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OPERATING SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
OPERATING SEGMENT INFORMATION OPERATING SEGMENT INFORMATION
We manage our operations with a primary focus on geographic area. We conduct our operations primarily through seven separately managed affiliate banks, each with its own local branding and management team, including 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 business segments. Performance assessment and resource allocation are based upon this geographic structure. Our 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 our affiliate banks.
We allocate the cost of centrally provided services to the business segments based upon estimated or actual usage of those services. We also allocate capital based on the risk-weighted assets held at each business segment. We use an internal funds transfer pricing (“FTP”) allocation process to report results of operations for business segments. This process is subject to change and refinement over time. Total average loans and deposits presented for the business segments include insignificant intercompany amounts between business segments and may also include deposits with the “Other” segment.
At September 30, 2024, Zions Bank operated 95 branches in Utah, 25 branches in Idaho, and one branch in Wyoming. CB&T operated 75 branches in California. Amegy operated 76 branches in Texas. NBAZ operated 56 branches in Arizona. NSB operated 43 branches in Nevada. Vectra operated 34 branches in Colorado and one branch in New Mexico. TCBW operated two branches in Washington and one branch in Oregon.
On September 23, 2024, we announced that we have entered into an agreement to purchase four FirstBank Coachella Valley, California branches and their associated deposit and loan accounts. These branches will be operated by our CB&T affiliate bank. In addition to the four branches, the purchase includes approximately $700 million in deposits and $400 million in commercial and consumer loans. These amounts are subject to change. The transaction is expected to be completed in the first quarter of 2025, subject to customary closing conditions and regulatory approval.
Transactions between business segments are primarily conducted at fair value, resulting in profits that are eliminated for reporting consolidated results of operations. The following schedule presents average loans, average deposits, and income before income taxes because we use these metrics when evaluating performance and making decisions pertaining to the business segments. The condensed statement of income identifies the components of income and expense which affect the operating amounts presented in the “Other” segment.
The following schedule presents selected operating segment information for the three months ended September 30, 2024 and 2023:
Zions BankCB&TAmegy
(In millions)202420232024202320242023
SELECTED INCOME STATEMENT DATA
Net interest income$178 $167 $150 $143 $130 $107 
Provision for credit losses11 1 — 24 4 7 
Net interest income after provision for credit losses
167 166 150 119 126 100 
Noninterest income46 49 31 28 44 46 
Noninterest expense140 130 100 91 111 93 
Income (loss) before income taxes
$73 $85 $81 $56 $59 $53 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$14,762 $14,382 $14,315 $14,195 $13,531 $12,892 
Total average deposits21,386 20,041 14,643 14,335 14,633 13,997 
NBAZNSBVectra
(In millions)202420232024202320242023
SELECTED INCOME STATEMENT DATA
Net interest income$62 $66 $51 $46 $38 $36 
Provision for credit losses7 3 (14)7 2 (1)
Net interest income after provision for credit losses
55 63 65 39 36 37 
Noninterest income11 10 12 12 7 8 
Noninterest expense49 44 44 40 34 32 
Income (loss) before income taxes
$17 $29 $33 $11 $9 $13 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$5,647 $5,364 $3,520 $3,420 $4,106 $4,011 
Total average deposits6,904 7,002 7,156 7,059 3,531 3,463 
TCBWOtherConsolidated Bank
(In millions)202420232024202320242023
SELECTED INCOME STATEMENT DATA
Net interest income$16 $15 $(5)$5 $620 $585 
Provision for credit losses2 2 1 (2)13 41 
Net interest income after provision for credit losses
14 13 (6)7 607 544 
Noninterest income2 2 19 25 172 180 
Noninterest expense8 6 16 60 502 496 
Income (loss) before income taxes
$8 $9 $(3)$(28)$277 $228 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$1,833 $1,697 $951 $1,007 $58,665 $56,968 
Total average deposits1,148 1,138 5,628 8,608 75,029 75,643 
The following schedule presents selected operating segment information for the nine months ended September 30, 2024 and 2023:
Zions BankCB&TAmegy
(In millions)202420232024202320242023
SELECTED INCOME STATEMENT DATA
Net interest income$514 $530 $434 $454 $362 $346 
Provision for credit losses(7)32 17 39 22 30 
Net interest income after provision for credit losses
521 498 417 415 340 316 
Noninterest income136 148 87 87 128 143 
Noninterest expense432 403 304 277 340 291 
Income (loss) before income taxes
$225 $243 $200 $225 $128 $168 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$14,792 $14,205 $14,203 $14,122 $13,331 $12,872 
Total average deposits21,010 20,058 14,530 14,103 14,705 13,055 
NBAZNSBVectra
(In millions)202420232024202320242023
SELECTED INCOME STATEMENT DATA
Net interest income$181 $194 $147 $145 $111 $115 
Provision for credit losses11 7 (12)18 (3)5 
Net interest income after provision for credit losses
170 187 159 127 114 110 
Noninterest income31 31 40 34 20 21 
Noninterest expense147 136 133 123 104 99 
Income (loss) before income taxes
$54 $82 $66 $38 $30 $32 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$5,631 $5,253 $3,525 $3,392 $4,078 $3,997 
Total average deposits6,897 7,018 7,187 6,887 3,486 3,479 
TCBWOtherConsolidated Bank
(In millions)202420232024202320242023
SELECTED INCOME STATEMENT DATA
Net interest income$46 $46 $8 $25 $1,803 $1,855 
Provision for credit losses6 4 (3)(3)31 132 
Net interest income after provision for credit losses
40 42 11 28 1,772 1,723 
Noninterest income6 5 59 60 507 529 
Noninterest expense24 18 53 169 1,537 1,516 
Income (loss) before income taxes
$22 $29 $17 $(81)$742 $736 
SELECTED AVERAGE BALANCE SHEET DATA
Total average loans$1,772 $1,699 $957 $1,063 $58,289 $56,603 
Total average deposits1,126 1,206 5,267 6,030 74,208 71,836