{"id":514670,"date":"2021-07-19T16:13:13","date_gmt":"2021-07-19T20:13:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/zions-bancorporation-national-association-reports-second-quarter-financial-results\/"},"modified":"2021-07-19T16:13:13","modified_gmt":"2021-07-19T20:13:13","slug":"zions-bancorporation-national-association-reports-second-quarter-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/zions-bancorporation-national-association-reports-second-quarter-financial-results\/","title":{"rendered":"Zions Bancorporation, National Association Reports Second-Quarter Financial Results"},"content":{"rendered":"

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Zions Bancorporation, National Association Reports Second-Quarter Financial Results <\/b><\/p>\n

SALT LAKE CITY–(BUSINESS WIRE<\/a>)–
\nZions Bancorporation, N.A. (NASDAQ: ZION) (“Zions” or “the Bank”) today reported net earnings applicable to common shareholders for the second quarter of 2021 of $345 million, or $2.08 per diluted common share, compared with net earnings applicable to common shareholders of $57 million, or $0.34 per diluted common share, for the second quarter of 2020, and net earnings applicable to common shareholders of $314 million, or $1.90 per diluted common share, for the first quarter of 2021.\n<\/p>\n

\nHarris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, \u201cWe are pleased with the financial results of the second quarter of 2021. Perhaps most notably, credit performance continues to be very strong as evidenced by modest net recoveries on loans. We also now believe that future losses will be significantly less than previously expected, with the result that we released more than $120 million of our allowance for credit losses.\u201d\n<\/p>\n

\nMr. Simmons continued, \u201cExcluding PPP loans, we were also pleased with the relative stability of period-end loan balances, as well as a continued strong performance in the growth of deposits, with noninterest bearing deposits equaling nearly one half of total deposits at quarter end. Finally, our capital position is particularly strong relative to our risk profile, with our CET1 ratio reaching 11.3%, up from 10.2% at the beginning of the pandemic.\u201d\n<\/p>\n

\nFor the full version of the Bank’s 2021 second quarter earnings release, including financial tables, please visit zionsbancorporation.com<\/a>.\n<\/p>\n

Supplemental Presentation and Conference Call<\/b><\/p>\n

\nZions has posted a supplemental presentation to its website, which will be used to discuss these second quarter results at 5:30 p.m. ET this afternoon (July 19, 2021). Media representatives, analysts, investors and the public are invited to join this discussion by calling (253) 237-1247 (domestic and international) and entering the passcode 2092815, or via on-demand webcast. A link to the webcast will be available on the Zions Bancorporation website at zionsbancorporation.com<\/a>. The webcast of the conference call will also be archived and available for 30 days.\n<\/p>\n

About Zions Bancorporation, N.A. <\/b><\/p>\n

\nZions Bancorporation, N.A. is one of the nation’s premier financial services companies with annual net revenue of $2.8 billion in 2020 and more than $85 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending, recently ranking as the tenth largest provider in the U.S. of the SBA\u2019s Paycheck Protection Program loans (including both rounds). In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com<\/a>.\n<\/p>\n

Forward-Looking Information <\/b><\/p>\n

\nThis earnings release includes \u201cforward-looking statements\u201d as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management\u2019s current expectations and assumptions regarding future events or determinations, all of which are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, market trends, industry results or regulatory outcomes to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements include, among others:\n<\/p>\n