Zions Q2 2020 Earnings Report
Key Takeaways
Zions Bancorporation reported net earnings of $57 million, or $0.34 per diluted share, for the second quarter of 2020, compared to $189 million, or $0.99 per diluted share, for the same period in 2019. The decrease was primarily due to a decrease in net interest income and an increase in the provision for credit losses.
Net interest income was $563 million, a decrease of 1% compared to the prior year.
Net loans and leases were $55.1 billion, up 13% and includes SBA PPP loans of $6.7 billion.
The provision for credit losses was $168 million, compared with $21 million in the prior year.
The CET1 Capital ratio was 10.2%, compared with 10.8% in the prior year.
Zions
Zions
Forward Guidance
The earnings release does not contain specific forward guidance. It discusses potential impacts of COVID-19 and other risk factors that could affect future results.