Zions Bancorporation posts 20% earnings rise and completes Basis Multifamily acquisition
Zions Bancorporation reported third‑quarter 2026 net earnings of $262 million, or $1.78 per diluted share, a 20% increase year‑over‑year. The bank highlighted strong deposit growth of about 8.8% annualized and a completed acquisition of Basis Multifamily Finance I, LLC. Management also lowered full‑year operating‑leverage guidance to 40‑50 basis points and trimmed loan‑growth outlook for Q3 2027 to 2‑4%.
Why it matters
The earnings beat and deposit expansion support Zions' earnings outlook, while the reduced operating‑leverage guidance signals lower near‑term profitability. The Basis acquisition adds a new revenue stream, with the company expecting $17‑20 million of revenue in 2027.
Key facts
- 1Net earnings applicable to common shareholders were $262 million for Q3 2026. prnewswire.com
- 2Diluted earnings per share were $1.78, up 20% from $1.48 a year earlier. prnewswire.com
- 3Average customer deposits grew 8.8% annualized from the prior quarter, reaching $74.0 billion. investing.com
- 4Net loan charge‑offs were $3 million, down from $56 million a year ago. prnewswire.com
- 5The acquisition of Basis Multifamily Finance I, LLC was completed at the end of July 2026. prnewswire.com
- 6Revenue for the quarter was $881 million. seekingalpha.com
Open questions
- Revenue figures differ across sources.
Summary written by AlphAI AI Desk from 10 of 10 sources. Not investment advice. Figures are as stated by the linked sources.