Zions Bancorporation

What Zions Bancorporation does

Zions Bancorporation, National Association is a Salt Lake City-headquartered regional bank holding company founded in 1873, operating eight locally-branded affiliate banks (Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, The Commerce Bank of Washington, The Commerce Bank of Oregon) across 11 western U.S. states. The company primarily serves middle market businesses ($10-$500M annual sales), small businesses ($1-$10M), and public-sector clients with commercial lending, SBA lending, public finance advisory, treasury management, capital markets, and wealth management services. As of December 31, 2025, total assets stood at approximately $89 billion with $3.4 billion in annual net revenue, and the stock traded at $69.36 on NASDAQ: ZION (52-week range $46.19-$69.84).

Revenue is generated predominantly through net interest income, with a Q4 2025 net interest margin of 3.31%, supplemented by fee income from capital markets, advisory, treasury management, and wealth management. Zions completed a major core banking modernization in 2024, becoming the only U.S. bank to replace its core loan and deposit systems with a real-time unified data model on distributed infrastructure. Management describes this platform as the foundation for AI adoption, fintech API integration, and planned experimentation with stablecoins and tokenized deposits. Distribution is relationship-based through locally-managed affiliate brand networks with local decision-making, supported by a 400,000 square foot Zions Technology Center under joint CIO Margaret Mayer and Chief Transformation and Operations Officer Ken Collins.

Recent activity mixes offensive expansion and defensive cleanup. The bank announced the acquisition of Basis Multifamily Finance I's agency lending business for Fannie Mae DUS and Freddie Mac Optigo access (announced March 23, 2026), hired Mike Selfridge from Bessemer Trust and First Republic Bank to lead a wealth management expansion (effective June 1, 2026), and launched a VerityPay partnership for instant mobile B2C payments within treasury management (March 10, 2026). Offsetting these are an October 2025 $50 million charge-off related to loan irregularities at California Bank & Trust that triggered multiple securities class action investigations and a 13.14% stock decline, plus the June 2026 divestiture of Amegy Bank's factoring portfolio to Commercial Funding Inc. Q1 2026 results showed $232 million in net earnings, 2% loan and deposit growth, 19% YoY decline in classified loans, 19% YoY growth in tangible book value, and positive 2.7% operating leverage.

Name

Zions Bancorporation

Legal name

Zions Bancorporation, National Association

Website

https://zionsbancorporation.com

Company type

Public

Founded year

1873

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Zions Bancorporation is a Salt Lake City-based regional bank holding company operating eight locally-branded affiliate banks across 11 western U.S. states, serving middle-market businesses, small businesses, and public-sector clients with commercial lending, treasury management, and wealth services.

Ownership category

akta.pro rank

Product category

Regional Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Commercial banking services
• Retail banking
• SBA lending
• Wealth management
• Treasury management

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from lending activities minus interest paid on deposits and borrowings. Primary revenue driver with net interest margin of 3.31% in Q4 2025.
2. Fee Income: Non-interest income from capital markets, advisory services, treasury management, wealth management, and other banking services. Growing component as bank invests in fee businesses.
3. Agency Lending Programs: Revenue from Fannie Mae DUS and Freddie Mac Optigo multifamily lending programs through Basis acquisition, including mortgage servicing rights.

Pricing tiers

Go-to-market motion3 records

Distribution channels1 record

Marketing channels4 records

Core offering

Zions Bancorporation is a regional bank holding company that operates eight locally-branded affiliate banks across 11 western US states, providing commercial lending, retail banking, SBA lending, public finance advisory, treasury management, wealth management, and multifamily agency lending through Fannie Mae DUS and Freddie Mac Optigo programs. It serves middle-market and small businesses, households, and local governments through relationship-based banking with a modernized core banking system.

Product overview

Zions Bancorporation operates as a Collection of Great Banks under distinct local brands (Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, The Commerce Bank of Washington, The Commerce Bank of Oregon) across 11 western US states. The company provides commercial and retail banking services including small business and middle-market banking, public finance advisory, SBA lending, treasury management, wealth management, and agency lending through Fannie Mae DUS and Freddie Mac Optigo programs. A modernized core banking system enables digital banking capabilities and fintech integration.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Banking

Quantifiable outcome

• Net charge-offs at 0.03% annualized in Q1 2026
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability3 records

Feature3 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Commercial Funding Inc. (CFI)minorChannel Partner/ Reseller/ Distributor · 1 June 2026CFI acquired Amegy Bank's factoring portfolio from Zions Bancorporation. Transaction diversifies CFI's client base across western and southwestern states and includes key servicing team members for continuity of existing clients.
• Basis Investment Group (Basis Multifamily Finance I, LLC)coreStrategic or Co-development Partner · 23 March 2026Zions acquired Basis Multifamily Finance I's agency lending business including Fannie Mae DUS and Freddie Mac Optigo programs. The acquisition includes experienced team, agency lending programs, and mortgage servicing rights. A strategic partnership expands both companies' real estate financing and capital formation efforts, with Tammy K. Jones, CEO of Basis, continuing involvement.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Western Alliance Bancorporation: Direct competitor headquartered in Phoenix serving western U.S. middle-market and commercial clients; also entangled in the same Continuum Analytics/FBI matter as Zions, making it the closest regional comparable.
• Comerica Incorporated: Commercial-focused regional bank (HQ Dallas) with middle-market lending, treasury management, and CRE exposure across U.S. Sunbelt/mountain-west markets; similar business mix and credit profile.

Broad incumbents

• U.S. Bancorp: Large super-regional commercial bank with overlapping western U.S. presence and similar middle-market, treasury management, and CRE product sets; broader geographic footprint and larger balance sheet make it a scale benchmark.
• KeyCorp: Mid-cap super-regional with a commercial bank model emphasizing middle-market, SBA, and CRE lending; comparable scale, segment focus, and capital markets ambitions.
• Fifth Third Bancorp: Midwest-anchored super-regional with similar commercial/commercial-real-estate emphasis, treasury management, and payments franchise; a useful operating-leverage benchmark for Zions' modernization story.
• Regions Financial Corporation: Sunbelt-focused super-regional with comparable commercial, small-business, and treasury management offerings; provides a peer for net interest margin and credit cost trajectory.
• M&T Bank Corporation: Super-regional with strong commercial banking, CRE, and multifamily lending franchises; shares the agency-lending/middle-market profile that Zions is building toward.

Emerging players

• Huntington Bancshares: Mid-cap regional with an emphasis on middle-market and SBA lending, payments innovation, and digital banking investments; relevant comparable for Zions' technology modernization and treasury strategy.

Regional players

• Pacific Premier Bancorp: West Coast community bank focused on commercial, CRE, and SBA lending; smaller-scale competitor in overlapping geographies with similar niche specialization.
• BancorpSouth / Cadence Bank: Sunbelt regional bank delivering commercial, treasury, and capital markets services; comparable in asset size and segment focus to Zions' commercial banking franchise.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ZBCRecruiting
• LinkedInlinkedin.com/company/zions-bancorporation

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries8 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zions Bancorporation