Zions Q1 2023 Earnings Report
Key Takeaways
Zions Bancorporation reported a net earnings increase to $198 million, with diluted EPS of $1.33, driven by a 25% increase in net interest income. The bank's NIM rose to 3.33%, while deposits decreased by 16%.
Net earnings increased to $198 million, with diluted EPS at $1.33.
Net interest income rose by 25% to $679 million, with a NIM of 3.33%.
Loans and leases increased by 10% to $56.3 billion.
Deposits decreased by 16% to $69.2 billion.
Zions
Zions
Zions Revenue by Segment
Forward Guidance
Events during the quarter accelerated a change in funding mix and costs that we expect will reduce the near-term quarterly ‘run rate’ of revenue by approximately 4%, we expect an increased focus on operating costs will offset a portion of this impact.
Revenue & Expenses
Visualization of income flow from segment revenue to net income