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Zions Bank Press Release

Zions Bancorporation Reports 2013 First Quarter Results

Zions Bancorporation Reports 2013 First Quarter Results

Ninth Consecutive Quarter of Profitability with Earnings of $0.48 Per Share

April 22, 2013

View press release.

  • Zions Bancorporation, the holding company for Zions Bank, reported first quarter net earnings applicable to common shareholders of $88.3 million or $0.48 per diluted common share, compared to $35.6 million or $0.19 per diluted share for the fourth quarter of 2012.
  • Loans and leases, excluding FDIC-supported loans, increased $148 million to $37.3 billion at March 31, 2013.
    • Average loans and leases, excluding FDIC-supported loans, increased $413 million.
    • The increases were predominantly in commercial and industrial, construction and land development, and 1-4 family residential loans.
  • Average total deposits decreased $0.5 billion, or 1.1%, to $44.4 billion in the first quarter.
  • Tangible common equity per common share improved $0.72 to $21.67 from $20.95 in the fourth quarter of 2012.
  • Credit quality continued to improve in the first quarter. All major indicators improved, including net charge-offs, nonperforming assets, delinquent loans, and classified loans (loans with a well-defined weakness).
    • Gross loan and lease charge-offs declined 35% to $35.5 million compared to $54.7 million in the fourth quarter of 2012. Gross charge-offs declined 56% from the first quarter of 2012.
    • Nonperforming lending-related assets declined 8% to $684 million at March 31, 2013 from $746 million at Dec. 31, 2012.
    • Nonaccrual loans declined 8% to $594 million at March 31, 2013.
    • Classified loans, excluding FDIC-supported loans, decreased approximately 2% to $1.74 billion.
    • Approximately 80% of classified loans were current as to principal and interest for the first quarter, compared to 79% for the fourth quarter of 2012.
    • The ratio of nonperforming lending-related assets to net loans and leases and other real estate owned (OREO) decreased to 1.80% at March 31, 2013, compared to 1.96% at Dec. 31, 2012.
  • The continued improvement in credit quality resulted in a first quarter provision (credit) for loan losses of $(29.0) million, compared to $(10.4) million for the fourth quarter of 2012.
    • As a percentage of net loans and leases, the allowance was 2.50% at March 31, 2013.
    • Zions’ allowance to net charge-offs ratio continues to rank among the strongest of U.S. regional banks.
    • As of Dec. 31, 2012, Zions Bancorporation was carrying $0.9 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 10.06% at March 31, 2013, compared to 9.80% in the fourth quarter.

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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