Zions Bancorp Q1 EPS $1.33, net earnings $198M; deposits decline 16% YoY, NIM 3.33%

ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/

2023-Q1 EPS reported $1.33 revenue$151,000,000

Net earnings $198M, diluted EPS $1.33, vs $1.27 in Q1 2022 and $1.84 in Q4 2022.
Net interest margin 3.33%, up from 2.60% YoY; net interest income $679M, up 25%.
Deposits $69.2B, down 16% YoY; loan-to-deposit ratio 81% vs 62%. Borrowed funds $12.1B vs $0.6B.
Allowance for credit losses 1.20% of loans vs 1.00%; no net charge-offs in Q1.
CEO expects ~4% reduction in near-term quarterly revenue run-rate due to funding mix; CET1 ratio 9.9%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ reported financial results for quarter ended March 31, 2023.

Period: quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On April 19, 2023, Zions Bancorporation, National Association (“the Bank”) announced its financial results for the quarter ended March 31, 2023

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Source: SEC EDGAR

accession 0000109380-23-000107

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