SALT LAKE CITY, July 25,
2017 /PRNewswire/ -- Zions Bancorporation (NASDAQ: ZION)
("Zions" or "the Company") today reported net earnings applicable
to common shareholders for the second quarter of 2017 of
$154 million, or $0.73 per diluted common share, compared with net
earnings applicable to common shareholders of $129 million, or $0.61 per diluted common share, for the first
quarter of 2017 and net earnings applicable to common shareholders
of $91 million, or $0.44 per diluted common share, for the second
quarter of 2016.
Harris H. Simmons, Chairman and
CEO, commented, "We are encouraged with the solid results of the
second quarter. Loan growth exceeded expectations and was
diversified across commercial and consumer categories and also by
geography. We experienced continued strong revenue growth, and
expenses – both interest expense from deposits and operating
expense – were well-controlled, resulting in a solid increase in
pre-provision net revenue. Credit costs improved substantially over
prior periods, and we expect such costs to remain low for the
foreseeable future." Mr. Simmons concluded, "We are particularly
enthusiastic about our ability to return substantial capital to
shareholders over the next several quarters, which should
contribute to further improvement in return on equity."
For the full version of the Company's 2017 second quarter
earnings release, including financial tables, please visit
zionsbancorporation.com.
Supplemental Presentation and Conference Call
Zions has posted a supplemental presentation to its website,
which will be used to discuss these second quarter results at
5:30 p.m. ET this afternoon
(July 25, 2017). Media representatives, analysts, investors,
and the public are invited to join this discussion by calling
253-237-1247 (domestic and international) and entering the passcode
52517783, or via on-demand webcast. A link to the webcast will be
available on the Zions Bancorporation website at
zionsbancorporation.com. The webcast of the conference call will
also be archived and available for 30 days.
About Zions Bancorporation
Zions Bancorporation is one of the nation's premier financial
services companies with total assets exceeding $65 billion.
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 company is a national leader in
Small Business Administration lending and public finance advisory
services, and is a consistent top recipient of Greenwich Excellence
awards in banking. 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 zionsbancorporation.com.
Forward-Looking Information
Statements in this press release that are based on other than
historical data or that express the Company's expectations
regarding future events or determinations are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements based on historical data are not intended and
should not be understood to indicate the Company's expectations
regarding future events. Forward-looking statements provide current
expectations or forecasts or intentions regarding future events or
determinations. These forward-looking statements are not guarantees
of future performance or determinations, nor should they be relied
upon as representing management's views as of any subsequent
date.
Forward-looking statements involve significant risks and
uncertainties, and actual results may differ materially from those
presented, either expressed or implied, in this presentation.
Factors that could cause actual results to differ materially from
those expressed in the forward-looking statements include the
actual amount and duration of declines in the price of oil and gas,
our ability to meet our efficiency and noninterest expense goals,
the rate of change of interest sensitive assets and liabilities
relative to changes in benchmark interest rates as well as other
factors discussed in the Company's most recent Annual Report on
Form 10-K and Quarterly Report on Form 10-Q, filed with the
Securities and Exchange Commission ("SEC") and available at the
SEC's Internet site (http://www.sec.gov).
Except as required by law, the Company specifically disclaims
any obligation to update any factors or to publicly announce the
result of revisions to any of the forward-looking statements
included herein to reflect future events or developments.
View original
content:http://www.prnewswire.com/news-releases/zions-bancorporation-reports-second-quarter-financial-results-300493751.html
SOURCE Zions Bancorporation