ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ZION
ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ Revenue Disclosure
REVENUE FROM CONTRACTS WITH CUSTOMERS
Revenue from contracts with customers, including noninterest income within the scope of the applicable accounting guidance, is recognized when control of the promised goods or services is transferred to the customer. Revenue is measured at an amount that reflects the consideration we expect to be entitled in exchange for those goods or services. Incremental costs of obtaining a contract are expensed as incurred when the related amortization period is one year or less.
For performance obligations satisfied over time, when we have a right to consideration from a customer that directly corresponds with the value of services provided to date, revenue is generally recognized based on the amount we are entitled to invoice. We typically do not disclose information regarding remaining performance obligations when such obligations have an original expected duration of one year or less, or when revenue is recognized based on the invoiced amount.
The following describes our revenue from contracts with customers:
Commercial Account Fees
Commercial account fee income primarily includes account analysis fees, merchant services fees, and payroll services income. Revenue is recognized as services are performed or upon their completion.
Card Fees
Card fee income primarily includes interchange fees from credit and debit card transactions, net fees from merchant card processing, and automated teller machine (“ATM”) service fees. Revenue from card fees is recognized as earned.
Retail and Business Banking Fees
Retail and business banking fees relate to deposit account services provided to customers. These fees primarily include insufficient funds fees, noncustomer ATM charges, and various other deposit account-related fees. Service charges on deposit accounts include fees earned in lieu of compensating balances, as well as fees for cash management and other deposit-related services. Service charge revenue is recognized over the period in which the related services are provided. Treasury management fees are billed monthly based on services rendered during the month.
Capital Markets Fees and Income
Capital markets fees and income primarily include fees from municipal advisory services, securities underwriting, and investment banking advisory services. Revenue is recognized either as the related services are provided or upon completion of the engagement. Income related to loan syndications, loan sales, and derivative instruments (including client interest rate swaps and foreign currency transactions) is accounted for under separate accounting guidance. For more information on loan and derivative income recognition, see Notes 6 and 7, respectively.
Wealth Management Fees
Wealth management fees primarily consist of commissions and other portfolio and advisory service fees. Revenue is recognized as services are rendered or upon completion. Financial planning, fiduciary, and estate services may involve performance obligations extending beyond 12 months; however, the amount of related future obligations is not significant.
Other Customer-related Fees
Other customer-related fees generally include income sources such as compliance and support services to pharmacies and healthcare providers, corporate trust fees, advisory and referral fees, and fees for claims and inventory management services provided to certain customers. Revenue is recognized as services are performed or upon completion.
Disaggregation of Revenue
The following schedule presents revenue from contracts with customers disaggregated by operating segment and reconciles those amounts to total noninterest income. Customer-related noninterest income from other sources represents revenue earned from customers that falls outside the scope of the applicable accounting guidance for revenue from contracts with customers.
| Zions Bank | CB&T | Amegy | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (In millions) | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial account fees | $ | 60 | $ | 57 | $ | 55 | $ | 32 | $ | 31 | $ | 32 | $ | 61 | $ | 59 | $ | 56 | |||||||||||||||||||||||||||||||||||
Card fees 1 | 49 | 50 | 52 | 18 | 19 | 21 | 29 | 31 | 31 | ||||||||||||||||||||||||||||||||||||||||||||
Retail and business banking fees | 21 | 19 | 19 | 13 | 11 | 11 | 16 | 14 | 14 | ||||||||||||||||||||||||||||||||||||||||||||
Capital markets fees and income 2 | 1 | 1 | — | 2 | 1 | — | 9 | 3 | — | ||||||||||||||||||||||||||||||||||||||||||||
| Wealth management fees | 16 | 21 | 23 | 6 | 4 | 4 | 18 | 18 | 17 | ||||||||||||||||||||||||||||||||||||||||||||
| Other customer-related fees | 8 | 9 | 8 | 10 | 8 | 7 | 5 | 6 | 7 | ||||||||||||||||||||||||||||||||||||||||||||
Total noninterest income from contracts with customers | 155 | 157 | 157 | 81 | 74 | 75 | 138 | 131 | 125 | ||||||||||||||||||||||||||||||||||||||||||||
Customer-related noninterest income from other sources | 33 | 24 | 24 | 38 | 39 | 35 | 39 | 34 | 37 | ||||||||||||||||||||||||||||||||||||||||||||
Total customer-related noninterest income | 188 | 181 | 181 | 119 | 113 | 110 | 177 | 165 | 162 | ||||||||||||||||||||||||||||||||||||||||||||
Noncustomer-related noninterest income | 2 | 6 | 11 | 7 | 8 | 6 | 12 | 10 | 22 | ||||||||||||||||||||||||||||||||||||||||||||
Total noninterest income | $ | 190 | $ | 187 | $ | 192 | $ | 126 | $ | 121 | $ | 116 | $ | 189 | $ | 175 | $ | 184 | |||||||||||||||||||||||||||||||||||
| NBAZ | NSB | Vectra | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (In millions) | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial account fees | $ | 10 | $ | 11 | $ | 10 | $ | 12 | $ | 13 | $ | 12 | $ | 7 | $ | 7 | $ | 7 | |||||||||||||||||||||||||||||||||||
Card fees 1 | 16 | 15 | 15 | 16 | 16 | 16 | 9 | 10 | 9 | ||||||||||||||||||||||||||||||||||||||||||||
Retail and business banking fees | 9 | 9 | 8 | 11 | 10 | 10 | 4 | 3 | 4 | ||||||||||||||||||||||||||||||||||||||||||||
Capital markets fees and income 2 | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
| Wealth management fees | 4 | 3 | 3 | 7 | 6 | 5 | 2 | 2 | 1 | ||||||||||||||||||||||||||||||||||||||||||||
| Other customer-related fees | 1 | 1 | 1 | — | 1 | 1 | 6 | 5 | 4 | ||||||||||||||||||||||||||||||||||||||||||||
Total noninterest income from contracts with customers | 40 | 39 | 37 | 46 | 46 | 44 | 28 | 27 | 25 | ||||||||||||||||||||||||||||||||||||||||||||
Customer-related noninterest income from other sources | 5 | 4 | 2 | 5 | 2 | 1 | 5 | 2 | 3 | ||||||||||||||||||||||||||||||||||||||||||||
Total customer-related noninterest income | 45 | 43 | 39 | 51 | 48 | 45 | 33 | 29 | 28 | ||||||||||||||||||||||||||||||||||||||||||||
Noncustomer-related noninterest income | (1) | — | 1 | 1 | 4 | — | 3 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Total noninterest income | $ | 44 | $ | 43 | $ | 40 | $ | 52 | $ | 52 | $ | 45 | $ | 36 | $ | 29 | $ | 28 | |||||||||||||||||||||||||||||||||||
| TCBW | Other | Consolidated Bank | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (In millions) | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial account fees | $ | 2 | $ | 2 | $ | 2 | $ | 1 | $ | 2 | $ | — | $ | 185 | $ | 182 | $ | 174 | |||||||||||||||||||||||||||||||||||
Card fees 1 | 2 | 2 | 2 | — | 1 | — | 139 | 144 | 146 | ||||||||||||||||||||||||||||||||||||||||||||
Retail and business banking fees | — | 1 | — | — | — | — | 74 | 67 | 66 | ||||||||||||||||||||||||||||||||||||||||||||
Capital markets fees and income 2 | — | — | — | 7 | 6 | 4 | 19 | 11 | 4 | ||||||||||||||||||||||||||||||||||||||||||||
| Wealth management fees | — | — | 1 | 1 | — | (1) | 54 | 54 | 53 | ||||||||||||||||||||||||||||||||||||||||||||
| Other customer-related fees | 2 | 1 | 1 | 26 | 24 | 31 | 58 | 55 | 60 | ||||||||||||||||||||||||||||||||||||||||||||
Total noninterest income from contracts with customers | 6 | 6 | 6 | 35 | 33 | 34 | 529 | 513 | 503 | ||||||||||||||||||||||||||||||||||||||||||||
Customer-related noninterest income from other sources | 2 | 2 | 1 | 6 | 19 | 14 | 133 | 126 | 113 | ||||||||||||||||||||||||||||||||||||||||||||
Total customer-related noninterest income | 8 | 8 | 7 | 41 | 52 | 48 | 662 | 639 | 616 | ||||||||||||||||||||||||||||||||||||||||||||
Noncustomer-related noninterest income | — | — | — | 72 | 33 | 17 | 96 | 61 | 61 | ||||||||||||||||||||||||||||||||||||||||||||
Total noninterest income | $ | 8 | $ | 8 | $ | 7 | $ | 113 | $ | 85 | $ | 65 | $ | 758 | $ | 700 | $ | 677 | |||||||||||||||||||||||||||||||||||
1 Card fees exclude costs associated with reward programs that are netted against interchange fees, as these costs fall outside the scope of the applicable accounting guidance for revenue from contracts with customers.
2 Capital markets fees and income exclude revenue related to real estate capital markets, swaps, loan syndications, foreign exchange activities, and the net CVA, as these items are not within the scope of applicable accounting guidance for revenue from contracts with customers.
Revenue from contracts with customers did not result in significant contract assets or contract liabilities. Contract receivables are included in “Other assets” on the consolidated balance sheet. Although payment terms vary based on the nature of the services provided, the interval between satisfying performance obligations and receiving payment is generally short and not considered significant.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 25, 2021 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.