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Zions Bank Press Release

Zions Bancorporation Reports 2012 Fourth Quarter Results

Zions Bancorporation Reports 2012 Fourth Quarter Results

SALT LAKE CITY, Utah; January 28, 2013—Zions Bancorporation Reports 2012 Fourth Quarter Results

Eighth Consecutive Quarter of Profitability With Earnings of $0.19 Per Share

  • Zions Bancorporation, the holding company for Zions Bank, reported fourth quarter net earnings applicable to common shareholders of $35.6 million or $0.19 per diluted common share, compared to $62.3 million or $0.34 per diluted share for the third quarter.
    • Earnings in the fourth quarter were adversely affected by a net amount of $73.6 million pretax, or $0.25 per share, consisting of $83.8 million of other-than-temporary impairment (OTTI) on collateralized debt obligation (CDO) securities, partially offset by $10.2 million of CDO securities gains.
  • Loans and leases, excluding FDIC-supported loans, increased $463 million, or an annualized 5%, to $37.1 billion at Dec. 31, 2012.
    • Average loans and leases, excluding FDIC-supported loans, increased only $100 million, as most of the loan growth occurred near quarter-end.
    • The increases were predominantly in commercial and industrial and 1-4 family residential loans, and were widespread geographically.
  • Average total deposits increased $1.4 billion, or 3.3%, to $44.9 billion in the fourth quarter.
  • Tangible common equity per common share improved $0.71 to $20.95 from $20.24 in the third quarter.
  • Credit quality continued to improve in the fourth quarter. All major indicators improved, including net charge-offs, nonperforming assets, delinquent loans, and classified loans (loans with a well-defined weakness).
    • Net charge-offs decreased 51% to $19 million compared to $38 million in the third quarter of 2012. Gross charge-offs declined 7% compared to the third quarter and have declined 55% compared to a year ago.
    • Zions’ net charge-offs to loans ratio ranks among the best 10% in our peer group.
    • Nonperforming lending-related assets declined 11% to $746 million at Dec. 31, 2012.
    • Nonaccrual loans declined 10% to $647 million at Dec. 31, 2012.
    • Classified loans, excluding FDIC-supported loans, decreased approximately 2% to $1.77 billion.
    • Approximately 79% of classified loans were current as to principal and interest for the fourth quarter, compared to 76% for the third quarter of 2012.
    • The ratio of nonperforming lending-related assets to net loans and leases and other real estate owned (OREO) decreased to 1.96% at Dec. 31, 2012, compared to 2.23% at Sept. 30, 2012.
  • The continued improvement in credit quality resulted in a fourth quarter provision (credit) for loan losses of $(10.4) million, compared to $(1.9) million for the third quarter of 2012.
    • As a percentage of net loans and leases, the allowance was 2.66% at Dec. 31, 2012.
    • Zions’ loan loss reserves rank among the strongest 5% of our peer group.
    • As of Dec. 31, 2012, Zions Bancorporation was carrying $1.0 billion in allowances for loan losses on its balance sheet.
  • Zions Bancorporation’s capital ratios remain well in excess of “well-capitalized” levels.
    • The estimated common equity Tier 1 capital ratio was 9.78% at Dec. 31, 2012, compared to 9.86% in the third quarter.

View press release.

About Zions Bank

Zions Bank, a division of ZB, N.A., operates 122 full-service financial centers throughout Utah and Idaho. In addition to offering a wide range of traditional banking services, Zions Bank is also a leader in small business lending and has consistently ranked as the No. 1 lender of U.S. Small Business Administration 7(a) loans in Utah for the past 23 years and Idaho’s Boise District for the past 15 years. Founded in 1873, Zions Bank has been serving the communities of the Intermountain West for more than 140 years. Additional information is available at


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This page was last modified on Thu Sep 21 20:12:11 MDT 2017