Financial Data and Key Metrics Changes - Customer deposits increased by $2 billion for the quarter, reflecting customer loyalty and confidence [8] - Total deposit costs rose to 127 basis points from 47 basis points in the previous quarter, with period-end customer deposits up 3.2% [11][26] - Diluted earnings per share was reported at $1.11, impacted by increased deposit and funding costs on net interest income [12] - Adjusted pre-provision net revenue was $296 million, showing a slight decline compared to the previous quarter and year-ago quarter [14] Business Line Data and Key Metrics Changes - Noninterest income from customer-related activities was $162 million, a 7% increase from the prior quarter and 5% from the prior year [20] - Adjusted noninterest expense decreased by 3% from the prior quarter to $494 million, reflecting seasonal expense variations [23] Market Data and Key Metrics Changes - Loan growth has moderated, with expectations for slight increases in the second quarter of 2024 compared to the second quarter of 2023 [24] - The cost of deposits increased significantly, with interest-bearing deposit yield at 2.8% and total cost of deposits at 1.7% [26] Company Strategy and Development Direction - The company is focused on managing expenses in a challenging revenue environment, with a goal to flatten expenses over the next year [9] - There is a commitment to optimizing the funding mix and interest rate hedging strategies in response to interest rate risks [8] Management's Comments on Operating Environment and Future Outlook - Management noted that the banking industry's environment has stabilized compared to the disruptions seen in the first quarter [6] - The outlook for net interest income in the second quarter of 2024 is stable to slightly decreasing relative to the second quarter of 2023, influenced by loan growth and competition for deposits [19][36] Other Important Information - The CET1 ratio increased to 10.0%, indicating a strong capital position relative to the bank's risk profile [37] - Credit quality remains strong, with non-performing assets and classified loan levels stable and low [38] Q&A Session Summary Question: Trends in deposit balances and rates - Management indicated that the net interest margin improved to 2.92%, attributed to a flattening of trends in deposit rates [43][44] Question: Ongoing benefits from severance costs - Management discussed that severance costs are part of a larger program aimed at maintaining noninterest expense levels consistent with the current quarter [45] Question: Noninterest-bearing deposit mix - Management noted that the noninterest-bearing deposit mix is influenced by macroeconomic conditions and the growth of interest-bearing deposits [47][49] Question: Capital return and stock buybacks - Management stated that due to regulatory uncertainties, there are no immediate plans for stock buybacks, focusing instead on organic capital growth [53][54] Question: Growth of broker deposits and customer funds - Management highlighted the ability to utilize broker deposits while also seeing good progress in building customer deposits, with expectations to replace brokered CDs with lower-cost customer funds [57][58]

Second Quarter 2023 Financial Review ZIONS BANCORPORATION July 19, 2023 Forward-Looking Statements; Use of Non-GAAP Financial Measures 2 Forward Looking Information This earnings presentation includes "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements, often accompanied by words such as "may," "might," "could," "anticipate," "expect," and similar terms, are based on management's current expectations and assumptions regarding future ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ COMMISSION FILE NUMBER 001-12307 ZIONS BANCORPORATION, NATIONAL ASSOCIATION (Exact name of registrant as specified in its charter) United States ...

Zions Bancorporation, National Association (NASDAQ:ZION) Q1 2023 Earnings Conference Call April 19, 2023 5:30 PM ET Company Participants James Abbott - Director, Investor Relations Harris Simmons - Chairman and Chief Executive Officer Paul Burdiss - Chief Financial Officer Michael Morris - Chief Credit Officer Scott McLean - President and Chief Operating Officer Conference Call Participants Manank Gosalia - Morgan Stanley Dave Rochester - Compass Point John Pancari - Evercore ISI Brad Milsaps - Piper Sandle ...

Financial Performance - Zions Bancorporation reported annual net revenue of $3.2 billion in 2022 and total assets of approximately $90 billion as of December 31, 2022[15]. - Net interest income increased by $312 million, or 14%, driven by a higher interest rate environment, despite a $188 million decrease from SBA PPP loans[136]. - The net interest margin (NIM) improved to 3.06% from 2.72%, reflecting higher yields on interest-earning assets[136]. - Total loans and leases grew by $4.8 billion, or 9%, primarily in commercial and industrial, consumer residential mortgage, and commercial real estate portfolios[139]. - Net earnings applicable to common shareholders decreased by 20% to $878 million, impacted by a rise in the provision for credit losses[140]. - Total noninterest income decreased by $71 million, or 10%, in 2022, accounting for 20% of net revenue compared to 24% in 2021[168]. - The efficiency ratio improved to 58.8% from 60.8%, as adjusted revenue growth outpaced noninterest expense growth[140]. Capital Adequacy - Zions Bancorporation exceeded all capital adequacy requirements under the Basel III capital rules, with a Common Equity Tier 1 (CET1) ratio of 9.8% compared to the minimum requirement of 4.5%[29]. - The bank's Tier 1 capital ratio was 10.5%, exceeding the minimum requirement of 6.0%[29]. - Total capital ratio stood at 12.2%, well above the minimum requirement of 8.0%[29]. - The bank maintained a Tier 1 leverage ratio of 7.7%, surpassing the minimum requirement of 4.0%[29]. - The company’s ability to pay dividends is subject to regulatory restrictions, impacting shareholder returns[9]. Risk Management - The company has established a comprehensive risk management framework to address credit risk, interest rate risk, and other operational risks[54]. - The provision for credit losses was $122 million in 2022, compared to $(276) million in 2021, reflecting loan growth and economic scenario deterioration[140]. - The allowance for credit losses (ACL) reached $636 million at the end of 2022, up from $553 million in 2021, primarily due to loan growth and economic scenario deterioration[161]. - The company is closely monitoring evolving ESG standards and regulations, which may increase operational costs or limit business activities in certain jurisdictions[38]. Employee and Workforce - The company had 9,989 full-time equivalent employees as of December 31, 2022, with a diverse workforce comprising 59% women and 37% people of color[42]. - The company hosted over 1,000 training experiences in 2022 to support employee skill development and career advancement[48]. - The company experienced challenges in filling job openings due to competitive labor market conditions but began to see improvements in 2022[49]. - Salaries and employee benefits increased by $108 million, or 10%, primarily due to inflationary pressures and increased headcount[175]. Regulatory Compliance - The company is subject to various regulatory requirements, including limitations on dividends and restrictions on acquisitions, which may impact its operational flexibility[9]. - The company faced increased costs related to compliance with banking regulations, impacting its financial performance[93]. - The company is subject to legal and governmental proceedings that could adversely affect its financial condition and operations[98]. - The company has incurred substantial costs due to regulatory changes and may face further impacts from proposed regulations affecting financial services firms[95]. Market and Economic Conditions - The company’s operations and financial results have been adversely affected by the COVID-19 pandemic, impacting loan demand and deposit levels[108]. - Liquidity is primarily sourced from customer deposits, which may be affected by increased competition and Federal Reserve's monetary policy tightening[64]. - Rating downgrades from agencies could increase costs and negatively impact liquidity and market prices of securities[65]. Shareholder Returns - The company repurchased 3.6 million common shares for $200 million in 2022, at an average price of $56.13 per share, and has approved an additional $50 million share repurchase plan for Q1 2023[120][121]. - The company declared a dividend of $0.41 per common share in January 2023, payable on February 23, 2023[119]. Technology and Operations - Total technology spend increased to $451 million in 2022 from $435 million in 2021, reflecting ongoing investments in technology initiatives[182]. - Significant changes are being made, including organizational restructurings and technology upgrades, which may not yield the intended results[70]. - Operational disruptions may arise from ongoing projects, leading to potential regulatory scrutiny and financial liability[71]. Asset and Liability Management - The company’s net interest income is significantly influenced by interest rate risk, which is managed by its Asset Liability Management Committee[61]. - The transition away from LIBOR could adversely affect the interest rates on floating-rate obligations, loans, and deposits, potentially impacting revenue and expenses[62]. - The average cost of deposits was 0.09% in 2022, compared to 0.04% in 2021, reflecting a higher interest rate environment[148].

Zions Bancorporation, National Association (NASDAQ:ZION) Q4 2022 Earnings Conference Call January 23, 2023 5:30 PM ET Company Participants James Abbott - Director, IR Harris Simmons - Chairman and CEO Paul Burdiss - CFO Scott McLean - President and COO Michael Morris - Chief Credit Officer Conference Call Participants Manan Gosalia - Morgan Stanley Ebrahim Poonawala - Bank of America John Pancari - Evercore ISI Chris McGratty - KBW Peter Winter - D.A. Davidson Ken Usdin - Jefferies Operator Greetings, and w ...

2022 Fourth Quarter Investor Update ZIONS BANCORPORATION November 2022 Forward-Looking Statements; Use of Non-GAAP Financial Measures 2 Forward Looking Information This earnings presentation includes "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements, often accompanied by words such as "may," "might," "could," "anticipate," "expect," and similar terms, are based on management's current expectations and assumptions regarding future e ...

2022 Fourth Quarter Investor Update ZIONS BANCORPORATION November 2022 Forward-Looking Statements; Use of Non-GAAP Financial Measures 2 Forward Looking Information This earnings presentation includes "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements, often accompanied by words such as "may," "might," "could," "anticipate," "expect," and similar terms, are based on management's current expectations and assumptions regarding future e ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ COMMISSION FILE NUMBER 001-12307 ZIONS BANCORPORATION, NATIONAL ASSOCIATION (Exact name of registrant as specified in its charter) United St ...

Zions Bancorporation, National Association (NASDAQ:ZION) Q3 2022 Earnings Conference Call October 24, 2022 5:30 PM ET Company Participants Ryan Richards - Corporate Controller Harris Simmons - Chairman and CEO Paul Burdiss - CFO Scott McLean - President and COO Keith Maio - Chief Risk Officer Michael Morris - Chief Credit Officer Conference Call Participants John Pancari - Evercore ISI Ebrahim Poonawala - Bank of America Dave Rochester - Compass Point Ken Usdin - Jefferies Brad Milsaps - Piper Sandler Jenni ...