Zions Bancorporation (ZION) Fixed Income Investor Presentation summary

Business model and market positioning

• Operates as a network of community banks with local decision-making and a focus on commercial banking and superior credit performance.

• Serves over one million customers through 407 branches and digital channels, with about two-thirds of revenue from commercial clients.

• Maintains best-in-class credit quality, with a net charge-off ratio of 0.03% annualized in 1Q26.

• Market capitalization stands at $9.0B, with total assets of $88.0B, loans of $61.3B, and deposits of $76.9B as of March 31, 2026.

• Holds a diversified loan portfolio across multiple regions and property types.

Financial performance and key metrics

• Net earnings for 1Q26 were $232 million ($1.56 per share), up 37% year-over-year but down 11% from the prior quarter.

• Net interest margin increased 17 bps year-over-year to 3.27%, but declined 4 bps from the previous quarter.

• Adjusted pre-provision net revenue rose 13% year-over-year, but fell 9% sequentially.

• Average loans grew 2.5% year-over-year, while average customer deposits increased 2.3% year-over-year.

• Efficiency ratio improved to 65.0% in 1Q26 from 66.6% a year earlier.

Capital, liquidity, and risk management

• Common Equity Tier 1 (CET1) capital ratio is 11.5%, above the regulatory well-capitalized threshold and peer median.

• Available liquidity totals $46.9B, with liquidity sources exceeding uninsured deposits.

• Uninsured deposits coverage stands at 134%, and loss-absorbing capital is robust.

• Maintains a granular and diversified CRE portfolio, with weighted average LTVs below 60%.

• Net charge-offs remain low at 0.13% (TTM), and nonperforming assets are at 0.48%.