About Zions Bancorporation, National Association

Zions Bancorporation, National Association and its subsidiaries provide a wide range of banking products and related services, primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company had more than one million customers as of December 31, 2023, served by various branches and various online, mobile, and digital offerings. The company conducts its operations primarily through seven separately managed and geographically defined bank divisions, which the company refers to as ‘affiliates,’ or ‘affiliate banks,’ each with its own local branding and management team. These affiliate banks comprise the company’s primary business segments as referred to throughout this document. The company’s affiliate banks are supported by an enterprise operating segment (referred to as the ‘Other’ segment) that 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 the company’s affiliate banks. Segments The company manages its operations with a primary focus on geographic area. The company conducts its operations primarily through seven separately managed affiliate banks, each with its own local branding and management team, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington. These affiliate banks comprise the company’s primary business segments. Zions Bank Zions Bank is headquartered in Salt Lake City, Utah, and conducts operations in Utah, Idaho, and Wyoming. Zions Bank is the largest full-service commercial bank in Utah and Idaho. California Bank & Trust California Bank & Trust is headquartered in San Diego, California. CB&T is the largest full-service commercial bank in California. Amegy Bank Amegy Bank is headquartered in Houston, Texas. Amegy is the largest full-service commercial bank in Texas. National Bank of Arizona National Bank of Arizona is headquartered in Phoenix, Arizona. NBAZ is the largest full-service commercial bank in Arizona. Nevada State Bank Nevada State Bank is headquartered in Las Vegas, Nevada. NSB is the largest full-service commercial bank in Nevada. In July 2022, NSB purchased three Northern Nevada City National Bank branches and their associated deposit, credit card, and loan accounts. In addition to the three branches, the purchase included approximately $430 million in deposits and $95 million in commercial and consumer loans. Vectra Bank Colorado Vectra Bank Colorado is headquartered in Denver, Colorado. Vectra is the largest full-service commercial bank in Colorado. The Commerce Bank of Washington The Commerce Bank of Washington is headquartered in Seattle, Washington, and operates in Washington under The Commerce Bank of Washington name and in Portland, Oregon, under The Commerce Bank of Oregon name. The FDIC deposit market share data at June 30, 2023 for TCBW in Washington and Oregon was not meaningful. Products and Services The company focuses on serving customers in the communities in which the company operates. Some of the products and services the company provides, whether delivered digitally or by other means, include: Commercial and Small Business Banking The company serves a wide range of commercial customers, generally small- and medium-sized businesses. Products and services the company provides to its commercial and small business banking customers include commercial and industrial and owner-occupied lending and leasing; municipal and public finance services; depository account and cash management services; commercial and small business cards, as well as merchant processing services; corporate trust services; and correspondent banking and international lending services. Capital Markets and Investment Banking The company provides customized financing solutions to help the company’s customers raise capital efficiently, execute strategic transactions, and manage exposure to financial markets. Capital markets products and services include: loan syndications; foreign exchange services and interest rate derivatives; fixed income securities underwriting; advisory and capital raising; commercial mortgage-backed security (‘CMBS’) conduit lending; and power and project financing. Commercial Real Estate Lending The company provides lending products secured by commercial real estate to borrowers that include term and construction/land development financing, including the following collateral types: commercial multi-family, industrial, and office; and residential single-family, community development, and affordable housing. Retail Banking The company provides quality retail banking products and services to the company’s customers that include: residential mortgages; home equity lines of credit; personal lines of credit and installment consumer loans; depository account services; consumer cards; and personal trust services. Wealth Management The company offers various wealth management products and services to customers. The company’s planning-driven offerings, combined with high-touch service and sophisticated asset management capabilities, have resulted in continued growth in assets under management. Additional offerings to the company’s wealth management customers include: investment management services; fiduciary and estate services; and advanced business succession and estate planning services. Investment Securities As of December 31, 2023, the company’s investment securities included the U.S. treasury securities; the U.S. government agencies and corporations, such as agency securities, agency guaranteed mortgage-backed securities, and small business administration loan-backed securities; municipal securities; and other securities. Loan and Lease Portfolio As of December 31, 2023, the company’s loan and lease portfolio included commercial loans, such as commercial and industrial, leasing, owner occupied, and municipal loans; commercial real estate loans, such as construction and land development, and term loans; and consumer loans, such as home equity credit line, 1-4 family residential loans, construction and other consumer real estate loans, bankcard and other revolving plans, and other loans. Supervision and Regulation The company is subject to the provisions of the National Bank Act and other statutes governing national banks, as well as the rules and regulations of the Office of the Comptroller of the Currency (‘OCC’), the Consumer Financial Protection Bureau (‘CFPB’), and the Federal Deposit Insurance Corporation (‘FDIC’). The company, as well as some of its subsidiaries, is also subject to regulation by other federal and state agencies. The company’s brokerage and investment advisory subsidiaries are regulated by the Securities and Exchange Commission (‘SEC’), Financial Industry Regulatory Authority (‘FINRA’), and state securities regulators. The company’s corporate affairs are governed by the National Bank Act, and related regulations are administered by the OCC. The company’s common stock and certain other securities are registered under the Securities and Exchange Act of 1934 (‘Exchange Act’), which vests the OCC with the power to administer and enforce certain sections of the Exchange Act applicable to national banks, though the company continue to make filings required by the Exchange Act with the SEC as a voluntary filer. The company is also subject to the Sarbanes-Oxley Act of 2002, certain provisions of the Dodd-Frank Act, and other federal and state laws and regulations which address, among other matters, corporate governance, auditing and accounting, internal controls over financial reporting, and enhanced and timely disclosure of corporate information. History The company was founded in 1873. It was formerly known as ZB, National Association and changed its name to Zions Bancorporation, National Association in 2018.