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 September 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 September 30, 2026, there were 144.9 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 $1.5 billion at September 30, 2026, compared with $1.7 billion at December 31, 2025.

In July 2026, we announced a plan to repurchase up to $75 million of our common shares during the third quarter of 2026. We repurchased 1.1 million shares for $75 million, at an average price of $69.58 per share in the third quarter of 2026, 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 of 2026, the last of which included $2 million of shares acquired in connection with our stock compensation plan. In October 2026, we announced a plan to repurchase up to $72 million of common shares outstanding during the fourth quarter as part of our previously authorized share repurchase target for 2026 of $300 million.

At September 30, 2026, the AOCI balance reflected a net loss of $2.0 billion, primarily attributable to a decline in the fair value of fixed-rate AFS securities driven by changes in interest rates. This amount includes $1.4 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
Nine Months Ended September 30, 2026
Balance at December 31, 2025	$	(1,917)	$	(23)	$	(1)	$	(1,941)
Other comprehensive income (loss) before reclassifications, net of tax	(109)		(91)		—		(200)
Amounts reclassified from AOCI, net of tax	127		25		—		152
Other comprehensive income (loss)	18		(66)		—		(48)
Balance at September 30, 2026	$	(1,899)	$	(89)	$	(1)	$	(1,989)
Income tax expense (benefit) included in other comprehensive income	$	4	$	(20)	$	—	$	(16)
Nine Months Ended September 30, 2025
Balance at December 31, 2024	$	(2,301)	$	(78)	$	(1)	$	(2,380)
Other comprehensive income before reclassifications, net of tax	142		6		—		148
Amounts reclassified from AOCI, net of tax	137		39		—		176
Other comprehensive income	279		45		—		324
Balance at September 30, 2025	$	(2,022)	$	(33)	$	(1)	$	(2,056)
Income tax expense included in other comprehensive income	$	91	$	15	$	—	$	106


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





Net unrealized gains (losses) on investment securities	$	(58)	$	(62)	$	(168)	$	(182)		Securities gains (losses), net
Less: Income tax expense (benefit)	(14)		(15)		(41)		(45)
Total	$	(44)	$	(47)	$	(127)	$	(137)



Net unrealized gains (losses) on derivative instruments and other	$	(10)	$	(15)	$	(33)	$	(52)		Interest and fees on loans; Interest on short- and long-term borrowings
Less: Income tax expense (benefit)	(2)		(4)		(8)		(13)
Total	$	(8)	$	(11)	$	(25)	$	(39)