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Jun 30, 2023
Zions Q2 2023 Earnings Report
Zions Bancorporation reported net earnings of $166 million and diluted EPS of $1.11 for Q2 2023.
Key Takeaways
Zions Bancorporation, N.A. reported second quarter 2023 financial results, with net earnings of $166 million and diluted EPS of $1.11. The results reflect a rebound in customer deposits and stable net interest income, offset by higher costs of funds. Credit quality remained strong, with reductions in nonperforming and classified loans.
Net interest income was relatively stable at $591 million.
Customer-related noninterest income was $162 million, up 5%.
Loans and leases were $56.9 billion, up 9%.
Total deposits were $74.3 billion, down 6% from prior year quarter; customer deposits (excluding brokered deposits) were $65.9 billion, up 3% from the prior quarter.
Forward Guidance
Zions Bancorporation expects to see continued improvement in the operating environment in the months ahead.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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