Zions Bancorporation Reports $452 Million Net Earnings in Q2 2026

Zions Bancorporation, National Association reported significant financial improvements in its second quarter of 2026, with net earnings applicable to common shareholders reaching $452 million, or $3.05 per diluted share, compared to $244 million, or $1.63 per diluted share in the same quarter of 2025. This increase in earnings was primarily driven by a substantial rise in noninterest income, which surged by $270 million, or 142%, largely due to notable gains from the sale of Visa Class B-1 shares and unrealized gains from Small Business Investment Company investments. Net interest income also saw a 4% increase year-over-year, totaling $677 million, supported by lower funding costs and a favorable mix of interest-earning assets.

The bank's efficiency ratio remained stable at 62.2%, unchanged from the prior year, while the adjusted pre-provision net revenue (PPNR) was reported at $332 million. Total loans and leases increased by $1.7 billion, or 3%, driven by growth in the commercial and industrial portfolio, as well as the term commercial real estate portfolio. Nonperforming assets decreased to $298 million, or 0.48% of total loans and leases, reflecting improvements in the commercial real estate loan portfolio.

In terms of strategic developments, Zions Bancorporation completed the acquisition of Basis Multifamily Finance I, LLC on July 31, 2026. This acquisition enhances the bank's capabilities in multifamily lending and expands its product offerings through participation in Fannie Mae and Freddie Mac programs. The bank's total deposits increased by $2.8 billion, or 4%, compared to the previous year, with a notable rise in interest-bearing deposits attributed to focused deposit growth initiatives.

Operationally, the bank reported a total employee headcount of 7,500, reflecting its commitment to maintaining a strong workforce to support its growth initiatives. The bank's geographic footprint spans 11 Western states, with a focus on community engagement and customer satisfaction. Looking ahead, Zions Bancorporation anticipates continued growth in its loan portfolio and noninterest income, while remaining vigilant in managing credit quality and operational efficiency amid evolving market conditions.