In its earnings call on Oct. 19, 2026, Zions (ZION) reported net earnings of $262 million, supported by customer deposit growth and low credit losses. It bought a multifamily agency platform from Basis Investment Group, gaining direct access to government-backed housing programs and becoming one of only 4 US banks that combine direct access to both Fannie Mae and Freddie Mac programs with originations for third-party CMBS conduits. Management, whose balance sheet is asset-sensitive, expects three anticipated Federal Reserve rate hikes to lift net interest income by about 8% to 12%. Total customer deposits grew at an 8.8% annualized rate, giving Zions the liquidity to repay short-term Federal Home Loan Bank borrowings and reduce high-cost brokered certificates of deposit. Management also expects broad-based growth in fee businesses, led by capital markets.
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