Zions Bancorporation Completes Asset-Based Lending Deal with a North American Distributor of Control Valves

SALT LAKE CITY, January 23, 2024 – Zions Bancorporation, N.A., through its Texas division, Amegy Bank, closed a $12,000,000 credit facility for a distributor of control valves, actuators, and related equipment for various industries. The credit facility consisted of a $10,000,000 multi-year revolving line of credit and a $2,000,000 term loan facility.  

Proceeds of the revolving line of credit facility were used to provide for ongoing working capital needs. The term loan proceeds will enable the company to make improvements to its property. 

An ABL credit facility from Zions Bancorporation can provide flexible and scalable working capital solutions for companies at any stage of their business life cycle. The bank’s focus is primarily on credit facilities from $3,000,000 and larger. Credit approval required; terms and conditions apply.

Zions Bancorporation, N.A. is one of the nation's premier financial services companies with approximately $90 billion of total assets as of December 31, 2022, and annual net revenue of $3.2 billion in 2022. 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 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at www.zionsbancorporation.com.