Zions Bancorporation (ZION) RBC Capital Markets Global Financial Institutions Conference 2025 summary

Company overview and market positioning

• Operates in 11 states under multiple local brands, focusing on community engagement and local presence.

• Among the largest banks for small and medium-sized businesses, with 65%-70% of revenue from this segment.

• Maintains industry-leading deposit mix and high customer satisfaction, as recognized by Greenwich Research.

• Demonstrates strong credit quality with low charge-off ratios over the past 15-20 years.

• Achieved national distinction in technology, including a unique core system replacement.

Economic outlook and loan growth

• Economic conditions are stable, with no significant impact from recent volatility in bank stocks.

• Commercial real estate issues, especially in office, are manageable with no increase in net charge-offs.

• Small and medium-sized businesses are focusing on inventory management, potentially supporting loan growth.

• Loan growth is guided toward mid-single digits, with CRE loans expected to remain flat and C&I lending as the main growth driver.

• Major markets (Utah, Idaho, Texas, California) are performing well, with strong local leadership.

Net interest income and deposit trends

• Net interest income outlook is positive, with margin expansion expected to continue.

• Deposit betas have normalized post-Silicon Valley Bank disruption, with cost of deposits returning to peer-leading levels.

• Non-interest-bearing deposit balances have stabilized, maintaining a strong mix relative to peers.

• Operational agility in adjusting deposit rates has supported earnings.