A regional bank, much like a smaller Bank of America or Wells Fargo, primarily serving the Western U.S.

Think of it as the JPMorgan Chase for states like Utah, Idaho, and Texas, offering a full range of banking services.

• Deposit Accounts: Providing various checking, savings, money market, and certificate of deposit accounts for individuals and businesses.
• Commercial & Industrial Loans: Offering credit facilities to businesses for operational needs, equipment financing, and growth initiatives.
• Commercial Real Estate Loans: Financing the acquisition, development, and refinancing of commercial properties for businesses and investors.
• Residential Mortgage Loans: Providing loans to individuals for the purchase or refinancing of their homes.
• Treasury Management Services: Assisting businesses with cash flow optimization, payment processing, and risk management solutions.
• Wealth Management & Trust Services: Delivering investment management, financial planning, and trust administration to individuals and institutional clients.

Zions Bancorp NA (ZION) is a regional bank that provides a comprehensive range of banking and related financial services. Its customer base is diverse and primarily consists of individuals and a wide array of businesses, rather than a few identifiable "major customer companies" whose business significantly impacts the bank's revenue. Therefore, Zions Bancorp primarily serves the following categories of customers:

• Individual Consumers: This category encompasses a broad spectrum of individuals and families who utilize Zions Bancorp's retail banking services. This includes personal checking and savings accounts, mortgages, home equity loans, personal loans, and credit cards. It also extends to high-net-worth individuals and families served by its wealth management and private banking divisions.

• Small to Medium-Sized Businesses (SMBs): A crucial segment for regional banks, this category comprises a diverse range of local and regional businesses across various industries. These businesses rely on Zions Bancorp for commercial loans, lines of credit, treasury management services, business checking and savings accounts, and other financial solutions tailored to their operational needs.

• Commercial Real Estate (CRE) Developers and Investors: Zions Bancorp provides financing and banking services to companies and individuals involved in the acquisition, development, and construction of commercial properties. This includes funding for multi-family residential, office buildings, retail centers, and industrial spaces within its market areas.

Harris H. Simmons, Chairman and Chief Executive Officer

Mr. Simmons has served as Chairman of Zions Bancorporation since 2002 and its President and Chief Executive Officer since 1990. He has been an officer of the company since 1981 and first worked for Zions in 1970, holding various positions over more than 40 years with the organization. Prior to 1998, he was president and chief executive officer of Zions First National Bank. Mr. Simmons significantly expanded the bank and led Zions Bancorporation into several Western states, pursuing over 40 bank deals and acquisitions. His father, Roy W. Simmons, founded Keystone Insurance and Investment Co., which acquired a controlling interest in Zions First National Bank in 1960.

R. Ryan Richards, Chief Financial Officer

Mr. Richards became Chief Financial Officer of Zions Bancorporation in April 2024. Previously, he served as the company's Corporate Controller for three years. His background also includes roles as Chief Accounting Officer and Director of Investor Relations at Truist Financial Corporation, and Corporate Controller at SunTrust Banks, Inc. in Atlanta. He also held positions at the Financial Accounting Standards Board and KPMG L.L.P.

Scott J. McLean, President and Chief Operating Officer

Mr. McLean was named President of Zions Bancorporation in March 2014 and Chief Operating Officer in June 2015. Before these roles, he served as CEO of Amegy Bank, an affiliate of Zions Bancorporation. He spent 23 years with Texas Commerce Bank/JPMorgan Chase prior to joining Amegy in 2002, holding various executive positions, including President of JPMorgan Chase in Houston.

Michael Morris, Executive Vice President and Chief Credit Officer

Mr. Morris joined Zions Bancorporation in 2007, initially as Managing Director of Real Estate Capital Markets, and later as Executive Vice President of Real Estate Banking for Zions First National Bank. He was promoted to Executive Vice President and Chief Credit Officer in August 2013, overseeing the credit risk function. Before joining Zions, his experience included serving as Managing Director for JP Morgan Real Estate, Executive Vice President for Bank One (where he was President of Banc One Real Estate Corporation), and Senior Vice President for First Interstate Bank of California.

Keith D. Maio, Executive Vice President and Chief Banking Officer

Mr. Maio is Executive Vice President and Chief Banking Officer of Zions Bancorporation. He has been with Zions Bancorporation for 28 years and previously served as President and CEO of National Bank of Arizona, an affiliate, becoming President in 2001 and CEO in 2005. He joined National Bank of Arizona in 1992, working in commercial lending and real estate. He also held the role of Zions' Executive Vice President and Chief Risk Officer, starting in October 2020.

The key risks to Zions Bancorp NA (ZION) primarily revolve around its loan portfolio quality, sensitivity to interest rate changes, and the broader regulatory and competitive landscape.

1. Credit Risk and Loan Quality Issues: Zions Bancorp has recently experienced significant loan write-offs linked to alleged fraud and misrepresentations by borrowers, leading to increased scrutiny of its underwriting and risk management practices. For example, in October 2025, Zions announced a $50 million loan write-off related to two borrowers accused of fraud, which caused a notable decline in its stock price. This event, combined with a sharp increase in net charge-offs to $56 million for the third quarter ended September 30, 2025, from $3 million a year earlier, raises concerns about the quality of its loan portfolio and the potential for future credit-related losses.
2. Interest Rate Fluctuations and Deposit Costs: The bank exhibits a larger-than-average asset sensitivity, making it vulnerable to changes in interest rates. While a steepening yield curve and lower short-term rates could support better net interest margins, Zions faces risks from rising funding costs and above-average deposit outflows if it is slow to raise deposit rates compared to competitors. This sensitivity can negatively impact its net interest margin and overall profitability, particularly in a volatile interest rate environment.
3. Regulatory Compliance and Competitive Environment: Zions Bancorp operates in a highly regulated banking sector, requiring substantial resources to comply with complex and evolving regulations. The burden of regulatory compliance can increase operational costs and constrain flexibility. Additionally, the bank faces intense competition from traditional banks, credit unions, and fintech companies. Competitors with fewer regulatory restrictions or more innovative services could erode Zions' market share, necessitating continuous innovation and adaptation to maintain its competitive position.

Zions Bancorp NA operates in several key markets within the financial services industry in the United States. The addressable market sizes for their main products and services are as follows:

• Commercial Banking (U.S.): The U.S. commercial banking market size is estimated to be USD 732.5 billion in 2025 and is projected to reach USD 915.45 billion by 2030, growing at a CAGR of 4.56%. Another source indicates the market size was USD 1.5 trillion in 2024 and is projected to be USD 1.6 trillion in 2025.
• Retail Banking (U.S.): The U.S. retail banking market size was valued at USD 1,105 billion in 2024 and is projected to reach USD 1,850 billion by 2032, growing at a CAGR of 6.7% during the forecast period 2026-2032. Other estimates state the U.S. retail banking market is valued at USD 0.87 trillion in 2025 and is forecasted to reach USD 1.08 trillion by 2030.
• Wealth Management (U.S. and North America): The North American wealth management market was valued at USD 937.45 billion in 2023. The U.S. contributed approximately 90-93% of the North American wealth management market in 2009. The global wealth management market size was around USD 1,636.83 billion in 2024 and is predicted to grow to approximately USD 4,893.17 billion by 2034, with North America contributing about two-thirds of the global revenue in 2022.
• Small Business Lending (U.S.): The U.S. small business loan market was valued at USD 245.39 billion in 2023 and is projected to reach USD 349.64 billion by 2033, growing at a CAGR of 3.4%. The total estimated value of the small business lending market in the U.S., according to the Consumer Financial Protection Bureau (CFPB), is $1.4 trillion.
• Commercial Real Estate Lending (U.S.): The U.S. commercial real estate (CRE) mortgage market consists of USD 4.5 trillion backed by income-producing properties and USD 470 billion of construction loans, as of March 2023. Total commercial and multifamily mortgage debt outstanding increased to USD 4.79 trillion in Q4 2024. The U.S. Real Estate Loan Market reached an impressive valuation of $3.5 trillion in 2024.

• Net Interest Margin (NIM) Expansion: The company has demonstrated a consistent improvement in its net interest margin, with expectations for this trend to continue. This expansion is primarily attributed to interest-bearing liabilities repricing downward at a faster rate than earning asset yields and a favorable shift in the composition of interest-earning assets. Management is optimistic that the coming year will bring sustained growth and continued improvement in NIM, contributing to increased profitability.
• Growth in Customer-Related Non-Interest Income and Capital Markets: Zions Bancorp has reported record performance in customer fees, largely driven by strategic investments in its capital markets division. The company anticipates meaningful growth in fee income from its expanding capital markets focus.
• Loan Growth and Expanded Loan Programs: While average loan growth was modest in late 2024, Zions Bancorp has seen positive trends, including a 4% increase in average loans year-over-year by Q2 2025. The company's outlook includes realized loan growth as a key opportunity, supported by the recent launch of new consumer accounts and expanded loan programs.
• Enhanced Digital Capabilities and Strategic Investments: Investments in expanding digital capabilities and strategic acquisitions are contributing to earnings growth. These technological advancements are proving to be beneficial, supporting the overall financial performance.