Mission Statement, Vision, & Core Values (2024) of Zions Bancorporation, National Association (ZION).

An Overview of Zions Bancorporation, National Association (ZION)

General Summary of Zions Bancorporation

Zions Bancorporation, National Association (ZION) has a rich history that dates back to its founding in 1873. The company operates as a bank holding company, providing a wide range of financial services including commercial banking, retail banking, and wealth management. Zions Bancorporation primarily serves customers in the Western United States through its various banking subsidiaries, which include Zions Bank, California Bank & Trust, and Amegy Bank, among others.

As of 2024, Zions Bancorporation reported total assets of approximately $87.6 billion and total deposits of $73.8 billion. The bank's loan portfolio as of June 30, 2024, stood at $58.4 billion, reflecting a diverse range of lending products tailored for both commercial and consumer customers.

Company's Financial Performance in Latest Financial Reports

In the second quarter of 2024, Zions Bancorporation reported a diluted earnings per share (EPS) of $1.28, compared to $1.11 in the same quarter of 2023, marking a significant year-over-year increase. The company achieved net interest income of $597 million, an increase of 1% from the previous year, while total noninterest income was $90 million, reflecting a slight decrease from the prior year.

The net interest margin (NIM) improved to 2.98%, up from 2.92% in the previous year, indicating effective management of interest-earning assets and liabilities. Total loans and leases increased by $1.5 billion, or 3%, primarily driven by growth in the consumer 1-4 family residential mortgage and term commercial real estate loan portfolios.

Introduction to Company as a Leader in the Industry

Zions Bancorporation is recognized as a leading financial institution in the Western United States, known for its robust customer service and diverse range of financial products. With a focus on community banking and a commitment to innovation, Zions Bancorporation has positioned itself as a reliable partner for both businesses and consumers. The bank's strategic initiatives in technology modernization and risk management have further strengthened its competitive edge in the banking sector.

As of mid-2024, Zions Bancorporation continues to demonstrate resilience and growth, making it a noteworthy player for investors and stakeholders interested in the banking industry.

Mission Statement of Zions Bancorporation, National Association (ZION)

Mission Statement Overview

The mission statement of Zions Bancorporation, National Association (ZION) is a crucial element that outlines the company's purpose and serves as a guiding principle for its operations and strategic objectives. It emphasizes commitments to customer service, financial performance, community support, and adherence to ethical practices.

Core Component 1: Customer Focus

Zions Bancorporation places a strong emphasis on customer satisfaction and relationship building. The bank aims to provide personalized banking solutions that cater to the needs of its diverse clientele. As of June 30, 2024, customer deposits (excluding brokered deposits) increased by $3.6 billion, or 5%, reaching a total of $69.5 billion compared to $65.9 billion in the previous year.

Core Component 2: Community Commitment

The company is dedicated to enhancing the well-being of the communities it serves. Zions Bancorporation engages in various philanthropic initiatives and supports local businesses. The bank reported a provision for credit losses of only $5 million in Q2 2024, compared to $46 million in the prior year, indicating a strong financial position that enables it to contribute positively to the community.

Core Component 3: Ethical Standards and Integrity

Zions Bancorporation maintains a strong commitment to ethical practices and compliance with regulatory standards. Its operations reflect transparency and accountability, ensuring trust among stakeholders. The total assets of the bank were $87.6 billion as of June 30, 2024, demonstrating robust financial health and the capacity to uphold its ethical commitments.

This data underscores Zions Bancorporation's commitment to its mission statement by showcasing its focus on customer service, community involvement, and ethical standards. The metrics demonstrate the bank's strong operational performance and its ability to meet the expectations set forth in its mission statement.

Vision Statement of Zions Bancorporation, National Association (ZION)

Vision Statement of Zions Bancorporation, National Association (ZION)

The vision statement of Zions Bancorporation as of 2024 emphasizes its commitment to being a leading financial institution that prioritizes customer service, innovation, and community engagement. The components of this vision are explored below.

Zions Bancorporation aims to enhance its customer experience by leveraging technology and personalized services. The bank reported a 5% increase in customer deposits, totaling $69.5 billion as of June 30, 2024, compared to $65.9 billion in the previous year. This growth reflects the bank's focus on understanding and meeting customer needs effectively.

In 2024, Zions Bancorporation invested significantly in upgrading its technology infrastructure. The successful completion of a multi-year project to replace core banking systems was finalized in July 2024, enhancing operational efficiencies and improving customer interactions. This modernization is expected to facilitate better service delivery and access to financial products.

Zions Bancorporation is committed to supporting the communities it serves. The bank's initiatives include various community development programs and volunteer efforts. In 2024, the bank allocated approximately $15 million towards community development projects and partnerships, demonstrating its dedication to social responsibility.

As of June 30, 2024, Zions Bancorporation reported the following key financial metrics:

In alignment with its vision, Zions Bancorporation is increasingly focused on sustainable practices. The bank has initiated programs aimed at reducing its carbon footprint and promoting eco-friendly banking solutions. As of 2024, the bank has committed to reducing its operational emissions by 30% by 2030.

Overall, Zions Bancorporation's vision for 2024 is centered on enhancing customer satisfaction, embracing technological advancements, engaging with the community, and committing to sustainability, thereby positioning itself as a forward-thinking financial institution.

Core Values of Zions Bancorporation, National Association (ZION)

Integrity

The core value of Integrity is fundamental to Zions Bancorporation's operations, emphasizing transparency, ethics, and accountability. This value is critical in fostering trust among stakeholders, including customers, employees, and investors.

In 2024, Zions Bancorporation has implemented several initiatives to uphold this value:

• Conducting regular audits and compliance checks to ensure adherence to regulatory standards.
• Offering training programs for employees focusing on ethical decision-making and integrity in customer interactions.
• Publishing annual sustainability reports that outline the bank's commitments and performance in ethical practices.

Customer Commitment

Zions Bancorporation places a strong emphasis on Customer Commitment, reflecting its dedication to providing exceptional service and value to customers. This commitment is vital for customer retention and satisfaction.

In 2024, the bank has demonstrated this value through various actions:

• Introduction of a new digital banking platform that enhances user experience and accessibility, resulting in a 20% increase in online customer engagement compared to 2023.
• Investment of $10 million in customer service training, leading to a 15% improvement in customer satisfaction scores.
• Implementation of feedback mechanisms allowing customers to voice their opinions, which directly influenced service enhancements.

Excellence

The value of Excellence drives Zions Bancorporation to pursue high standards in its products and services. This commitment to excellence is essential for maintaining a competitive edge in the banking industry.

Examples of how Zions Bancorporation embodies this value in 2024 include:

• A sustained focus on improving operational efficiency, with an efficiency ratio reduced to 64.5% compared to 67.9% in the previous year.
• Launching innovative financial products that cater to niche markets, resulting in a 10% growth in the loan portfolio.
• Achieving a net interest margin of 2.98%, reflecting effective management of earning assets and funding costs.

Teamwork

Teamwork is a core value that emphasizes collaboration among employees to achieve common goals. Zions Bancorporation believes that a cohesive team can drive better results and enhance organizational performance.

This value is exemplified in 2024 through:

• Initiating cross-departmental projects aimed at improving service delivery, which have resulted in a 25% increase in project completion rates.
• Hosting quarterly team-building events that foster collaboration and communication among employees, leading to a more engaged workforce.
• Establishing performance metrics that reward team achievements, which have spurred greater cooperation and shared success across departments.

Community Involvement

Zions Bancorporation is deeply committed to Community Involvement, recognizing the importance of supporting local communities in which it operates. This value is essential for building strong relationships and enhancing the bank's reputation.

In 2024, the bank has taken significant steps to demonstrate its community commitment:

• Investing over $5 million in local community development projects, including affordable housing initiatives.
• Encouraging employee volunteerism, with over 30,000 hours logged in community service activities by staff members.
• Partnering with local organizations to provide financial education programs, helping over 1,000 individuals improve their financial literacy.