ZIONS BANCORPORATION COMPLETES ACQUISITION OF FANNIE MAE AND FREDDIE MAC MULTIFAMILY BUSINESS LINE FROM BASIS INVESTMENT GROUP

SALT LAKE CITY, Aug. 3, 2026 /PRNewswire/ -- Zions Bancorporation, National Association (NASDAQ: ZION) today announced it has completed its previously announced acquisition of the agency lending platform of Basis Multifamily Finance I, LLC, a subsidiary of Basis Investment Group, LLC, (collectively, "Basis"), a national commercial real estate debt and equity investment platform. The acquisition includes the agency lending platform's experienced team, capabilities, and all associated mortgage servicing rights.

The acquisition expands Zions' product suite through participation in the Fannie Mae DUS® program and Freddie Mac's Optigo® Conventional program, expanding the bank's ability to meet the financing needs of multifamily owners, operators, and developers nationwide.

"This acquisition bolsters our ability to serve our customers across the multifamily housing sector and is a natural extension of our commitment to supporting the development and preservation of the full spectrum of multifamily products, including workforce and affordable housing," said Harris Simmons, Chairman and Chief Executive Officer of Zions Bancorporation. "We look forward to working closely with Fannie Mae and Freddie Mac and are pleased to welcome Basis' agency lending team to Zions as we continue to grow our multifamily business and meet the evolving needs of our customers."

"I am excited to see the Basis Multifamily team begin their next chapter with Zions. Our strategic partnership with Zions brings together the strengths of both organizations, expanding investment and financing opportunities in affordable and workforce housing across our fund platforms while creating long-term value for our clients, investors, and communities.  I wish Zions and the agency team every success as they scale the platform and take it to the next level," said Tammy K. Jones, Founder and Chief Executive Officer of Basis.

Advisors
Zions Capital Markets served as financial advisor to Zions, with Allen Overy Shearman Sterling US LLP as legal advisor. Beekman Advisors served as financial advisor to Basis, with Davis Polk & Wardwell LLP as legal advisor.

About Zions Bancorporation
Zions Bancorporation, N.A. is one of the nation's premier financial services companies with approximately $89 billion of total assets at December 31, 2025, and annual net revenue of $3.4 billion in 2025. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small- and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending. In addition, Zions is included in the S&P MidCap 400 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at www.zionsbancorporation.com.

Zions Capital Markets conducts the capital markets and investment banking activities of Zions Bancorporation. For more information and important disclosures please visit www.zionscapitalmarkets.com.

About Basis Investment Group
Basis Investment Group is a diversified commercial real estate investment management platform with more than $9.2 billion in debt and equity transactions closed across 47 states. Basis is a Registered Investment Advisor (RIA), direct lender, and investor, providing financing and investment solutions across all middle-market commercial real estate sectors, including affordable and workforce housing, throughout the United States.

For more information, please visit www.basisinvgroup.com.

Forward-Looking Statements
This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, which reflect Zions' current views with respect to future events and financial performance. The words "future," "anticipates," "assumes," "intends," "plans," "seeks," "believes," "predicts," "potential," "objective," "estimates," "expects," "targets," "projects," "outlook," "forecast," "would," "will," "may," "might," "could," "should," "can," and similar expressions often signify forward-looking statements. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. Forward-looking statements are based on management's expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, uncertainties, and other factors that may cause actual results to differ materially from the views, beliefs, and projections expressed in such statements. If underlying assumptions prove to be inaccurate or unknown risks or uncertainties arise, actual results could vary materially from these projections or expectations. Factors that could cause Zions' actual results to differ from those described in the forward-looking statements herein include:; expected synergies, cost savings, and other financial or other benefits of the Basis acquisition might not be realized within the expected timeframes or might be less than projected; difficulties in integrating the acquired business; and risks identified in Zions Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent filings with the Securities and Exchange Commission. However, these risks and uncertainties are not exhaustive. Other sections of such filings describe additional factors that could impact Zions' business, financial performance, and pending or consummated acquisition transactions, including the Basis transaction. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. We assume no obligation to update or revise any forward-looking statements that are made from time to time.

SOURCE Zions Bancorporation