Zions Bancorporation, National Association Reports First Quarter Financial Results
Rhea-AI Summary
Zions Bancorporation (NASDAQ: ZION) reported net earnings $232 million and EPS $1.56 for Q1 2026, versus $169 million and $1.13 in Q1 2025. Adjusted pre-tax pre-provision net revenue rose 13%; adjusted taxable-equivalent revenue rose 7.4%; adjusted operating expenses rose 4.7%.
Customer deposits grew $2.2 billion year-over-year, long-term debt increased $1.0 billion, classified loans fell 19%, net loan losses annualized were 0.03%, and the bank agreed to acquire the agency lending business of Basis Multifamily Finance.
Positive
- Net earnings $232M in Q1 2026
- Diluted EPS $1.56, up 38% YoY
- Adjusted pre-tax pre-provision net revenue +13%
- Total customer deposits + $2.2B year-over-year
- Tangible common equity +19% year-over-year
Negative
- Net earnings down ~11% from Q4 2025 ($262M to $232M)
- Long-term debt increased $1.0B year-over-year
News Market Reaction – ZION
In the Apr 21 session, ZION declined 1.63%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jan 20 | Q4 2025 earnings | Positive | +4.2% | Strong Q4 2025 earnings with revenue growth, leverage, and solid credit metrics. |
| Oct 20 | Q3 2025 earnings | Positive | +1.4% | Q3 2025 EPS growth, higher NIM, and positive pre-provision revenue trends. |
| Jul 21 | Q2 2025 earnings | Positive | +0.5% | Q2 2025 strong EPS and revenue growth with low net charge-offs. |
| Apr 21 | Q1 2025 earnings | Positive | -1.1% | Q1 2025 higher earnings and NIM despite a tax charge and mixed growth. |
| Jan 21 | Q4 2024 earnings | Positive | -1.6% | Q4 2024 EPS increase with strong revenue but elevated loan losses. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have generally been positive and more often met with modestly positive stock reactions, though there are occasional negative responses despite solid metrics.
Over the past five earnings cycles, ZION has repeatedly reported higher net earnings, EPS growth, and healthy credit metrics. Prior quarters highlighted improving net interest margin, rising customer-related noninterest income, and tangible book value growth. Price reactions were mostly positive, but two quarters saw declines despite constructive fundamentals. Today’s Q1 2026 release continues the trend of higher earnings, strong credit quality, and operating leverage similar to prior reports on Jan 20, 2026 and Oct 20, 2025.
Key Terms
adjusted pre-tax pre-provision net revenue financial
noninterest income financial
tangible common equity financial
brokered deposits financial
short-term borrowings financial
government-sponsored agency programs regulatory
fannie mae dus regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Harris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, "Our first quarter results were solid, with diluted earnings per share rising
Mr. Simmons continued, "Our funding profile has continued to strengthen, with total customer deposits growing
Mr. Simmons concluded, "During the quarter we were pleased to reach an agreement to acquire the agency lending business of Basis Multifamily Finance I, LLC, a subsidiary of Basis Investment Group. Subject to required approvals, the acquisition will enable us to offer multifamily housing clients an expanded set of permanent financing solutions as an originator, underwriter, and servicer of loans made through government-sponsored agency programs including the Fannie Mae DUS® program, and the Freddie Mac Optigo® Conventional and Small Balance Loan programs."
For the complete first quarter 2026 earnings release, including detailed financial schedules, please visit www.zionsbancorporation.com.
Supplemental Presentation and Conference Call
Zions has posted a supplemental presentation to its website in advance of its discussion of first quarter financial results, scheduled for 5:30 p.m. ET on April 20, 2026. Media representatives, analysts, investors, and the general public are invited to participate by calling (877) 709-8150 (domestic and international) and entering the meeting number 13759825, or by joining the on-demand webcast. A link to the webcast will be available on the Company's website at www.zionsbancorporation.com. Following the event, the webcast will be archived and accessible 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
Zions is a consistent recipient of national and state-level customer survey awards recognizing excellence in small- and middle-market banking. It is also a leader in public finance advisory services and Small Business Administration lending. Zions is included in both the S&P MidCap 400 and NASDAQ Financial 100 indices. Additional investor information, along with links to local banking brands, is available at www.zionsbancorporation.com.
Forward-Looking Information
The earnings release contains "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and assumptions regarding future events and outcomes. However, they are inherently subject to known and unknown risks, uncertainties, and other factors that could cause actual results, performances, achievements, industry developments, or regulatory outcomes to differ materially from those expressed or implied. Forward-looking statements may include, among others:
- Statements concerning the beliefs, plans, objectives, goals, targets, commitments, designs, guidelines, expectations, anticipations, and future financial condition, operating results, and performance of Zions Bancorporation, National Association, and its subsidiaries (collectively "Zions Bancorporation, N.A.," "the Bank," "we," "our," "us"); and
- Statements preceded or followed by, or that include, terminology such as "may," "might," "can," "continue," "could," "should," "would," "believe," "anticipate," "estimate," "forecast," "expect," "intend," "target," "commit," "design," "plan," "project," "will," or similar words and expressions, including their negative forms.
Forward-looking statements are not guarantees and should not be relied upon as representing management's views as of any subsequent date. Actual results and outcomes may differ materially from those presented. Although the following list is not comprehensive, key factors that may cause material differences include:
- The quality and composition of our loan and investment securities portfolios and the quality and composition of our deposits;
- Changes in general industry, political, and economic conditions, including increases in the national debt, elevated or persistent inflation, economic slowdowns or recessions, and other macroeconomic challenges; changes in interest rates or reference rates, which could negatively impact our revenues and expenses, the valuation and performance of our assets and liabilities, and the availability and cost of capital and liquidity;
- Political developments, including government shutdowns and other significant disruptions and changes in the funding, size, scope, and effectiveness of the government and its agencies and services;
- The effects of newly enacted and proposed regulations affecting us and the banking industry, as well as changes and uncertainties in the interpretation, enforcement, and applicability of laws and fiscal, monetary, regulatory, trade, and tax policies;
- Actions taken by governments, agencies, central banks, and similar organizations, including those that result in decreases in revenue, increases in regulatory bank fees, insurance assessments, and capital standards; and other regulatory requirements;
- Evolving trade policies and disputes, such as proposed and implemented tariffs and resulting market volatility and uncertainty, including the effects on supply chains, expenses, and revenues for both us and our customers;
- Judicial, regulatory, and administrative inquiries, investigations, examinations or proceedings and the outcomes thereof that create uncertainty for, or are adverse to, us or the banking industry;
- Changes in our credit ratings;
- The growing presence of credit unions, financial technology companies ("fintechs"), and other emerging competitors within the financial services industry, including in the markets in which we operate;
- Our ability to innovate and address competitive pressures and other factors that may affect aspects of our business, such as pricing, the relevance of and demand for our products and services, and our ability to recruit and retain talent;
- The potential for both positive and disruptive impacts of emerging technologies, including stablecoins and other digital currencies, tokenized deposits, blockchain, artificial intelligence ("AI"), quantum computing, and related innovations affecting both us and the banking industry;
- Our ability to complete projects and initiatives and execute our strategic plans, manage our risks, control compensation and other expenses, and achieve our business objectives;
- Our ability to develop and maintain technology and information security systems, along with effective controls designed to guard against fraud, cybersecurity, and privacy risks and related incidents, particularly given the accelerating pace at which threat actors are developing and deploying increasingly sophisticated and targeted tactics against the financial services industry;
- The occurrence of fraud, theft, or other forms of misconduct perpetrated by external parties, including customers and business partners, or by our own employees;
- Our ability to provide adequate oversight of our suppliers to help us prevent or mitigate effects upon us and our customers of inadequate performance, systems failures, or cyber and other incidents by, or affecting, third parties upon whom we rely for the delivery of various products and services;
- The effects of wars, geopolitical conflicts, and other local, national, or international disasters, crises, or conflicts that may occur in the future;
- Natural disasters, pandemics, wildfires, catastrophic events, and other emergencies and incidents, and their impact on our operations, our customers' business, and the communities we serve, including the increasing difficulty and expense of obtaining property, auto, business, and other insurance products;
- Diverging and evolving policy, legal, regulatory, and political developments—combined with differing stakeholder perspectives related to governance, environmental, and social matters—may subject us to potentially conflicting requirements and expectations;
- Securities and capital markets behavior, including volatility and changes in market liquidity and our ability to raise capital;
- The possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and shareholders' equity;
- The impact of bank closures or adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks;
- Adverse news and other expressions of negative public opinion—whether directed at us, other financial institutions, the banking industry, or the broader market—that may adversely affect our reputation and the industry more broadly; and
- Other assumptions, risks, or uncertainties described in the earnings release, and other SEC filings.
We caution against placing undue reliance on forward-looking statements, as they reflect our views only as of the date they are issued. Except as required by law, we expressly disclaim any obligation to update any factors or publicly announce revisions to forward-looking statements to reflect future events or developments.
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SOURCE Zions Bancorporation