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Jun 30, 2020
Zions Q2 2020 Earnings Report
Zions Bancorporation's financial performance decreased due to lower net interest income and increased provision for credit losses.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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