earnings
confidence high
sentiment positive
materiality 0.70
Zions Bancorp Q2 net earnings $190M, diluted EPS $1.28; NIM expands to 2.98%
ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/
2024-Q2 EPS reported
$2.24
revenue$305,000,000
- Net earnings $190M ($1.28 diluted EPS) vs $166M ($1.11) in Q2 2023; revenue/net interest income $597M, up 1%.
- Net interest margin 2.98%, up from 2.92% a year ago; estimated CET1 ratio improved to 10.6% from 10.0%.
- Loans and leases $58.4B, up 3%; provision for credit losses only $5M (vs $46M); net charge-offs annualized 0.10%.
- Nonperforming assets rose to $265M (0.45% of loans) from $164M (0.29%); customer deposits $69.5B, up 5%.
- Completed FutureCore core processing system conversion; tangible book value per share up 20% YoY.