Zions Bancorp NA (NAS:ZION)

$ 46.49 1.38 (3.06%) Market Cap: 6.87 Bil Enterprise Value: 4.86 Bil PE Ratio: 11.20 PB Ratio: 1.23 GF Score: 77/100

Q2 2024 Zions Bancorporation NA Earnings Call Transcript

Jul 22, 2024 / 09:30 PM GMT

Release Date Price: $49.48 (+1.02%)

Transcript 8-K

Key Points

Positve

Successful completion of the final major conversion to a new core operating system for loans and deposits.
Net interest margin expanded by four basis points on a linked quarter basis and improved six basis points year-over-year.
Strong accretion to tangible book value, which increased 20.1% year-over-year.
Net charge-offs remain low at just 10 basis points annualized as a percentage of average loans for the quarter.
Positive trends in higher revenue, well-managed expenses, and satisfactory risk outcomes.

Negative

Customer deposit balances declined by just under 1% in the quarter on a period-end basis.
Fee income growth has been somewhat sluggish during the first half of the year.
Increase in classified loan balances by $298 million, with over three-quarters in the C&I portfolio.
Adjusted expenses in the current period were up 2% compared to the second quarter of 2023.
Nonperforming assets increased by $14 million or four basis points as a percentage of loans and other real estate-owned.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ZION.OQ - Zions Bancorporation NA
Q2 2024 Zions Bancorporation NA Earnings Call
Jul 22, 2024 / 09:30PM GMT

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Presentation
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Operator [1]
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And welcome to the Bank Corp. Q2 earnings conference call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, standard rates, Senior Director of Investor Relations. Thank you, Shannon, and you may begin.

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Unidentified_01 [2]
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Thank you, Alicia, and good evening. We

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