Zions Bancorporation, National Association Reports First Quarter 2021 Financial Results

Zions Bancorporation, N.A. (NASDAQ: ZION) ("Zions" or "the Bank") today reported net earnings applicable to common shareholders for the first quarter of 2021 of $314 million, or $1.90 per diluted common share, compared with net earnings applicable to common shareholders of $275 million, or $1.66 per diluted common share, for the fourth quarter of 2020, and net earnings applicable to common shareholders of $6 million, or $0.04 per diluted common share, for the first quarter of 2020.

Harris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, “Our first quarter results were strong, reflecting an improving credit environment and outlook, which resulted in minimal net charge-offs and a substantial reversal of loan loss provisions made in prior quarters as the pandemic took hold.”

Mr. Simmons continued, “During the quarter, we assisted more than 24,000 customers in obtaining access to $2.6 billion of governmental relief funds in the form of PPP loans, bringing the total amount of PPP loans made to small businesses over the past year to nearly $10 billion. Non-PPP loan volumes continued to experience attrition while total deposits saw robust growth, both being in large measure a result of unusually strong levels of liquidity in the economy.”

For the full version of the Bank's 2021 first quarter earnings release, including financial schedules, please visit zionsbancorporation.com.

Supplemental Presentation and Conference Call

Zions has posted a supplemental presentation to its website, which will be used to discuss these first quarter results at 5:30 p.m. ET this afternoon (April 19, 2021). Media representatives, analysts, investors, and the public are invited to join this discussion by calling [phone] (domestic and international) and entering the passcode 2659447, or via on-demand webcast. A link to the webcast will be available on the Zions Bancorporation website at zionsbancorporation.com. The webcast of the conference call will also be archived and available for 30 days.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is one of the nation's premier financial services companies with annual net revenue of $2.8 billion in 2020 and more than $85 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending, recently ranking as the tenth largest provider in the U.S. of the SBA’s Paycheck Protection Program loans (including both rounds). In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.