v3.26.1
OPERATING SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
OPERATING SEGMENT INFORMATION OPERATING SEGMENT INFORMATION
We provide a wide range of banking products and related services, primarily in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. Our operations are organized principally through seven separately managed affiliate banks, each operating under its own local brand and management team: Zions Bank, CB&T, Amegy, NBAZ, NSB, Vectra, and TCBNW. These affiliate banks constitute our primary operating segments.
Our affiliate model emphasizes local authority and accountability, including locally informed pricing and product customization, to maximize customer satisfaction, strengthen community relationships, and improve profitability and shareholder returns.
At June 30, 2026, Zions Bank operated 92 branches in Utah, 25 branches in Idaho, and one branch in Wyoming. CB&T operated 77 branches in California. Amegy operated 76 branches in Texas. NBAZ operated 56 branches in Arizona. NSB operated 43 branches in Nevada. Vectra operated 33 branches in Colorado and one branch in New Mexico. TCBNW operated two branches in Washington and one branch in Oregon. During the first six months of 2026, all of the Bank's assets and revenues were located in or derived from operations within the United States.
We focus on serving customers in the communities in which we operate. Each operating segment offers a wide range of banking products and related services, delivered digitally or through other traditional channels. These
include commercial and small business banking, capital markets and investment banking, commercial real estate lending, retail banking, and wealth management.
The affiliate banks are supported by an enterprise-level segment—referred to as the “Other” segment—which provides governance and risk oversight, capital allocation, and strategic objectives, and includes centralized technology infrastructure, back-office operations, and certain business lines that are not managed through the affiliate structure.
Centrally provided services are allocated to the operating segments based on estimated or actual usage of those services. Capital is allocated according to the risk-weighted assets held by each segment. We utilize an internal funds transfer pricing (“FTP”) process to measure segment performance. This methodology is subject to ongoing refinement. Transactions between segments are generally conducted at fair value, with intercompany profits eliminated in consolidation. Total average loans and deposits for the segments include minor intercompany amounts and certain deposits with the “Other” segment.
We evaluate segment performance and allocate resources primarily based on income or loss from operations before income taxes. The accounting policies applied to the operating segments are consistent with those described in the Notes to Consolidated Financial Statements.
The chief operating decision maker (“CODM”) is our Chairman and Chief Executive Officer. The CODM regularly receives certain segment-level information, including net interest income, noninterest income, significant noninterest expenses, and income or loss from operations before income taxes. This information is used to evaluate performance and inform resource allocation decisions for each segment.
The following schedule presents selected operating segment information that is regularly provided to the CODM to evaluate performance and allocate resources for the three months ended June 30, 2026 and 2025:
Zions BankCB&TAmegy
(In millions)202620252026202520262025
SELECTED INCOME STATEMENT DATA
Net interest income 1
$187 $182 $164 $161 $147 $137 
Provision for credit losses6 6 (8)(18)2 10 
Net interest income after provision for credit losses181 176 172 179 145 127 
Noninterest income47 49 38 32 50 43 
Noninterest expense:
Salaries and employee benefits36 34 34 33 28 29 
Technology, telecom, and information processing3 4 1 1 2 2 
Occupancy and equipment, net7 7 9 8 8 8 
Other direct expenses 2
13 16 12 11 10 11 
Indirect/allocated expenses90 81 62 56 70 64 
Total noninterest expense149 142 118 109 118 114 
Income (loss) before taxes$79 $83 $92 $102 $77 $56 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$15,358 $15,008 $15,398 $15,176 $14,740 $14,158 
Total average deposits21,129 20,827 15,893 15,210 15,355 14,573 
NBAZNSBVectra
(In millions)202620252026202520262025
SELECTED INCOME STATEMENT DATA
Net interest income 1
$68 $64 $55 $53 $34 $36 
Provision for credit losses1 (5)— 4 — — 
Net interest income after provision for credit losses67 69 55 49 34 36 
Noninterest income14 10 13 13 8 11 
Noninterest expense:
Salaries and employee benefits13 13 11 11 10 10 
Technology, telecom, and information processing1 1 1 1 1 1 
Occupancy and equipment, net3 2 3 3 3 3 
Other direct expenses 2
3 6 5 4 4 3 
Indirect/allocated expenses29 26 25 24 18 17 
Total noninterest expense49 48 45 43 36 34 
Income (loss) before taxes$32 $31 $23 $19 $6 $13 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$5,710 $5,575 $3,803 $3,737 $3,765 $3,871 
Total average deposits7,209 6,863 7,515 7,132 3,476 3,366 
TCBNWOtherConsolidated Bank
(In millions)202620252026202520262025
SELECTED INCOME STATEMENT DATA
Net interest income 1
$21 $18 $1 $(3)$677 $648 
Provision for credit losses2 2 — — 3 (1)
Net interest income after provision for credit losses19 16 1 (3)674 649 
Noninterest income2 2 288 30 460 190 
Noninterest expense:
Salaries and employee benefits3 3 209 203 344 336 
Technology, telecom, and information processing1 — 62 55 72 65 
Occupancy and equipment, net1 1 10 8 44 40 
Other direct expenses 2
1 1 43 34 91 86 
Indirect/allocated expenses6 4 (300)(272)— — 
Total noninterest expense12 9 24 28 551 527 
Income (loss) before taxes$9 $9 $265 $(1)$583 $312 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$2,184 $2,019 $900 $916 $61,858 $60,460 
Total average deposits1,116 1,146 4,545 5,149 76,238 74,266 
1 Interest income is shown net of interest expense consistent with the information regularly provided to the CODM and used to evaluate segment performance.
2 Other direct expenses include professional and legal services, marketing and business development, deposit insurance and regulatory expense, credit-related expense, other real estate expense, and other noninterest expenses.
The following schedule presents selected operating segment information that is regularly provided to the CODM to evaluate performance and allocate resources for the six months ended June 30, 2026 and 2025:
Zions BankCB&TAmegy
(In millions)202620252026202520262025
SELECTED INCOME STATEMENT DATA
Net interest income 1
$369 $358 $328 $312 $292 $269 
Provision for credit losses(7)12 (8)(8)1 13 
Net interest income after provision for credit losses
376 346 336 320 291 256 
Noninterest income99 91 76 60 97 92 
Noninterest expense:
Salaries and employee benefits72 70 69 67 58 59 
Technology, telecom, and information processing7 8 2 2 4 4 
Occupancy and equipment, net14 14 18 17 17 16 
Other direct expenses 2
27 33 23 21 22 25 
Indirect/allocated expenses173 160 118 106 136 128 
Total noninterest expense293 285 230 213 237 232 
Income (loss) before taxes
$182 $152 $182 $167 $151 $116 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$15,206 $14,922 $15,420 $14,927 $14,680 $14,056 
Total average deposits21,040 21,018 15,954 14,917 15,234 14,692 
NBAZNSBVectra
(In millions)202620252026202520262025
SELECTED INCOME STATEMENT DATA
Net interest income 1
$134 $128 $109 $106 $68 $71 
Provision for credit losses8 (13)4 4 (3)9 
Net interest income after provision for credit losses
126 141 105 102 71 62 
Noninterest income25 19 26 25 17 19 
Noninterest expense:
Salaries and employee benefits27 27 23 23 21 21 
Technology, telecom, and information processing2 2 2 3 1 1 
Occupancy and equipment, net6 5 6 5 6 6 
Other direct expenses 2
8 14 9 9 7 6 
Indirect/allocated expenses54 51 49 47 36 34 
Total noninterest expense97 99 89 87 71 68 
Income (loss) before taxes
$54 $61 $42 $40 $17 $13 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$5,660 $5,638 $3,774 $3,698 $3,736 $3,896 
Total average deposits7,087 6,905 7,437 7,149 3,463 3,403 
TCBNWOtherConsolidated Bank
(In millions)202620252026202520262025
SELECTED INCOME STATEMENT DATA
Net interest income 1
$41 $34 $(2)$(6)$1,339 $1,272 
Provision for credit losses(1)(1)2 1 (4)17 
Net interest income after provision for credit losses
42 35 (4)(7)1,343 1,255 
Noninterest income4 4 303 51 647 361 
Noninterest expense:
Salaries and employee benefits7 7 428 404 705 678 
Technology, telecom, and information processing1 1 127 114 146 135 
Occupancy and equipment, net1 1 17 17 85 81 
Other direct expenses 2
3 2 78 61 177 171 
Indirect/allocated expenses10 7 (576)(533)— — 
Total noninterest expense22 18 74 63 1,113 1,065 
Income (loss) before taxes
$24 $21 $225 $(19)$877 $551 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$2,136 $1,992 $883 $921 $61,495 $60,050 
Total average deposits1,116 1,140 4,520 5,366 75,851 74,590 
1 Interest income is shown net of interest expense consistent with the information regularly provided to the CODM and used to evaluate segment performance.
2 Other direct expenses include professional and legal services, marketing and business development, deposit insurance and regulatory expense, credit-related expense, other real estate expense, and other noninterest expenses.