During the first quarter of 2026, we issued $500 million of 4.48% Fixed-to-Floating Senior Notes, maturing on February 9, 2029. On July 28, 2026, we issued $500 million of 5.24% Fixed-to-Floating Senior Notes, maturing on October 1, 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 June 30, 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 June 30, 2026, there were 145.9 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 $1.6 billion at June 30, 2026, compared with $1.7 billion at December 31, 2025.

In May 2026, we announced a plan to repurchase up to $225 million of our common shares outstanding during the remainder of 2026. We repurchased 1.2 million shares for $75 million, at an average price of $61.79 per share in the second quarter of 2026 and 1.3 million shares for $77 million, at an average price of $60.79 per share in the first quarter, the latter of which included $2 million of shares acquired in connection with our stock compensation plan. In July 2026, we announced a plan to repurchase up to $75 million of common shares outstanding during the third quarter as part of our previously authorized share repurchase target for 2026 of $300 million.

At June 30, 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 ($1.1 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
Six Months Ended June 30, 2026
Balance at December 31, 2025	$	(1,917)	$	(23)	$	(1)	$	(1,941)
Other comprehensive income (loss) before reclassifications, net of tax	20		(46)		—		(26)
Amounts reclassified from AOCI, net of tax	83		17		—		100
Other comprehensive income (loss)	103		(29)		—		74
Balance at June 30, 2026	$	(1,814)	$	(52)	$	(1)	$	(1,867)
Income tax expense (benefit) included in other comprehensive income	$	31	$	(9)	$	—	$	22
Six Months Ended June 30, 2025
Balance at December 31, 2024	$	(2,301)	$	(78)	$	(1)	$	(2,380)
Other comprehensive income before reclassifications, net of tax	92		6		—		98
Amounts reclassified from AOCI, net of tax	90		28		—		118
Other comprehensive income	182		34		—		216
Balance at June 30, 2025	$	(2,119)	$	(44)	$	(1)	$	(2,164)
Income tax expense included in other comprehensive income	$	59	$	11	$	—	$	70


	Amounts reclassified from AOCI
(In millions)	Three Months Ended June 30,				Six Months Ended June 30,
AOCI components	2026		2025		2026		2025		Affected line item on statement of income





Net unrealized gains (losses) on investment securities	$	(57)	$	(62)	$	(110)	$	(120)		Securities gains (losses), net
Less: Income tax expense (benefit)	(14)		(15)		(27)		(30)
Total	$	(43)	$	(47)	$	(83)	$	(90)



Net unrealized gains (losses) on derivative instruments and other	$	(11)	$	(18)	$	(22)	$	(37)		Interest and fees on loans; Interest on short- and long-term borrowings
Less: Income tax expense (benefit)	(3)		(5)		(5)		(9)
Total	$	(8)	$	(13)	$	(17)	$	(28)