Zions Bancorporation and National Association Release Fourth Quarter and Full Year 2020 Financial Results

SALT LAKE CITY – () – Zions Bancorporation, NA (NASDAQ: ZION) (“Zions” or “the Bank”) today announced fourth quarter 2020 net income applicable to common shareholders of $ 275 million, or $ 1.66 per diluted common share, relative to earnings applicable to common shareholders of $ 174 million, or $ 0.97 per diluted common share, for the fourth quarter of 2019, and net earnings applicable to common shareholders of $ 167 million, or $ 1.01 per diluted common share, for the third quarter of 2020. The Bank reported net income applicable to common shareholders for 2020 of $ 505 million, or $ 3.02 per diluted common share, compared to $ 782 million. dollars, or $ 4.16 per diluted common share for 2019.

Harris H. Simmons, President and CEO of Zions Bancorporation, said: “We were very pleased with the quarter, which was characterized by stable revenues despite pressure from low interest rates and strong credit results, as evidenced by the very low net loan losses during a difficult time. Non-PPP loan volumes stabilized, with end-of-period loans stable compared to the third quarter, while deposits continued to show very strong growth, with average deposits up 10.6% on a steady pace. annualized over the third quarter and 20.3% compared to the same quarter a year ago. . ”

Mr. Simmons continued, “We are also pleased with the strength of our capital, as evidenced by the growth of our CET1 ratio to 10.8% from 10.2% a year ago. Finally, with the recently passed legislation allowing a second round of PPP loans, we are working hard to provide this assistance to several thousand small businesses across our footprint.

For the full version of the Bank’s fourth quarter 2020 results release, including financial calendars, please visit zionsbancorporation.com.

Additional presentation and conference call

Zions has posted an additional presentation on its website, which will be used to discuss these fourth quarter results at 5:30 p.m. ET this afternoon (January 19, 2021). Representatives of the media, analysts, investors and the public are invited to join this discussion by calling (253) 237-1247 (domestic and international) and entering passcode 7491914, or via webcast at Requirement. A link to the webcast will be available on Zions Bancorporation’s website at zionsbancorporation.com. The webcast of the conference call will also be archived and available for 30 days.

About Zions Bancorporation, NA

Zions Bancorporation, NA is one of the nation’s leading financial services companies with annual net sales of $ 2.8 billion in 2020 and over $ 80 billion in total assets. Zions operates under local management teams and separate brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The Bank is a regular recipient of national and state-wide client surveys in small- and medium-market banking, as well as a leader in public finance and lending advisory services. from the Small Business Administration, recently ranking the 9th largest provider in the United States of the SBA’s Paycheck Protection Program loans. Additionally, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local bank brands are available at zionsbancorporation.com.

Forward-looking information

This earnings release includes “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and assumptions regarding future events or determinations, all of which are subject to change. known and unknown factors. risks, uncertainties and other factors that may cause our actual results, performance or achievements, market trends, industry results or regulatory results to differ materially from those expressed or implied by such forward-looking statements.

Without limiting the foregoing, the words “forecasts”, “targets”, “anticipates”, “believes”, “may”, “continue”, “could”, “”. “” Could “,” plans “,” plans “,” should “,” should “,” will “and the negative thereof and similar words and phrases are intended to identify forward-looking statements. Forward-looking statements, by their nature, deal with matters that are, to varying degrees, uncertain, such as statements regarding future financial and operating results. Actual results may differ significantly from those presented, explicitly or implicitly, in the press release. Important risk factors that can cause such material differences include, but are not limited to, the effects of the spread of the virus commonly known as coronavirus or COVID-19 (and other potentially similar pandemic situations) and the associated impacts on people. general economic conditions on, among other things, the ability of our clients to make timely payments on bonds, commission income due to reduced loan origination activities and card swipe income, business expenses ‘exploitation due to other approaches to doing business, and so on; the Bank’s ability to meet operating leverage objectives; the rate of change of interest rate sensitive assets and liabilities relative to changes in benchmark interest rates; the Bank’s ability to modernize its core deposit system and implement new digital products in order to remain competitive; risks associated with information security, such as breaches and system failures; and legislative, regulatory and economic developments. These risks, along with other factors, are discussed in the Bank’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (SEC) and available on the SEC website (https://www.sec.gov/). In addition, you can obtain documents filed with the SEC by the Bank free of charge by contacting: Investor Relations, Zions Bancorporation, NA, One South Main Street, 11th Floor, Salt Lake City, Utah 84133, (801) 844-7637.

We caution you against placing undue reliance on forward-looking statements, which reflect our opinions only as of the date they are made. Except as required by law, Zions Bancorporation, NA specifically disclaims any obligation to update factors or publicly announce the outcome of revisions to any of the forward-looking statements included herein to reflect events or developments. future.

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