Zions Bancorporation, National Association (ZION) 8-K Regulation FD Disclosure

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September 13, 2010

Barclays Capital
2010 Global Financial Services Conference

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Forward-Looking Statements

This presentation contains statements that relate to the projected performance of Zions Bancorporation
and elements of or affecting such performance, including statements with respect to the beliefs, plans,
objectives, goals, guidelines, expectations, anticipations and estimates of management.These
statements constitute forward-looking information within the meaning of the Private Securities Litigation
Reform Act.Actual facts, determinations, results or achievements may differ materially from the
statements provided in this presentation since such statements involve significant known and unknown
risks and uncertainties.Factors that might cause such differences include, but are not limited to:
competitive pressures among financial institutions; economic, market and business conditions, either
nationally or locally in areas in which Zions Bancorporation conducts its operations, being less
favorable than expected; changes in the interest rate environment reducing expected interest margins;
changes in debt, equity and securities markets; adverse legislation or regulatory changes; and other
factors described in Zions Bancorporation’s most recent annual and quarterly reports.In addition, the
statements contained in this presentation are based on facts and circumstances as understood by
management of the company on the date of this presentation, which may change in the future.Zions
Bancorporation disclaims any obligation to update any statements or to publicly announce the result of
any revisions to any of the forward-looking statements included herein to reflect future events,
developments, determinations or understandings.

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Agenda

Overview of Zions

Key Performance Drivers

–Capital

–Credit Quality

–Term Commercial Real Estate

–Revenue

Outlook Summary

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A Collection of Great Banks

Asset and deposit balances as of 2Q 2010; Deposit market share as of 2009

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Multi-Bank Business Model: Competitive Strengths

§Direct customer access to local decision makers

§Cross-pollination of ideas between banks

–CEOs & division managers meet frequently to compare best practices,
opportunities, and resolve “intramural” issues

§Community bank feel - local marketing and branding

§Superior lending capacity relative to community banks

§Centralization of processing and other non-customer facing elements
of the business

§Established market-leading small business lender

–Leading SBA Lender

•Largest SBA portfolio relative to overall size of loan book

–Superior treasury management products & services (Greenwich survey)

§Local “ownership” of market opportunities and challenges

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Small Business Banking:

National Awards:

•Overall Satisfaction

•Relationship Manager Performance

•Financial Stability

•Overall Treasury Management

Regional Awards:

•Overall Satisfaction - West

•Overall Satisfaction - Treasury Management -
West

What Others Say About Us

2009 Greenwich Excellence Awards

in Small Business and Middle Market Banking

Middle Market Banking

National Awards:

•Overall Satisfaction

•Personal Banking

•Relationship Manager Performance

•Credit Policy

•Financial Stability

•Overall Treasury Management

•Accuracy of Operations

•Customer Service

•Treasury Product Capabilities

Regional Awards:

•Overall Satisfaction - West

•Overall Satisfaction - Treasury Management - West

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Core net income excludes items that are one time or non-recurring in nature.Examples include costs associated with subordinated debt
conversion, special FDIC assessments, merger expenses, etc.Incorporated in the Appendix of this presentation is the detail which supports our
Core Net Income Before Tax calculations.

Core Net Income Before Tax

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C&I

48%

Consumer

17%

CRE

32%

*Includes FDIC supported assets

Strong Focus on Business Banking - Loan & Profit Mix

Loan Portfolio as of 2Q10

§Commercial Loans: 80%

§Retail & Other Loans: 20%

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Agenda

Overview of Zions

Key Performance Drivers

–Capital

–Credit Quality

–Term Commercial Real Estate

–Revenue

Outlook Summary

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Source: SNL as of 2Q 2010

Note: Peer group includes U.S. regional banks with assets greater than $20 billion and less than $200 billion plus footprint competitors WFC and
USB

ZION Pro-Forma ratio incorporates effect of lower regulatory risk weighting on the banks trust preferred CDOs per the total return swap agreement
with Deutsche Bank AG, as executed during 3Q10

Tier 1 + Reserves as a % of Risk-Weighted Assets

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Tier 1 Common + Reserves as a % of Risk-Weighted Assets

Source: SNL as of 2Q 2010

Note: Peer group includes U.S. regional banks with assets greater than $20 billion and less than $200 billion plus footprint competitors WFC and
USB

ZION Pro-Forma ratio incorporates effect of lower regulatory risk weighting on the banks trust preferred CDOs per the total return swap agreement
with Deutsche Bank AG, as executed during 3Q10

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Agenda

Overview of Zions

Key Performance Drivers

–Capital

–Credit Quality

–Term Commercial Real Estate

–Revenue

Outlook Summary

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Credit Quality Trends

*Annualized

Zions excludes FDIC supported assets

Note: Peer group includes U.S. publicly traded regional banks with assets greater than $20 billion and less than $200 billion plus footprint competitors WFC and USB

Source: SNL

NPAs + Greater than 90 Days
Delinquent / Loans + OREO

Net Charge-offs as
a % of Loans*

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Note: Peer group includes U.S. publicly traded regional banks with assets greater than $20 billion and less than $200 billion plus footprint
competitors WFC and USB.

Source: SNL as of YTD 2Q10

Net Charge Offs - By Loan Type

Percentage of Zions
Total Loans

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Consolidated Non-Accrual Loans

*September 2010 data reflects actual data from July and August 2010 grossed up to quarterly equivalent

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Gross New Non-Accrual Loans
Total & Products Based on Outstanding Balance

*September 2010 data reflects actual data from July and August 2010 grossed up to quarterly equivalent

Excludes FDIC supported loans

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Agenda

Overview of Zions

Key Performance Drivers

–Capital

–Credit Quality

–Term Commercial Real Estate

–Revenue

Outlook Summary

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Change in CRE Loans Outstanding in $billions (4Q07 to 2Q10)

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Term CRE Maturity Stratification

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reappraisals are by policy conducted when a loan is downgraded to special mention and periodically thereafter as warranted by
market conditions

Percentage of Loans within each bucket that are Non-Accrual
2.3%	1.7%	2.0%	5.9%	21.6%	4.1%	20.3%

•Zions rarely approves loans with LTV
ratios > 80%; most loans shown in
the 80%-100%+ categories are the
result of recent appraisals.

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Macroeconomic Data - MIT’s Transaction Based Index

•Property prices have
appreciated at a CAGR of 3.1%
during the past 10 years

•Prices are now back to 2Q05
levels

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Term CRE
Updated LTV Stratification (2Q10)

The MIT Transaction Based Index is a national index that has been applied to Zions’ mostly regional CRE Portfolio

Percentage of Loans within each bucket that are Non-Accrual
2.9%	2.6%	3.6%	5.6%	6.7%	2.5%	9.6%

•By attaching each loan to the
TBI index as of the date of the
loans last appraisal we can see
an estimate of the updated LTV
ratios of the portfolio

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Agenda

Overview of Zions

Key Performance Drivers

–Capital

–Credit Quality

–Term Commercial Real Estate

–Revenue

Outlook Summary

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Net Interest Margin

Note: Core NIM of 4.14% used for Zions NIM, which excludes sub debt amortization expense and accretion of interest income on acquired loans

Peer group includes U.S. publicly traded regional banks with assets greater than $20 billion and less than $200 billion plus footprint competitors WFC and USB.Peer group not adjusted for
accretion of interest income on FDIC acquired loans

Source: SNL as of 2Q 2010

Strong NIM

Driven in part by Strong Demand
Deposits

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Core NIM Trends

•Zions expects net interest
sensitive incometo increase
between 4.2% and 7.2% if interest
rates were to rise 200 bps*

Core NIM (excludes discount accretion) has been generally stable

•1Q09 experienced a temporary dip partially due to an intentional build-up of excess liquidity during the significant
turmoil during late 2008/early 2009.

•Large senior note issuance in September 2009 had about 8 bps adverse impact on the core NIM in 4Q09.

•Disproportionately large cash balances adversely affecting NIM.Excluding the effects of cash, the core NIM
expanded by approximately 5 bps in 2Q10

*Assumes a parallel shift in the yield curve; key assumptions include a slow and a fast deposit repricingresponse (i.e. if deposit rates are slow to increase Zions expects a 7.2% increase in
interest sensitive income, and if deposits were to reprice quickly Zions expects a 4.2% increase in interest sensitive income)

Due to the extinguishment/ reissuance of subordinated debt in June 2009, Zions experiences non-cash discount accretion, which increases interest expense, reducing GAAP NIM

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Agenda

Overview of Zions

Key Performance Drivers

–Capital

–Credit Quality

–Term Commercial Real Estate

–Revenue

Outlook Summary

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Near Term Objectives

§Reduce problem credits

–Continued intense focus on workouts

–On the margin, increase the use of A/B note structure

§Increase lending activity

–Additional emphasis on government guaranteed lending programs

–Marginally increase consumer lending (e.g. jumbo mortgage)

§Reduce excess cash balances

–Increase use of off-balance sheet sweep accounts for business
checking

–Lower interest rates on interest bearing accounts

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Outlook Summary

▼►	Loans
▼	Deposits (1)
▼	Nonperforming Assets
▼	Credit Costs
▲	GAAP Net Interest Margin (2)
◄▼	Core Net Interest Margin (2)
◄►	Core Non-interest Expense (3)
◄►	OTTI
◄▲	Capital Ratios

1)Reduction of non-interest bearing DDA via use of sweep accounts and reduction of highest cost interest bearing deposits

2)Significantly less accelerated amortization of sub debt discount in 3Q10 (~$27.5 million, or approximately 23-24 bps NIM
impact) compared to 2Q10 ($60.5 million, or 52 bps NIM impact); slight pressure on core NIM attributable primarily to
higher average cash balances in 3Q10 compared to 2Q10.

3)GAAP non-interest expense expected to be adversely impacted in 3Q10 due to the expensing the majority of the total return
swap cost for next 12 months (~$35 million); other expenses expected to be generally stable

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Appendix

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Asset Sensitivity

§Fixed-rate loans:

–Approximately one quarter of portfolio

–Duration of about 1.5 years

§Variable-rate loans:

–Approximately three quarters of portfolio

–Floors on approximately 48% of variable-rate loans

–Swaps: $545 million (Pay Floating, Receive Fixed)

•Continual reduction of interest rate swaps (increasing asset sensitivity)

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Loans with Floors (as of 6/30/10)

§The total amount of loans with
floors that are in-the-money
equal approximately $7.8B

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CDO Portfolio Summary

§Credit-related OTTI losses in 2Q10: $18.1 million

–Approximately 90% of these losses came from original A and BBB
rated CDOs

§Noncredit-related losses on securities in 2Q10: $1.5 million

–Recognized in OCI

*Table includes $2.2 billion par value of CDOs that are backed predominantly by bank trust preferred securities. The par value of all Bank & Insurance backed CDOs is $2.7
billion

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CDO Stress Testing - OTTI

“Deterioration in PDs %” means that the default
curve applied to the performing collateral of
each deal is made worse by the percentage
indicated.Thus a deal with a default curve of
5% stressed to a 25% “Deterioration in PDs %”
would have a 6.25% default probability curve
applied to it, a deal with 20% would go to 25%
and so forth.A “Deterioration in PDs %” stress
of 100% would double the PD curve being
applied to a deal's collateral.

Moderate Stress -The PD curve that was
applied to the performing collateral of each
CDO deal in the 2Q10 pricing run is increased
by the % indicated and the resultant values
were used to estimate OTTI losses.The
Moderate Stress Scenario at 100% would result
in approximately $118 million of pre-tax OTTI
losses.

Adverse Stress -Incorporates all of the
deterioration of PDs applied to the performing
collateral, but also stresses the PDs applied to
collateral in deferral by the same deterioration
percentages.PDs on deferring collateral are
used to estimate the value of the potential for
this collateral to cure in the future through
recovery or re-performance.

Extreme Stress -This is a very severe stress
scenario that uses the “Moderate Stress”
assumptions for performing collateral, but also
immediately defaults all deferring collateral
instantly with no recovery and no probability to
re-perform in the future.

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CDO Stress Testing - Capital

§Under various stress
scenarios, Zions’ modeling
indicates that OCI
(accumulated other
comprehensive income) would
erode, although at a
significantly lower amount
than OTTI (other than
temporary impairment).

§Under the moderate stress
scenario at 100% greater
PDs, OTTI incurred would be
approximately $118 million
pre-tax (see previous slide).
Under that same moderate
stress scenario at 100%
greater PDs, OCI would only
deteriorate by approximately
$33 million after-tax.

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History of Bank Deferrals & Defaults in Zions’ CDOs

As of 9-9-10

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Core Net Income Before Tax Detail

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13 September 2010