Zions Q3 2021 Earnings Report
Key Takeaways
Zions Bancorporation reported a solid third quarter with net earnings of $234 million and diluted EPS of $1.45. The company saw stable net interest income, strong deposit growth, and positive credit outcomes. Loan growth, excluding PPP loans, was encouraging.
Net interest income remained stable at $555 million.
Loans and leases were $50.7 billion, down $4.1 billion, or 7%; excluding PPP, loans and leases were $47.6 billion, down $0.3 billion, or 1%.
Deposits were $77.9 billion, up $10.8 billion, or 16%.
Common stock repurchases of $325 million, 5.8 million shares, or 3.6% of shares outstanding as of June 30, 2021.
Zions
Zions
Forward Guidance
Zions Bancorporation is optimistic about continued economic growth over the next several quarters, despite lingering supply chain issues and a tight labor market. Consumers and most businesses are emerging from the pandemic in relatively strong condition, thanks to government stimulus.