Zions Bancorporation, National Association Earnings Recaps
Q2 2026
Jul 22, 2026
Shares fell 4.5% as investors reacted negatively to cautious outlook commentary and modest net interest income growth, which fell short of driving more meaningful momentum despite disciplined expense management and steady capital markets performance.
Key takeaways
- Reported EPS of $3.05 includes a $215 million pretax gain from Visa shares liquidation and a $37 million net unrealized gain on an SBIC investment; excluding these, EPS was $1.74, up 10% year-over-year.
- Net interest income rose 2% sequentially to $677 million, with a stable net interest margin of 3.27%, showing limited margin expansion despite higher rates.
- Customer-related noninterest income increased to $182 million, supported by capital markets fees which gained $8 million, driven by real estate and investment banking advisory services.
- Adjusted noninterest expenses fell quarter-over-quarter to $546 million, reflecting seasonal compensation reductions and lower FDIC assessments.
- Management’s outlook suggests only moderate growth in net interest income and fee-related income over the next year, signaling tempered expectations amid a challenging environment.
Q1 2026
Apr 21, 2026
Zions Bancorp delivered a solid Q1 with 37% year-over-year earnings growth driven by revenue expansion and credit quality improvements, despite a modest sequential decline. Strategic investments in fee-generating segments and asset growth underpin their positive outlook.
Key takeaways
- Net earnings rose 37% y-o-y to $232 million, benefiting from lower credit losses and tax rate efficiencies.
- Net interest margin remained healthy at 3.27%, with slight quarter-over-quarter pressure from lower yields and deposit mix.
- Commercial loan growth led a 2.4% increase in average loans, with end-of-period deposits expanding 1.8% from year-end.
- Adjusted fee income grew 10% y-o-y to $174 million, supported by capital markets and wealth management momentum.
- Outlook remains positive with expected net interest income growth of 7–8% for 2027, reflecting cautious optimism amid rate uncertainty.
Q3 2025
Oct 21, 2025
Zions Bancorp reported solid third-quarter performance, driven by an expanding net interest margin and strong growth in average customer deposits, despite elevated credit provisions impacting earnings.
Key takeaways
- Net interest margin improved by 11 basis points to 3.28%, marking the seventh consecutive quarter of expansion.
- Third-quarter diluted earnings per share was $1.48, down from $1.63 sequentially, primarily due to a $49 million provision for credit loss.
- Adjusted noninterest income rose 6% quarter-over-quarter, driven by strong capital markets activity and increased customer engagement.
- Average loans and deposits grew at an annualized rate of 2.1% and 3.1%, respectively, indicating positive trends in loan origination and deposit retention.