NASDAQ : ZION
Zions Bancorporation, National Association — Financial statements
Financials · Banks - Regional · United States
Last price 66.23 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 9.60B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 3.46B | 3.50B | 3.51B | 3.20B | 2.11B | 1.94B |
| Interest Income on Investments | 647.00M | 683.00M | 779.00M | 751.00M | 593.00M | 332.00M |
| Total Interest Income | 4.10B | 4.18B | 4.29B | 3.95B | 2.71B | 2.27B |
| Interest Paid on Deposits | 1.17B | 1.25B | 1.54B | 1.06B | 70.00M | 30.00M |
| Interest Paid on Borrowings | 228.00M | 307.00M | 323.00M | 446.00M | 115.00M | 29.00M |
| Total Interest Expense | 1.40B | 1.56B | 1.86B | 1.51B | 185.00M | 59.00M |
| Net Interest Income | 2.71B | 2.63B | 2.43B | 2.44B | 2.52B | 2.21B |
| Trust Income | 61.00M | 57.00M | 58.00M | 58.00M | 55.00M | 50.00M |
| Gain (Loss) on Sale of Investments | 289.00M | 52.00M | 19.00M | 4.00M | -15.00M | 71.00M |
| Other Non-Interest Income | 702.00M | 649.00M | 623.00M | 615.00M | 592.00M | 582.00M |
| Total Non-Interest Income | 1.05B | 758.00M | 700.00M | 677.00M | 632.00M | 703.00M |
| Revenues Before Loan Losses | 3.76B | 3.38B | 3.13B | 3.12B | 3.15B | 2.91B |
| Provision for Loan Losses | -6.00M | 72.00M | 72.00M | 132.00M | 122.00M | -276.00M |
| Revenue | 3.76B | 3.31B | 3.06B | 2.98B | 3.03B | 3.19B |
| Salaries and Employee Benefits | 1.35B | 1.31B | 1.25B | 1.24B | 1.21B | 1.10B |
| Occupancy Expenses | 131.00M | 126.00M | 121.00M | 117.00M | 106.00M | 106.00M |
| Federal Deposit Insurance | 56.00M | 75.00M | 80.00M | 79.00M | 50.00M | 34.00M |
| Selling, General & Administrative | 522.00M | 476.00M | 442.00M | 424.00M | 381.00M | 389.00M |
| Other Non-Interest Expense | 169.00M | 159.00M | 139.00M | 145.00M | 135.00M | 118.00M |
| Total Non-Interest Expense | 2.23B | 2.15B | 2.04B | 2.01B | 1.88B | 1.75B |
| EBT Excluding Unusual Items | 1.54B | 1.16B | 1.02B | 976.00M | 1.15B | 1.44B |
| Other Unusual Items | 16.00M | 11.00M | -11.00M | -90.00M | 5.00M | |
| Pretax Income | 1.55B | 1.18B | 1.01B | 886.00M | 1.15B | 1.45B |
| Income Tax Expense | 340.00M | 276.00M | 228.00M | 206.00M | 245.00M | 317.00M |
| Net Income | 1.21B | 899.00M | 784.00M | 680.00M | 907.00M | 1.13B |
| Preferred Dividends & Other Adjustments | 15.00M | 15.00M | 55.00M | 38.00M | 37.00M | 41.00M |
| Net Income to Common | 1.20B | 884.00M | 729.00M | 642.00M | 870.00M | 1.09B |
| Basic Shares Outstanding | 146.27M | 147.12M | 147.21M | 147.75M | 150.06M | 159.91M |
| Diluted Shares Outstanding | 146.35M | 147.16M | 147.22M | 147.76M | 150.27M | 160.23M |
| EPS (Basic) | 8.18 | 6.01 | 4.95 | 4.35 | 5.80 | 6.80 |
| EPS (Diluted) | 8.15 | 6.01 | 4.95 | 4.35 | 5.79 | 6.79 |
| Dividend Per Share | 1.83 | 1.76 | 1.66 | 1.64 | 1.58 | 1.44 |
| Effective Tax Rate | 21.91% | 23.49% | 22.53% | 23.25% | 21.27% | 21.92% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.04B | 2.10B | 2.10B | 1.65B | 3.08B | 2.73B |
| Investment Securities | 13.39B | 5.94B | 6.23B | 5.20B | 5.62B | 14.61B |
| Trading Asset Securities | 191.00M | 424.00M | 481.00M | 468.00M | 851.00M | 591.00M |
| Mortgage-Backed Securities | 8.27B | 14.68B | 15.65B | 17.23B | 18.99B | 20.39B |
| Total Investments | 21.85B | 21.05B | 22.36B | 22.89B | 25.45B | 35.59B |
| Gross Loans | 62.47B | 60.92B | 59.41B | 57.78B | 55.65B | 50.90B |
| Allowance for Loan Losses | -645.00M | -678.00M | -696.00M | -684.00M | -575.00M | -513.00M |
| Other Adjustments to Gross Loans | -45.00M | |||||
| Net Loans | 61.83B | 60.24B | 58.71B | 57.09B | 55.08B | 50.34B |
| Property, Plant & Equipment | 1.35B | 1.57B | 1.55B | 1.57B | 1.58B | 1.51B |
| Goodwill | 1.06B | 1.03B | 1.03B | 1.03B | 1.01B | |
| Other Intangible Assets | 1.31B | 31.00M | 25.00M | 32.00M | 38.00M | 1.00M |
| Loans Held for Sale | 49.00M | 201.00M | 74.00M | 53.00M | 8.00M | 83.00M |
| Accrued Interest Receivable | 340.00M | 341.00M | 364.00M | 322.00M | 226.00M | |
| Long-Term Deferred Tax Assets | 714.00M | 904.00M | 999.00M | 1.13B | 96.00M | |
| Other Real Estate Owned & Foreclosed | 4.00M | 5.00M | 1.00M | 6.00M | 3.00M | 8.00M |
| Other Long-Term Assets | 2.49B | 1.58B | 1.54B | 1.43B | 1.53B | 1.60B |
| Total Assets | 90.92B | 88.99B | 88.78B | 87.20B | 89.55B | 93.20B |
| Interest Bearing Deposits | 51.58B | 47.16B | 51.52B | 48.72B | 35.88B | 41.17B |
| Institutional Deposits | 2.67B | 563.00M | ||||
| Non-Interest Bearing Deposits | 26.37B | 25.82B | 24.70B | 26.24B | 35.78B | 41.05B |
| Total Deposits | 77.95B | 75.64B | 76.22B | 74.96B | 71.65B | 82.79B |
| Short-Term Borrowings | 843.00M | 3.36B | 4.18B | 4.71B | 10.87B | 954.00M |
| Current Portion of Leases | 42.00M | |||||
| Long-Term Debt | 2.42B | 1.47B | 946.00M | 538.00M | 647.00M | 1.01B |
| Long-Term Leases | 219.00M | 244.00M | 202.00M | 202.00M | 226.00M | |
| Pension & Post-Retirement Benefits | 8.00M | 9.00M | 9.00M | 10.00M | 12.00M | |
| Other Long-Term Liabilities | 2.03B | 1.06B | 1.05B | 1.09B | 1.27B | 748.00M |
| Total Liabilities | 83.24B | 81.81B | 82.65B | 81.51B | 84.65B | 85.74B |
| Preferred Stock, Redeemable | 66.00M | 66.00M | 66.00M | 440.00M | 440.00M | 440.00M |
| Additional Paid-In Capital | 1.54B | 1.73B | 1.74B | 1.73B | 1.75B | 1.93B |
| Retained Earnings | 8.07B | 7.33B | 6.70B | 6.21B | 5.81B | 5.17B |
| Comprehensive Income & Other | -1.99B | -1.94B | -2.38B | -2.69B | -3.11B | -80.00M |
| Total Common Equity | 7.62B | 7.11B | 6.06B | 5.25B | 4.45B | 7.02B |
| Shareholders' Equity | 7.68B | 7.18B | 6.12B | 5.69B | 4.89B | 7.46B |
| Total Liabilities & Equity | 90.92B | 88.99B | 88.78B | 87.20B | 89.55B | 93.20B |
| Total Debt | 3.26B | 5.09B | 5.37B | 5.45B | 11.72B | 2.19B |
| Net Cash (Debt) | 2.50B | -364.00M | 63.00M | -1.84B | -6.44B | 11.41B |
| Net Cash Per Share | 17.10 | -2.47 | 0.43 | -12.47 | -42.88 | 71.23 |
| Filing Date Shares Outstanding | 144.94M | 147.89M | 147.89M | 148.16M | 148.65M | 151.57M |
| Total Common Shares Outstanding | 144.94M | 147.65M | 147.87M | 148.15M | 148.66M | 151.62M |
| Book Value Per Share | 52.56 | 48.18 | 40.97 | 35.44 | 29.95 | 46.32 |
| Tangible Book Value | 6.30B | 6.02B | 5.01B | 4.19B | 3.39B | 6.01B |
| Tangible Book Value Per Share | 43.50 | 40.79 | 33.85 | 28.30 | 22.79 | 39.62 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 899.00M | 784.00M | 680.00M | 907.00M | 1.13B | |
| Depreciation & Amortization | 116.00M | 124.00M | 140.00M | 110.00M | -14.00M | |
| Provision for Credit Losses | 72.00M | 72.00M | 132.00M | 122.00M | -276.00M | |
| Change in Trading Asset Securities | -29.00M | 13.00M | 22.00M | -93.00M | -107.00M | |
| Change in Other Net Operating Assets | 3.00M | 164.00M | -170.00M | 483.00M | -51.00M | |
| Other Operating Activities | -23.00M | -42.00M | 48.00M | -89.00M | -80.00M | |
| Operating Cash Flow | 1.07B | 1.15B | 885.00M | 1.47B | 629.00M | |
| Capital Expenditures | -121.00M | -97.00M | -113.00M | -190.00M | -206.00M | |
| Cash Acquisitions | 191.00M | 318.00M | ||||
| Investment in Securities | 1.94B | 159.00M | 4.60B | 5.88B | -14.22B | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -1.25B | -1.71B | -2.10B | -4.63B | 2.81B | |
| Other Investing Activities | -19.00M | 12.00M | -15.00M | 27.00M | 31.00M | |
| Investing Cash Flow | 738.00M | -1.64B | 2.37B | 1.41B | -11.58B | |
| Short-Term Debt Issued | 9.51B | |||||
| Long-Term Debt Issued | 498.00M | 496.00M | ||||
| Total Debt Issued | 498.00M | 496.00M | 9.51B | |||
| Short-Term Debt Repaid | -728.00M | -547.00M | -6.04B | -669.00M | ||
| Long-Term Debt Repaid | -88.00M | -128.00M | -290.00M | -286.00M | ||
| Total Debt Repaid | -728.00M | -635.00M | -6.17B | -290.00M | -955.00M | |
| Net Debt Issued (Repaid) | -230.00M | -139.00M | -6.17B | 9.22B | -955.00M | |
| Issuance of Common Stock | 6.00M | 10.00M | 3.00M | 9.00M | 21.00M | |
| Repurchase of Common Stock | -41.00M | -36.00M | -51.00M | -202.00M | -800.00M | |
| Preferred Share Repurchases | -374.00M | -126.00M | ||||
| Common Dividends Paid | -263.00M | -248.00M | -240.00M | -232.00M | ||
| Preferred Dividends Paid | -4.00M | -41.00M | -29.00M | -29.00M | ||
| Total Dividends Paid | -267.00M | -289.00M | -282.00M | -269.00M | -261.00M | |
| Net Increase (Decrease) in Deposit Accounts | -1.24B | 1.26B | 3.31B | -11.57B | 13.14B | |
| Other Financing Activities | -11.00M | -7.00M | -9.00M | -8.00M | -13.00M | |
| Financing Cash Flow | -1.78B | 427.00M | -3.20B | -2.81B | 11.00B | |
| Net Cash Flow | 32.00M | -65.00M | 59.00M | 62.00M | 52.00M | |
| Free Cash Flow | 952.00M | 1.05B | 772.00M | 1.28B | 423.00M | |
| Free Cash Flow Margin | 28.73% | 34.37% | 25.88% | 42.24% | 13.27% | |
| Free Cash Flow Per Share | 6.47 | 7.14 | 5.22 | 8.52 | 2.64 | |
| Cash Interest Paid | 1.57B | 1.91B | 1.37B | 160.00M | 81.00M | |
| Cash Income Tax Paid | 196.00M | 192.00M | 255.00M | 21.00M | 442.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 9.65B | 8.64B | 8.01B | 6.50B | 7.36B | 9.88B |
| Last Close Price | 65.37 | 57.30 | 51.35 | 40.06 | 42.75 | 53.45 |
| PE Ratio | 8.17 | 9.78 | 10.99 | 10.12 | 8.45 | 9.08 |
| PS Ratio | 2.56 | 2.61 | 2.62 | 2.18 | 2.43 | 3.10 |
| PB Ratio | 1.24 | 1.20 | 1.31 | 1.14 | 1.50 | 1.32 |
| P/FCF Ratio | 5.75 | 9.08 | 7.62 | 8.42 | 5.75 | 23.36 |
| P/OCF Ratio | 5.36 | 8.05 | 6.98 | 7.34 | 5.00 | 15.71 |
| Debt / Equity Ratio | 0.42 | 0.71 | 0.88 | 0.96 | 2.40 | 0.29 |
| Debt / FCF Ratio | 5.35 | 5.11 | 7.06 | 9.15 | 5.17 | |
| Net Debt / Equity Ratio | -0.33 | 0.05 | -0.01 | 0.32 | 1.32 | -1.53 |
| Net Debt / FCF Ratio | 0.38 | -0.06 | 2.39 | 5.03 | -26.98 | |
| Return on Equity (ROE) | 16.66% | 13.51% | 13.27% | 12.85% | 14.68% | 14.71% |
| Return on Assets (ROA) | 1.35% | 1.01% | 0.89% | 0.77% | 0.99% | 1.29% |
| Earnings Yield | 12.24% | 10.40% | 9.78% | 10.46% | 12.33% | 11.43% |
| FCF Yield | 17.40% | 11.02% | 13.12% | 11.88% | 17.40% | 4.28% |
| Dividend Yield | 2.89% | 3.01% | 3.06% | 3.74% | 3.19% | 2.21% |
| Payout Ratio | 23.56% | 29.70% | 36.86% | 41.47% | 29.66% | 23.12% |
| Buyback Yield / Dilution | 0.57% | 0.04% | 0.37% | 1.67% | 6.22% | 3.25% |
| Total Shareholder Return | 3.45% | 3.05% | 3.43% | 5.41% | 9.41% | 5.46% |