SALT LAKE CITY, Oct. 8, 2024 /PRNewswire/ -- Ryan Richards, Chief Financial Officer of Zions Bancorporation (NASDAQ: ZION), will present at the BancAnalysts Association of Boston's Annual Bank Conference at the Langham Hotel in Boston Thursday, November 7 at 3:05 pm ET. A live webcast of the session may be accessed on the Zions Bancorporation website, zionsbancorporation.com. The webcast will also be archived and available on the website for 30 days. Zions Bancorporation, N.A. is one of the nation's premier ...

Core Viewpoint - Zions Bancorporation's California Bank & Trust has agreed to acquire four branches from FirstBank, enhancing its market presence in Coachella Valley and expanding its customer base [1][2][4]. Acquisition Details - The acquisition involves approximately $730 million in deposits and $420 million in loans, expected to be completed in Q1 2025, pending customary approvals [2]. - The branches will initially continue operating under the FirstBank name and will be re-branded as California Bank & Trust after the deal's completion [3]. Strategic Rationale - This acquisition will increase Zions' physical locations in Coachella Valley to six and add around 15,000 new customers, resulting in a combined market share of 7% in the region [4]. - The transaction aligns with Zions' growth strategy to deepen its footprint and expand market share, following a previous acquisition of three branches in Northern Nevada in 2022 [4]. Market Performance - Year-to-date, Zions' shares have increased by 7.8%, compared to an 8.6% rise in the industry [6].

Core Points - California Bank & Trust (CB&T) has announced an agreement to acquire four FirstBank branches in Palm Desert and Indio, which includes approximately $730 million in deposits and $420 million in loans [1][2] - The acquisition will expand CB&T's presence in Coachella Valley to six locations and add around 15,000 new customers, resulting in a combined market share of 7% in the region [1][2] - The transaction is expected to be completed in the first quarter of 2025, pending regulatory approval [2] Company Information - CB&T has been recognized as a leading bank in California for over 70 years, receiving multiple awards for excellence in banking services [6] - FirstBank, established in 1963, is known for its digital banking services and operates over 100 branches across Colorado, Arizona, and California [7] - FirstBank has contributed over $90 million to charitable organizations since 2000, highlighting its commitment to corporate philanthropy [7]

SALT LAKE CITY, Sept. 4, 2024 /PRNewswire/ -- Harris Simmons, Chairman and CEO of Zions Bancorporation, N.A. (NASDAQ: ZION), will make a presentation at the Barclays Global Financial Services Conference, Tuesday, September 10 at 12:00 pm Eastern. An audio webcast of the session may be accessed on the Zions Bancorporation website, zionsbancorporation.com. The webcast will also be archived and available on the website for 30 days. Zions Bancorporation, N.A. is one of the nation's premier financial services co ...

Zions Bancorp (ZION) remains well-positioned for growth driven by strong loans and deposits, higher interest rates and efforts to boost fee income. However, a mounting expense base and deteriorating asset quality act as headwinds. Zions remains focused on its organic growth strategy. The company's total revenues recorded a CAGR of 2.3% in the last five years (2018-2023). This was primarily driven by robust loan growth, with loans and net leases (net of unearned income and fees) witnessing a 4.4% CAGR in the ...

SALT LAKE CITY, Aug. 2, 2024 /PRNewswire/ -- Zions Bancorporation, N.A. (NASDAQ: ZION) announced today that its board of directors ("board") declared a regular quarterly dividend of $0.41 per common share, payable August 22, 2024, to shareholders of record at the close of business on August 15, 2024. Additionally, the board declared regular quarterly cash dividends on the company's various perpetual preferred shares, as detailed below. The cash dividend on the following series are payable September 15, 2024 ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

Net Interest Margins Widened As we move forward in 2024, the cost of funds has about peaked, while more and more new loans come with a higher yield. Cost of funds here was 2.11%, 5 basis points higher than in the sequential Q1. Coupled with the big yields on loans, which hit 5.31%, 50 basis points higher than a year ago, the net interest margin widened to 2.98% versus 2.92% a year ago. The margins were also up from the sequential Q1, which was 2.94%. While new loans are going out at a higher rate, the impac ...

Shares of Zions Bancorporation (ZION) gained 3.1% in the after-market session in response to better-thanexpected second-quarter 2024 results. Adjusted net earnings per share (EPS) of $1.21 surpassed the Zacks Consensus Estimate of $1.10. Moreover, the bottom line increased 9% from the year-ago quarter. Results were primarily aided by lower provisions and higher net interest income (NII). Also, higher loans and deposits were other positives. However, a decline in non-interest income and a rise in adjusted no ...

Core Viewpoint - Zions Bancorporation has demonstrated solid performance with a 33% increase in shares over the past year, supported by strong Q2 results and an upgrade to a buy rating due to significant liquidity and strong underwriting results [14][26]. Financial Performance - Net interest income rose by $11 million from Q1 and increased by 1% year-over-year, with a net interest margin (NIM) of 2.98%, the highest level in over a year [3][17]. - Total deposits increased by approximately 1% or $800 million during the quarter, although the cost of deposits rose by 5 basis points [6][19]. - Zions earned $1.28 per share in Q2, beating consensus estimates by $0.18, with adjusted earnings of $1.21, reflecting a 9% increase from the previous year [15]. Loan and Deposit Dynamics - Average loans rose by 0.7%, primarily driven by consumer borrowings, while business and commercial real estate (CRE) loans remained stable [8]. - Noninterest-bearing deposits (NIB) declined by $400 million, but the pace of decline has improved, indicating a potential bottoming out before year-end [7]. Credit Quality and Risk Management - Zions reported a low net charge-off rate of 0.1% in Q2, with a nonperforming asset rate of 0.46%, indicating strong credit quality [23]. - The bank has a well-diversified commercial real estate portfolio with a loan-to-value ratio below 60%, mitigating risks associated with potential defaults [11][23]. Outlook and Growth Expectations - The company expects modest loan growth and a slight increase in net interest income, projecting a 6.3% rise over the next year [21]. - Zions is well-capitalized with a common equity tier 1 (CET1) capital ratio of 10.6%, positioning it favorably against regulatory scrutiny as it approaches the $100 billion asset threshold [24]. Strategic Positioning - Zions is viewed as a potential candidate for bank consolidation in the next 3-5 years, with expectations of becoming a tuck-in acquirer rather than being acquired [24]. - The bank's decentralized business model allows for strong underwriting results and minimal credit losses, despite some higher expenses [15][23].