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OPERATING SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
OPERATING SEGMENT INFORMATION OPERATING SEGMENT INFORMATION
We manage our operations with a focus on geographic area, primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. We conduct our operations primarily through seven separately managed affiliate banks, each with its own local branding and management team: Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington. These affiliate banks comprise our primary operating segments. We emphasize local authority, responsibility, pricing, and customization of certain products to maximize customer satisfaction, strengthen community relations, and improve profitability and shareholder returns.
At September 30, 2025, Zions Bank operated 93 branches in Utah, 25 branches in Idaho, and one branch in Wyoming. CB&T operated 77 branches in California, including the four FirstBank Coachella Valley, California branches we acquired in late March 2025. 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. TCBW operated two branches in Washington and one branch in Oregon. During the first nine months of 2025, 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 where we operate. Each of our operating segments offers a wide range of banking products and related services, delivered digitally or through other channels. These include primarily commercial and small business banking, capital markets and investment banking, commercial real estate lending, retail banking, and wealth management.
Our affiliate banks are supported by an enterprise operating segment, referred to as the “Other” segment, which provides governance and risk management, allocates capital, establishes strategic objectives, and includes centralized technology, back-office functions, and certain lines of business not operated through our affiliate banks. The costs of 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 use an internal funds transfer pricing (“FTP”) allocation process to report the results of operations for each segment. This process is subject to ongoing changes and refinements. The total average loans and deposits for the operating segments include minor intercompany amounts and may also include deposits with the “Other” segment. Transactions between segments are primarily conducted at fair value, with profits eliminated for consolidated reporting purposes.
We evaluate performance and allocate resources primarily based on income or loss from operations before income taxes. The accounting policies of the operating segments align with those 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 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 allocate resources 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 September 30, 2025 and 2024:
Zions BankCB&TAmegy
(In millions)202520242025202420252024
SELECTED INCOME STATEMENT DATA
Net interest income 1
$191 $174 $168 $155 $143 $128 
Provision for credit losses2 11 55 — 2 4 
Net interest income after provision for credit losses189 163 113 155 141 124 
Noninterest income49 46 31 31 49 44 
Noninterest expense:
Salaries and employee benefits35 34 34 31 28 27 
Technology, telecom, and information processing3 4 1 1 2 2 
Occupancy and equipment, net7 6 9 8 8 8 
Other direct expenses 2
12 16 10 9 12 12 
Indirect/allocated expenses83 80 56 50 66 62 
Total noninterest expense140 140 110 99 116 111 
Income (loss) before taxes$98 $69 $34 $87 $74 $57 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$15,230 $14,762 $15,255 $14,315 $14,317 $13,531 
Total average deposits21,108 21,386 15,656 14,643 14,559 14,633 
NBAZNSBVectra
(In millions)202520242025202420252024
SELECTED INCOME STATEMENT DATA
Net interest income 1
$66 $63 $54 $52 $35 $38 
Provision for credit losses(3)7 (6)(14)(6)2 
Net interest income after provision for credit losses69 56 60 66 41 36 
Noninterest income12 11 13 12 9 7 
Noninterest expense:
Salaries and employee benefits13 13 11 11 10 10 
Technology, telecom, and information processing1 1 2 1 1 1 
Occupancy and equipment, net3 3 3 3 3 3 
Other direct expenses 2
6 7 5 6 4 3 
Indirect/allocated expenses26 25 24 23 16 17 
Total noninterest expense49 49 45 44 34 34 
Income (loss) before taxes$32 $18 $28 $34 $16 $9 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$5,545 $5,647 $3,736 $3,520 $3,825 $4,106 
Total average deposits6,863 6,904 7,038 7,156 3,396 3,531 
TCBWOtherConsolidated Bank
(In millions)202520242025202420252024
SELECTED INCOME STATEMENT DATA
Net interest income 1
$18 $16 $(3)$(6)$672 $620 
Provision for credit losses4 3 1 — 49 13 
Net interest income after provision for credit losses14 13 (4)(6)623 607 
Noninterest income2 2 24 19 189 172 
Noninterest expense:
Salaries and employee benefits3 3 203 188 337 317 
Technology, telecom, and information processing1 — 59 56 70 66 
Occupancy and equipment, net1 1 8 8 42 40 
Other direct expenses 2
1 1 28 25 78 79 
Indirect/allocated expenses4 3 (275)(260)— — 
Total noninterest expense10 8 23 17 527 502 
Income (loss) before taxes$6 $7 $(3)$(4)$285 $277 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$2,012 $1,833 $866 $951 $60,786 $58,665 
Total average deposits1,139 1,148 4,544 5,628 74,303 75,029 
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 Includes expenses such as professional and legal services, marketing and business development, deposit insurance and regulatory expense, credit-related expense, other real estate expense, and other noninterest expense.
The following schedule presents selected operating segment information that is regularly provided to the CODM to evaluate performance and allocate resources for the nine months ended September 30, 2025 and 2024:
Zions BankCB&TAmegy
(In millions)202520242025202420252024
SELECTED INCOME STATEMENT DATA
Net interest income 1
$549 $506 $481 $448 $412 $355 
Provision for credit losses15 (7)47 17 15 22 
Net interest income after provision for credit losses
534 513 434 431 397 333 
Noninterest income141 136 91 87 140 128 
Noninterest expense:
Salaries and employee benefits105 105 101 95 87 82 
Technology, telecom, and information processing11 11 4 4 6 6 
Occupancy and equipment, net20 20 25 24 25 24 
Other direct expenses 2
46 55 31 32 37 42 
Indirect/allocated expenses244 245 162 149 193 186 
Total noninterest expense426 436 323 304 348 340 
Income (loss) before taxes
$249 $213 $202 $214 $189 $121 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$15,026 $14,792 $15,037 $14,203 $14,144 $13,331 
Total average deposits21,048 21,010 15,166 14,530 14,647 14,705 
NBAZNSBVectra
(In millions)202520242025202420252024
SELECTED INCOME STATEMENT DATA
Net interest income 1
$194 $185 $160 $150 $106 $109 
Provision for credit losses(15)11 (2)(12)3 (4)
Net interest income after provision for credit losses
209 174 162 162 103 113 
Noninterest income31 31 38 40 28 20 
Noninterest expense:
Salaries and employee benefits40 40 34 35 30 30 
Technology, telecom, and information processing3 3 4 4 2 2 
Occupancy and equipment, net8 8 8 8 9 9 
Other direct expenses 2
20 21 14 16 10 11 
Indirect/allocated expenses77 76 71 70 51 52 
Total noninterest expense148 148 131 133 102 104 
Income (loss) before taxes
$92 $57 $69 $69 $29 $29 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$5,606 $5,631 $3,711 $3,525 $3,872 $4,078 
Total average deposits6,891 6,897 7,112 7,187 3,400 3,486 
TCBWOtherConsolidated Bank
(In millions)202520242025202420252024
SELECTED INCOME STATEMENT DATA
Net interest income 1
$52 $45 $(10)$5 $1,944 $1,803 
Provision for credit losses2 6 1 (2)66 31 
Net interest income after provision for credit losses
50 39 (11)7 1,878 1,772 
Noninterest income6 6 75 59 550 507 
Noninterest expense:
Salaries and employee benefits10 9 608 570 1,015 966 
Technology, telecom, and information processing1 1 174 163 205 194 
Occupancy and equipment, net2 2 26 24 123 119 
Other direct expenses 2
4 4 87 77 249 258 
Indirect/allocated expenses11 8 (809)(786)— — 
Total noninterest expense28 24 86 48 1,592 1,537 
Income (loss) before taxes
$28 $21 $(22)$18 $836 $742 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$1,999 $1,772 $903 $957 $60,298 $58,289 
Total average deposits1,140 1,126 5,090 5,267 74,494 74,208 
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 Includes expenses such as professional and legal services, marketing and business development, deposit insurance and regulatory expense, credit-related expense, other real estate expense, and other noninterest expense.