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Zions Bancorporation (Nasdaq: ZION) | Company Profile, History, Competitors

 

Zions Bancorporation (NASDAQ: ZION) is a regional bank with key operations in the western part of the United States. As of 2017, it had 10,083 employees and 433 branches across 11 western states (Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming). It was founded in 1873 and headquartered in Salt Lake City, Utah.

Zions is the second largest regional bank in Utah and the fourth largest regional bank in Idaho by total deposits.

History

In 1873, it was founded as Zions Savings Bank and Trust Company by Brigham Young. In 1957, Zions merged with Utah Savings and Trust Company and First National Bank of Salt Lake City to become Zions First National Bank.

In 1960, Keystone Insurance and Investment Company acquired a majority stake in Zions. In 1966, Zions completed an initial public offering.

Management

Harris Simmons (CEO): Harris Simmons serves as CEO since 2002. Prior, he was CEO of Zions First National Bank.

Paul Durdiss (CFO): Paul Durdiss serves as CFO since 2015. Prior, he was Treasurer of Comercia Bank and Suntrust Banks.

Financials

 $ USD in millions     2013     2014  2015  2016  2017
 Book Value $5,461   $6,366   $6,679   $6,925   $7,113 
 Net Interest Margin %
3.28%
3.17%
3.13%
3.25%
3.41%
 Net Charge-Off Rate %
0.13%
0.11%
0.10%
0.31%
0.17%
 Loan/Deposit Ratio %
85%
84%
81%
80%
85%
           
 Revenues $2,034 
 $2,173 
 $2,073 
 $2,383 
 $2,609 
 Net Interest Income  $1,696  $1,680   $1,715   $1,867   $2,065 
 Net Income  $294  $327   $247   $411   $550 
 EPS  $1.58  $1.68  $1.20   $2.00   $2.74 

Loan Portfolio (2017)

 Type  Amount ($bn)  %
 Commercial  $23  51%
 Commercial Real Estate  $11  25%
 Consumer  $11  24%
 Total  $45  100%

Deposit Portfolio (2017)

Zions has one of the lowest cost deposit portfolio across regional banks given it has more non interest-bearing deposits:

 Type   Amount ($bn)  %
 Non Interest-Bearing Deposits
 $24 46%
 Savings and Money Market
$26
48%
 Time Deposits
 $3 6%
 Total Deposits
$53
100%

Branches (2017)

 Region Locations
 Utah
 97
 California 92
 Texas 73
 Arizona 58
 Nevada 50
 Colorado 36
 Idaho
23
 Wyoming 1
 New Mexico
 1
 Washington 1
 Oregon
 1
 Total
433