During the first quarter of 2026, we issued $500 million of 4.48% Fixed-to-Floating Senior Notes, maturing on February 9, 2029. For more information about our long-term debt, see Note 13 of our 2025 Form 10-K.

Our preferred stock is listed on the National Association of Securities Dealers Automated Quotations (“NASDAQ”) Global Select Market under the ticker symbol “ZIONP.” We have 4.4 million authorized shares of preferred stock, without par value, each carrying a liquidation preference of $1,000 per share. At March 31, 2026, 66,139 shares of Series A preferred stock were outstanding.

Our common stock is listed on the NASDAQ Global Select Market under the ticker symbol “ZION.” At March 31, 2026, there were 147.1 million shares of common stock outstanding, each with a par value of $0.001. The aggregate balance of common stock and additional paid-in-capital was $1.7 billion at both March 31, 2026 and December 31, 2025.

In January 2026, we publicly announced a plan to repurchase up to $75 million of our common shares outstanding during the first quarter of 2026. During the first quarter of 2026, we repurchased approximately 1.3 million common shares outstanding for $77 million, at an average price of $60.79 per share. This amount included $2 million of shares acquired in connection with our stock compensation plan. In May 2026, we publicly announced a plan to repurchase up to $225 million of our common shares outstanding for the remainder of 2026.

At March 31, 2026, the AOCI balance reflected a net loss of $1.9 billion, primarily attributable to a decline in the fair value of fixed-rate AFS securities driven by changes in interest rates. This amount includes $1.5 billion ($1.2 billion after tax) of unrealized losses associated with securities previously transferred from AFS to HTM.


(In millions)	Net unrealized gains (losses) on investment securities		Net unrealized gains (losses) on derivatives and other		Pension and post-retirement		Total
Three Months Ended March 31, 2026
Balance at December 31, 2025	$	(1,917)	$	(23)	$	(1)	$	(1,941)
Other comprehensive income before reclassifications, net of tax	(21)		(22)		—		(43)
Amounts reclassified from AOCI, net of tax	40		9		—		49
Other comprehensive income	19		(13)		—		6
Balance at March 31, 2026	$	(1,898)	$	(36)	$	(1)	$	(1,935)
Income tax expense included in other comprehensive income	$	6	$	(4)	$	—	$	2
Three Months Ended March 31, 2025
Balance at December 31, 2024	$	(2,301)	$	(78)	$	(1)	$	(2,380)
Other comprehensive income before reclassifications, net of tax	68		5		—		73
Amounts reclassified from AOCI, net of tax	43		14		—		57
Other comprehensive income	111		19		—		130
Balance at March 31, 2025	$	(2,190)	$	(59)	$	(1)	$	(2,250)
Income tax expense included in other comprehensive income	$	36	$	6	$	—	$	42


	Amounts reclassified from AOCI
(In millions)	Three Months Ended March 31,
AOCI components	2026		2025		Affected line item on statement of income





Net unrealized gains (losses) on investment securities	$	(53)	$	(57)		Securities gains (losses), net
Less: Income tax expense (benefit)	(13)		(14)
Total	$	(40)	$	(43)



Net unrealized gains (losses) on derivative instruments and other	$	(12)	$	(19)		Interest and fees on loans; Interest on short- and long-term borrowings
Less: Income tax expense (benefit)	(3)		(5)
Total	$	(9)	$	(14)