Business

Fourth Quarter Earnings 2020

Zions Bancorporation, N.A. Reports Net Earnings of $275 Million for the Fourth Quarter of 2020

Zions Bank Jan 19, 2021

Zions Bancorporation Chairman and CEO Harris Simmons commented, “We were quite pleased with the quarter, which was characterized by stable revenue despite the pressure of low interest rates and solid credit results, as reflected in very low net loan losses during a challenging time. Non-PPP loan volumes stabilized, with period-end loans flat with the third quarter, while deposits continued to exhibit very strong growth, with average deposits up an annualized 10.6% over the third quarter, and 20.3% over the same quarter a year ago.

“We are also pleased with the strength of our capital, as demonstrated by growth in our CET1 ratio to 10.8% from 10.2% in the year-ago period. Finally, with recently passed legislation authorizing a second round of PPP loans, we are working hard to deliver this aid to many thousands of small businesses throughout our footprint.”

Fourth Quarter 2020 Results

  • Earnings per Diluted Common Share: $1.66
  • Net Earnings: $275 million
  • Net Interest Margin: 2.95%
  • Common Equity Tier 1: 10.8%

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