Press release
Zions Bancorporation, National Association Reports Fourth-Quarter and Full-Year 2020 Financial Results
SALT LAKE CITY--(BUSINESS WIRE)-- Zions Bancorporation, N.A. (NASDAQ: ZION) ("Zions" or "the Bank") today reported net earnings applicable to common
About this update from Zions Bancorporation N.a.
[{"type":"text","content":" SALT LAKE CITY--(BUSINESS WIRE)--\nZions Bancorporation, N.A. (NASDAQ: ZION) (\"Zions\" or \"the Bank\") today reported net earnings applicable to common shareholders for the fourth quarter of 2020 of $275 million, or $1.66 per diluted common share, compared with net earnings applicable to common shareholders of $174 million, or $0.97 per diluted common share, for the fourth quarter of 2019, and net earnings applicable to common shareholders of $167 million, or $1.01 per diluted common share, for the third quarter of 2020. The Bank reported net earnings applicable to common shareholders for 2020 of $505 million, or $3.02 per diluted common share, compared with $782 million, or $4.16 per diluted common share for 2019.\n\nHarris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, “We were quite pleased with the quarter, which was characterized by stable revenue despite the pressure of low interest rates and solid credit results, as reflected in very low net loan losses during a challenging time. Non-PPP loan volumes stabilized, with period-end loans flat with the third quarter, while deposits continued to exhibit very strong growth, with average deposits up an annualized 10.6% over the third quarter, and 20.3% over the same quarter a year ago.”\n\nMr. Simmons continued, “We are also pleased with the strength of our capital, as demonstrated by growth in our CET1 ratio to 10.8% from 10.2% in the year-ago period. Finally, with recently passed legislation authorizing a second round of PPP loans, we are working hard to deliver this aid to many thousands of small businesses throughout our footprint.”\n\nFor the full version of the Bank's 2020 fourth quarter earnings release, including financial schedules, please visit zionsbancorporation.com.\n\nSupplemental Presentation and Conference Call\n\nZions has posted a supplemental presentation to its website, which will be used to discuss these fourth quarter results at 5:30 p.m. ET this afternoon (January 19, 2021). 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 7491914, 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 archiv...