Zions Bank Press Release: 2015 First Quarter Earnings

Zions Bancorporation Releases 2015 First Quarter Earnings

Zions Bank Apr 20, 2015

Zions Bancorporation Reports Earnings of $75.3 Million for First Quarter 2015

View entire press release.

Zions Bancorporation, the holding company for Zions Bank, reported first quarter net earnings applicable to common shareholders of $75.3 million, or $0.37 per diluted common share, compared to $66.8 million, or $0.33 per diluted share for the fourth quarter of 2014.

Loans and leases increased $116 million this quarter to $40.2 billion at March 31, 2015.

  • Average loans and leases increased $334 million in the first quarter.
  • Increases included $101 million in commercial and industrial loans (primarily in Utah and Colorado) and $59 million in construction real estate loans.

Total deposits increased $275 million to $48.1 billion at March 31, 2015. This growth resulted primarily from increased non-interest-bearing deposits.

Compared to the fourth quarter, tangible book value per share improved by approximately 2% to $26.64; compared to the year-ago period, tangible book value per share improved by approximately 9%.

Credit quality remained strong in the first quarter and in line with expectations.

  • Gross loan and lease charge-offs declined to $20 million in the first quarter of 2015.
  • The company experienced net recoveries of $17 million in the first quarter —something not seen in at least 20 years.
  • The ratio of nonperforming lending-related assets to net loans and leases and other real estate owned (OREO) was at 0.99% at March 31, 2015.

The allowance for credit losses increased $16 million to $702 million at March 31, 2015.

  • As a percentage of net loans and leases, the allowance was 1.75% at March 31, 2015.
  • Zions’ allowance to net charge-offs ratio remains among the strongest of the company’s peer U.S. regional banks.
  • As of March 31, 2015, Zions Bancorporation was carrying $620 million in allowances for loan losses on its balance sheet.

Zions Bancorporation remains exceptionally well-capitalized, with all capital ratios well in excess of “well-capitalized” levels.

  • The estimated Basel III common equity Tier 1 capital ratio on a 2015 phase-in basis was 11.81% at March 31, 2015, essentially unchanged from 11.82% at Dec. 31, 2014.

About Zions Bank

Zions Bank, a division of ZB, N.A., operates 124 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 22 years and Idaho’s Boise District for the past 14 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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