BASIS OF PRESENTATION	3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Zions Bancorporation, National Association (“Zions Bancorporation, N.A.,” “the Bank,” “we,” “our,” “us”) is a bank headquartered in Salt Lake City, Utah. We provide a wide range of banking products and related services, primarily in 11 Western states through seven separately managed affiliates: Zions Bank; California Bank & Trust (“CB&T”); Amegy Bank (“Amegy”); National Bank of Arizona (“NBAZ”); Nevada State Bank (“NSB”); Vectra Bank Colorado (“Vectra”); and The Commerce Bank of Washington (“TCBW”), which also operates as The Commerce Bank of Oregon in Oregon. The consolidated financial statements include our accounts as well as those of our majority-owned subsidiaries that are consolidated. This includes wholly owned subsidiaries such as ZMFU II, Inc., which supports our municipal lending operations, and Zions Direct, Inc., a registered broker-dealer under the Exchange Act, among other subsidiaries. Investments where we possess significant influence over the investee's operating and financial policies are accounted for using the equity method. All intercompany accounts and transactions have been eliminated during consolidation. Assets held in an agency or fiduciary capacity are excluded from the consolidated financial statements. These financial statements have been prepared in accordance with accounting principles generally accepted (“GAAP”) in the United States (“U.S.”) and prevailing practices within the financial services industry for interim financial information, and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all normal and recurring adjustments considered necessary for a fair presentation of the interim financial statements have been included. References to GAAP, including standards issued by the Financial Accounting Standards Board, are cited based on the applicable accounting guidance. The results of operations for the three months ended March 31, 2026 and 2025 are not necessarily indicative of the results that may be expected for future periods. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts and related disclosures in the accompanying notes. Actual results could differ from those estimates. For further information, refer to the consolidated financial statements and accompanying Notes included in our 2025 Form 10-K. Subsequent Events We evaluated events occurring between March 31, 2026 and the date of issuance of the accompanying financial statements. Based on this evaluation, we concluded that no material events occurred that would require adjustments to the consolidated financial statements. In 2007, we received 460,153 Class B-1 shares of Visa, Inc. in connection with a restructuring and public offering by Visa U.S.A. These shares were carried at no cost on the consolidated balance sheet. As disclosed in our Form 8-K filed on May 4, 2026, we sold all of these shares subsequent to the balance sheet date and expect to recognize a pre-tax gain of approximately $215 million in the second quarter of 2026 as a result of the sale. Change in Accounting Policy We enter into International Swaps and Derivatives Association, Inc. master netting arrangements, or similar agreements, with certain derivative counterparties. Where legally enforceable, these arrangements provide the right to liquidate collateral and offset amounts due with the same counterparty in the event of default. Under applicable accounting guidance, derivative fair values and the related rights to reclaim cash collateral (receivables) or obligations to return cash collateral (payables) may be presented on a net basis when subject to such master netting arrangements. Historically, derivative assets and liabilities, as well as related cash collateral, were presented on a gross basis. Effective in the first quarter of 2026, we elected to change our accounting policy to present derivative assets, derivative liabilities, and related cash collateral on a net basis on the consolidated balance sheet when supported by a legally enforceable master netting arrangement. This change is considered a preferable method of accounting because it more appropriately reflects how we manage counterparty credit exposure and aligns with industry practice. We retrospectively adopted this change in accounting policy, and the consolidated balance sheet has been recast for all prior periods presented. As a result, amounts previously reported at December 31, 2025 for loans and leases and other assets decreased by $17 million and $283 million, respectively. Short-term borrowings and other liabilities decreased by $232 million and $68 million, respectively. This change had no impact on shareholders’ equity, net income, earnings per share, or cash flows for any period presented. For additional information, see Note 4.

Zions Bancorporation, National Association (“Zions Bancorporation, N.A.,” “the Bank,” “we,” “our,” “us”) is a bank headquartered in Salt Lake City, Utah. We provide a wide range of banking products and related services, primarily in 11 Western states through seven separately managed affiliates: Zions Bank; California Bank & Trust (“CB&T”); Amegy Bank (“Amegy”); National Bank of Arizona (“NBAZ”); Nevada State Bank (“NSB”); Vectra Bank Colorado (“Vectra”); and The Commerce Bank of Washington (“TCBW”), which also operates as The Commerce Bank of Oregon in Oregon.

The consolidated financial statements include our accounts as well as those of our majority-owned subsidiaries that are consolidated. This includes wholly owned subsidiaries such as ZMFU II, Inc., which supports our municipal lending operations, and Zions Direct, Inc., a registered broker-dealer under the Exchange Act, among other subsidiaries.

Investments where we possess significant influence over the investee's operating and financial policies are accounted for using the equity method. All intercompany accounts and transactions have been eliminated during consolidation. Assets held in an agency or fiduciary capacity are excluded from the consolidated financial statements.

These financial statements have been prepared in accordance with accounting principles generally accepted (“GAAP”) in the United States (“U.S.”) and prevailing practices within the financial services industry for interim financial information, and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all normal and recurring adjustments considered necessary for a fair presentation of the interim financial statements have been included. References to GAAP, including standards issued by the Financial Accounting Standards Board, are cited based on the applicable accounting guidance.

The results of operations for the three months ended March 31, 2026 and 2025 are not necessarily indicative of the results that may be expected for future periods. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts and related disclosures in the accompanying notes. Actual results could differ from those estimates. For further information, refer to the consolidated financial statements and accompanying Notes included in our 2025 Form 10-K.

We evaluated events occurring between March 31, 2026 and the date of issuance of the accompanying financial statements. Based on this evaluation, we concluded that no material events occurred that would require adjustments to the consolidated financial statements.

In 2007, we received 460,153 Class B-1 shares of Visa, Inc. in connection with a restructuring and public offering by Visa U.S.A. These shares were carried at no cost on the consolidated balance sheet. As disclosed in our
Form 8-K filed on May 4, 2026, we sold all of these shares subsequent to the balance sheet date and expect to recognize a pre-tax gain of approximately $215 million in the second quarter of 2026 as a result of the sale.

We enter into International Swaps and Derivatives Association, Inc. master netting arrangements, or similar agreements, with certain derivative counterparties. Where legally enforceable, these arrangements provide the right to liquidate collateral and offset amounts due with the same counterparty in the event of default. Under applicable accounting guidance, derivative fair values and the related rights to reclaim cash collateral (receivables) or

Historically, derivative assets and liabilities, as well as related cash collateral, were presented on a gross basis. Effective in the first quarter of 2026, we elected to change our accounting policy to present derivative assets, derivative liabilities, and related cash collateral on a net basis on the consolidated balance sheet when supported by a legally enforceable master netting arrangement. This change is considered a preferable method of accounting because it more appropriately reflects how we manage counterparty credit exposure and aligns with industry practice.

We retrospectively adopted this change in accounting policy, and the consolidated balance sheet has been recast for all prior periods presented. As a result, amounts previously reported at December 31, 2025 for loans and leases and other assets decreased by $17 million and $283 million, respectively. Short-term borrowings and other liabilities decreased by $232 million and $68 million, respectively. This change had no impact on shareholders’ equity, net income, earnings per share, or cash flows for any period presented. For additional information, see Note 4.