Core Insights - Zions Bancorporation is scheduled to present at the Goldman Sachs 2025 Financial Services Conference on December 9, 2025, at 1:40 pm Eastern [1] - The company reported total assets of approximately $89 billion and annual net revenue of $3.1 billion for the year 2024 [2] Company Overview - Zions Bancorporation operates in 11 western states with local management teams and distinct brands [2] - The company is recognized for its performance in small- and middle-market banking and public finance advisory services [2] - Zions Bancorporation is included in the S&P MidCap 400 and NASDAQ Financial 100 indices [2] Recent Developments - The board of directors declared a regular quarterly dividend of $0.45 per share [4]

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Zions Bancorporation due to allegations of materially misleading business information issued to the public [1] Group 1: Legal Action and Investor Rights - Investors who purchased Zions Bancorporation securities may be entitled to compensation through a class action lawsuit without any out-of-pocket fees [2] - The Rosen Law Firm is preparing a class action to seek recovery of investor losses [2] Group 2: Financial Disclosure and Impact - On October 15, 2025, Zions Bancorporation announced a $50 million charge-off related to a loan from its subsidiary, California Bank & Trust, due to misrepresentations and contractual defaults [3] - Following this announcement, Zions Bancorporation's common stock experienced a decline of 13.14% on October 16, 2025 [4] Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements and recognition in the field [5] - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [5]

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Zions Bancorporation due to allegations of materially misleading business information issued by the company [1]. Group 1: Legal Action and Investor Rights - Shareholders who purchased Zions Bancorporation securities may be entitled to compensation through a class action lawsuit without any out-of-pocket fees [2]. - The Rosen Law Firm is preparing a class action to seek recovery of investor losses related to the alleged misleading information [2]. Group 2: Financial Impact and Company Disclosure - On October 15, 2025, Zions Bancorporation announced a $50 million charge-off for a loan due to misrepresentations and contractual defaults by borrowers [3]. - Following this announcement, Zions Bancorporation's common stock experienced a decline of 13.14% on October 16, 2025 [4]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements for investors, including over $438 million in 2019 [5]. - The firm has been recognized as a leader in the field, being ranked No. 1 by ISS Securities Class Action Services for the number of settlements in 2017 and consistently in the top 4 since 2013 [5].

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Zions Bancorporation due to allegations of materially misleading business information issued to the public [1] Group 1: Legal Action and Investor Rights - Investors who purchased Zions Bancorporation securities may be entitled to compensation through a class action lawsuit without any out-of-pocket fees [2] - The Rosen Law Firm is preparing a class action to seek recovery of investor losses [2] Group 2: Financial Impact and Company Disclosure - On October 15, 2025, Zions Bancorporation announced a $50 million charge-off related to a loan from its subsidiary, California Bank & Trust, due to misrepresentations and contractual defaults [3] - Following this announcement, Zions Bancorporation's common stock experienced a decline of 13.14% on October 16, 2025 [4] Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest against a Chinese company [5] - The firm has been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions for investors [5]

Core Insights - The article highlights the challenges banks face in maintaining employee engagement and satisfaction amid economic uncertainty, regulatory changes, and technological disruptions [1][2] - Despite these challenges, many banks have implemented supportive measures for their employees, including robust benefits and recognition programs [3] Summary by Sections Employee Engagement and Support - Banks have provided comprehensive benefits packages, hybrid work schedules, leadership development opportunities, and paid time off for volunteering [3] - Efforts to foster connections among employees include reducing silos and organizing regular events [3] Best Banks to Work For - In 2025, 90 banks were recognized in American Banker's Best Banks to Work For list, ranging from small institutions like Pan American Bank & Trust to larger ones like SouthState Bank [4] - The ranking is based on employee satisfaction surveys and evaluations of banks' employee policies and benefits [5] Survey Results - Winning banks reported an average of 92% employee confidence in leadership and 95% satisfaction with colleagues, compared to 80% and 90% respectively for non-winning banks [7] - Trust in employer communications was reported at 89% for winning banks versus 75% for others, and 76% of winning bank employees felt they were paid fairly compared to 63% at non-winning banks [7] Publication Details - The list of the Best Banks to Work For is published in two parts, with the current installment featuring banks ranked 21-90 [8]

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Zions Bancorporation due to allegations of materially misleading business information issued by the company [1] Group 1: Legal Actions and Investigations - Rosen Law Firm is preparing a class action to seek recovery of investor losses for those who purchased Zions Bancorporation securities [2] - Zions Bancorporation announced a $50 million charge-off for a loan due to misrepresentations and contractual defaults by borrowers, and will engage counsel for an independent review [3] Group 2: Market Reaction - Following the announcement of the charge-off, Zions Bancorporation's common stock experienced a decline of 13.14% on October 16, 2025 [4] Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements and recognition in the field, including being ranked No. 1 for securities class action settlements in 2017 [5]

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Zions Bancorporation due to allegations of materially misleading business information issued by the company [1] Group 1: Legal Actions and Investigations - Shareholders who purchased Zions Bancorporation securities may be entitled to compensation through a class action lawsuit without any out-of-pocket fees [2] - Zions Bancorporation announced a $50 million charge-off related to a loan underwritten by its subsidiary, California Bank & Trust, citing misrepresentations and contractual defaults [3] - An independent review of the matter will be coordinated by Zions Bancorporation with legal counsel [3] Group 2: Market Reaction - Following the announcement of the charge-off, Zions Bancorporation's common stock experienced a decline of 13.14% on October 16, 2025 [4] Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements and recognition in the field [5] - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [5]

Company Overview - Zions Bancorp is an $89 billion asset bank headquartered in Salt Lake City, operating several segments including Zions Bank, Amegy, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and Commerce Bank of Washington [1] Financial Performance - The bank has a mid-teens Return on Tangible Common Equity (ROTCE) and attractive deposit profile with noninterest bearing deposits at 24% [2] - Fee revenues account for 22% of total revenues, indicating a strong diversification in income sources [2] - The valuation is considered very attractive at 8 times the projected 2026 earnings and 1.3 times tangible book value, highlighting the bank's profitability relative to its market valuation [2]

Summary of Zions Bancorporation Conference Call (November 06, 2025) Company Overview - **Company**: Zions Bancorporation - **Ticker**: NasdaqGS:ZION - **Assets**: $89 billion - **Headquarters**: Salt Lake City - **Segments**: Includes Zions Bank, Amegy, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and Commerce Bank of Washington - **Profitability Metrics**: - ROTCE: Mid-teens - Non-interest bearing deposits: 24% - Fee revenues: 22% - **Valuation**: 8 times 2026 earnings and 1/3 of tangible book value [1][1][1] Core Business Focus - **Small Business Lending**: - Focus on small middle market customers remains strong - Recent progress in SBA loan products, moving up to 14th in league tables - Emphasis on building loyalty through long-term relationships with small businesses [12][12][12][15][15] Market Opportunities - **Geographic Focus**: - Growth observed in Texas (Amegy affiliate), California, Utah, Idaho, and Wyoming - Positive outlook for loan growth despite recent declines in period-end loans [17][18][22] Economic Environment - **Customer Confidence**: - Customers are stable, with indications of rebuilding inventories - Concerns remain regarding tariffs, inflation, and employment [24][25] Deposit Strategy - **Brokered Deposits**: - Successful reduction of brokered deposits, with a focus on core deposit growth - Introduction of a feature-rich demand deposit product aimed at enhancing consumer offerings [28][30][31] Non-Interest Income and Margin - **NIM Target**: - Aiming for a mid-threes NIM, with recent expansion noted over seven consecutive quarters - Factors contributing to NIM improvement include managed deposit costs and remixing earning assets [42][43][46] Capital Management - **CET1 Ratio**: - Focus on CET1 as a binding constraint for returning capital, with a target to align with peers in approximately 12 months - Emphasis on maintaining ample capital to withstand stress losses [52][55] Competitive Landscape - **Market Competition**: - Strong competition in Texas and other fast-growing markets - Zions aims to serve clients seeking community bank services amidst M&A activity in the region [58][60] M&A Strategy - **Acquisition Focus**: - Open to strategic acquisitions that enhance footprint and deposit franchises - Preference for tuck-in deals rather than large-scale mergers [62][64] Credit Quality - **Charge-Off Incident**: - Recent charge-off of a $60 million NDFI loan, with proactive measures taken to reserve for potential losses - Ongoing review of lending practices to ensure best practices are followed [72][73][75] Conclusion - **Future Outlook**: - Zions Bancorporation is positioned for growth with a focus on small business lending, deposit strategy, and maintaining strong capital ratios while navigating a competitive landscape and economic uncertainties [1][1][1]

Financial Performance - Net earnings applicable to common shareholders increased, with diluted EPS rising to $1.48 from $1.37 in the third quarter of 2024, reflecting higher net interest income and noninterest income [19]. - Net interest income grew by $52 million, or 8%, compared to the prior year period, leading to an improved net interest margin of 3.28%, up from 3.03% [20]. - The overall financial outlook remains cautious due to potential economic uncertainties and regulatory changes impacting the banking sector [10]. - Net income for Q3 2025 reached $222 million, a 3.7% increase from $214 million in Q3 2024 [199]. - Net income for the nine months ended September 30, 2025, was $636 million, an increase of 12% compared to $568 million in 2024 [202]. Interest Income and Expense - Total interest income for the third quarter was $1,064 million, down $40 million, or 4%, from the previous year [22]. - Total interest expense decreased by $92 million, or 19%, resulting in net interest income of $672 million for the quarter [22]. - The net interest margin improved to 3.28%, compared with 3.03% in the prior year period [24]. - Net interest income accounted for 78% of total net revenue, increasing by $52 million, or 8%, for the three months ended September 30, 2025 [24]. - Net interest income after provision for credit losses increased to $623 million in Q3 2025, compared to $607 million in Q3 2024, reflecting a growth of 2.6% [198]. Noninterest Income - Customer-related noninterest income increased by $5 million, or 3%, driven by higher loan-related fees, despite an $11 million net credit valuation adjustment loss [20]. - Noncustomer-related noninterest income increased by $12 million, or 86%, primarily due to higher dividends and a gain on the sale of a bank-owned property [23]. - Noninterest income accounted for 22% of total net revenue in both the third quarters of 2025 and 2024, increasing by $17 million, or 10%, for the three months ended September 30, 2025 [57]. - Total noninterest income for the nine months ended September 30, 2025, was $550 million, an increase of $43 million, or 8%, compared to the same period in 2024 [57]. Credit Losses and Provisions - The provision for credit losses was $60 million, primarily related to two commercial borrowers, with $50 million charged off and a full reserve established for the remaining $10 million [20]. - The provision for credit losses was $49 million in Q3 2025, compared to $13 million in Q3 2024, primarily due to credit losses from two related commercial loans [53]. - The allowance for credit losses (ACL) was $725 million as of September 30, 2025, down from $736 million a year earlier, reflecting lower reserves for commercial real estate risks [47]. - The ratio of ACL to total loans and leases decreased to 1.20% at September 30, 2025, compared to 1.25% at the same date in 2024 [47]. Loans and Leases - Total loans and leases increased by $1.4 billion, or 2%, driven by growth in the consumer 1-4 family residential mortgage and commercial and industrial loan portfolios [23]. - Average loans and leases increased by $2.1 billion, or 4%, to $60.8 billion, primarily due to growth in average consumer and commercial loans [34]. - The loan and lease portfolio increased by $892 million, or 2%, to $60,302 million at September 30, 2025, driven by growth in consumer 1-4 family residential mortgages, commercial and industrial loans, and term commercial real estate loans [81]. - The net loan and lease charge-offs totaled $56 million, or 0.37% of average loans and leases annualized, compared to $3 million, or 0.02%, in the prior year quarter [23]. Deposits and Borrowings - Total deposits decreased by $840 million, or 1%, with a notable reduction in interest-bearing deposits due to product migration [23]. - Total borrowed funds increased by $1.8 billion, or 51%, compared to the prior year quarter, driven by higher levels of long-term debt and short-term advances from the FHLB [23]. - Average deposits decreased by $726 million, or 1%, to $74.3 billion, with average noninterest-bearing deposits increasing by $199 million, or 1% [38]. - Total deposits declined by $1.3 billion, or 2%, to $74,878 million from $76,223 million at December 31, 2024, primarily due to a migration of consumer interest-bearing products to noninterest-bearing offerings [87]. Expenses and Efficiency - Noninterest expense increased by $25 million, or 5%, year-over-year, with salaries and employee benefits rising by $20 million due to higher severance and base salaries [62]. - Adjusted noninterest expense increased by $21 million, or 4%, with an efficiency ratio improving to 59.6% from 62.5% as adjusted pre-provision net revenue increased by $53 million, or 18% [63]. - The efficiency ratio improved, indicating better cost management and operational efficiency [19]. - Noninterest expense (GAAP) for the three months ended September 30, 2025, was $527 million, compared to $502 million for the same period in 2024, reflecting a 5% increase [195]. Shareholder Equity and Capital - Total shareholders' equity rose by $741 million, or 12%, to $6.9 billion at September 30, 2025, compared to $6.1 billion at December 31, 2024 [180]. - Common equity tier 1 (CET1) capital totaled $7.7 billion, a 7% increase from $7.2 billion in the prior year [187]. - The CET1 capital ratio improved to 11.3%, compared to 10.7% in the previous year [187]. - Tangible book value per common share increased by $5.52, or 17%, to $38.64, primarily due to increased retained earnings and reduced unrealized losses [187]. Market and Economic Conditions - The company plans to continue focusing on loan syndication activity and enhancing customer swap fees to drive future growth [20]. - The estimated amount of uninsured deposits was $33.6 billion, or 45% of total deposits, consistent with the previous period [88]. - The company actively trades in municipal, agency, and U.S. Treasury securities, exposing it to potential losses from adverse price movements in fixed-income markets [164]. - Changes in the fair value of available-for-sale (AFS) securities and interest rate swaps that qualify as cash flow hedges are recognized in AOCI each reporting period [165].