ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ Business Summary

Zions Bancorporation, National Association (ZION) operates a decentralized regional banking model, generating revenue primarily through net interest income from its $60 billion loan portfolio and non-interest income from fee-based services. The company’s business is organized into three primary segments: Commercial Banking, which accounts for approximately 65% of net revenue; Retail Banking, providing consumer lending and mortgages; and Wealth Management, offering trust and investment advisory services. Zions maintains a dominant presence across 11 Western U.S. states through local brands such as Zions Bank, California Bank & Trust, and Amegy Bank of Texas, specializing in Small Business Administration (SBA) lending and public finance. Its primary direct competitors include East West Bancorp, Western Alliance Bancorporation, Comerica, and KeyCorp, against whom Zions differentiates itself through localized decision-making and a robust middle-market commercial lending focus. Founded in 1873 by Brigham Young in Salt Lake City, the institution is currently led by Chairman and CEO Harris H. Simmons, who has served as chief executive since 1990 and possesses over four decades of experience at the firm. The executive leadership team includes President and COO Scott J. McLean, formerly of JPMorgan Chase; Executive Vice President and CFO R. Ryan Richards, who assumed the role in April 2024; and Chief Technology Officer Margaret Mayer, a Ph.D. engineer who joined in late 2023 from Discover Financial Services to lead the bank's core digital transformation. The company is publicly traded on the NASDAQ and is a constituent of the S&P 400 Mid-Cap Index, with a board of directors featuring notable figures such as former U.S. SBA Administrator Maria Contreras-Sweet and Pluralsight CEO Aaron B. Skonnard.