is $1.16 per share, reflecting a +12.62% change from the previous year [4]. - Over the last 30 days, the Zacks Consensus Estimate for Zions has increased by 5.28%, with four estimates moving higher and no negative revisions [4]. - For the full year, the expected earnings are $5.35 per share, representing an +8.08% change from the prior year [5]. - The current year's revisions show a positive trend, with 10 estimates moving higher and a consensus estimate increase of 7.21% [5]. Zacks Rank - Zions currently holds a Zacks Rank 2 (Buy), indicating promising estimate revisions and potential for outperformance [6]. - Stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) have historically outperformed the S&P 500 [6]. Stock Performance - Zions' stock has gained 7.4% over the past four weeks, driven by solid estimate revisions and positive earnings growth prospects [7].

Group 1: Company Overview - Zions is based in Salt Lake City and operates in the Finance sector, with a year-to-date share price change of 5.55% [3] - The company currently pays a dividend of $0.43 per share, resulting in a dividend yield of 3%, which is higher than the Banks - West industry's yield of 2.67% and the S&P 500's yield of 1.49% [3] Group 2: Dividend Performance - Zions has an annualized dividend of $1.72, reflecting a 3.6% increase from the previous year [4] - Over the past five years, Zions has increased its dividend three times, achieving an average annual increase of 5.51% [4] - The current payout ratio is 35%, indicating that the company pays out 35% of its trailing 12-month earnings per share as dividends [4] Group 3: Earnings Expectations - Zions is expected to see earnings growth this fiscal year, with the Zacks Consensus Estimate for 2025 at $5.35 per share, representing a year-over-year growth rate of 8.08% [5] Group 4: Investment Appeal - Zions is considered an attractive dividend play and a compelling investment opportunity, holding a Zacks Rank of 2 (Buy) [7]

As a Chrome Club sponsor, CB&T and SDFC will create community programs aimed at financial literacy, small business support, and youth leadership developmentSAN DIEGO, Feb. 7, 2025 /PRNewswire/ -- California Bank & Trust (CB&T), one of California's premier financial institutions, has announced a multi-year commitment with San Diego Football Club (SDFC) as an elite Chrome Club Partner. This founding sponsorship also names CB&T the Official Bank of SDFC, as the team gears up for its inaugural 2025 Major League ...