Zions Bancorporation, National Association Reports Third-Quarter Financial Results

Zions Bancorporation, N.A. (NASDAQ: ZION) ("Zions" or "the Bank") today reported net earnings applicable to common shareholders for the third quarter of 2021 of $234 million, or $1.45 per diluted common share, compared with net earnings applicable to common shareholders of $167 million, or $1.01 per diluted common share, for the third quarter of 2020, and net earnings applicable to common shareholders of $345 million, or $2.08 per diluted common share, for the second quarter of 2021.

Harris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, “We are pleased with the quarter’s financial results. Following several quarters of weak loan demand, we’re particularly encouraged by the loan growth we reported during the quarter, which, excluding PPP loans, was 5.6% on an annualized basis. We also reported continued strong deposit growth at an annualized pace of 9.3%. Credit outcomes remained strong, with net recoveries at an annualized 0.01% of total loans, and one of the lowest gross charge-off rates in a number of years. These positive outcomes, together with an improving economic outlook, produced a $46 million reversal of loss reserves into income.”

Mr. Simmons continued, “We’re optimistic that, despite lingering supply chain issues and a tight labor market, the economy seems poised for continued growth over the next several quarters as, thanks to a great deal of government stimulus, consumers and most businesses are emerging from the pandemic in relatively strong condition.”

For the full version of the Bank's 2021 third quarter earnings release, including financial tables, 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 third quarter results at 5:30 p.m. ET this afternoon (October 18, 2021). Media representatives, analysts, investors and the public are invited to join this discussion by calling [phone] (domestic and international) and entering the passcode 7682874, 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.