Zions Bancorporation, National Association Reports Fourth Quarter Financial Results
Zions Bancorporation (NASDAQ: ZION) reported Q4 2024 net earnings of $200 million, or $1.34 per diluted common share, compared to $116 million ($0.78 per share) in Q4 2023 and $204 million ($1.37 per share) in Q3 2024.
The bank's adjusted taxable-equivalent revenue increased 9% year-over-year, while adjusted noninterest expense rose 4%, resulting in a 19% increase in adjusted pre-provision net revenue. Net loan losses were higher at an annualized rate of 0.24%, with two-thirds attributed to a single commercial & industrial credit. Nonperforming loans decreased 18% from Q3, reaching 0.50% of total loans, though classified loans increased primarily in the commercial real estate portfolio.
Zions Bancorporation (NASDAQ: ZION) ha riportato utili netti per il quarto trimestre del 2024 di 200 milioni di dollari, ovvero 1,34 dollari per azione ordinaria diluita, rispetto ai 116 milioni di dollari (0,78 dollari per azione) registrati nel quarto trimestre del 2023 e ai 204 milioni di dollari (1,37 dollari per azione) nel terzo trimestre del 2024.
Il reddito annuale rettificato equivalente imponibile della banca è aumentato del 9% rispetto all'anno precedente, mentre le spese non interessate rettificate sono aumentate del 4%, portando a un aumento del 19% nei ricavi netti rettificati prima delle accantonamenti. Le perdite nette sui prestiti sono aumentate a un tasso annualizzato dello 0,24%, con due terzi attribuiti a un singolo credito commerciale e industriale. I prestiti non performanti sono diminuiti del 18% rispetto al terzo trimestre, raggiungendo lo 0,50% del totale prestiti, anche se i prestiti classificati sono aumentati principalmente nel portafoglio immobiliare commerciale.
Zions Bancorporation (NASDAQ: ZION) reportó ganancias netas de 200 millones de dólares en el cuarto trimestre de 2024, o 1.34 dólares por acción común diluida, en comparación con 116 millones de dólares (0.78 dólares por acción) en el cuarto trimestre de 2023 y 204 millones de dólares (1.37 dólares por acción) en el tercer trimestre de 2024.
Los ingresos ajustados equivalentes a impuesto de la banca aumentaron un 9% interanual, mientras que los gastos no financieros ajustados aumentaron un 4%, lo que resultó en un aumento del 19% en los ingresos netos ajustados antes de provisiones. Las pérdidas netas de préstamos fueron más altas con una tasa anualizada del 0.24%, con dos tercios atribuidos a un único crédito comercial e industrial. Los préstamos no productivos disminuyeron un 18% desde el tercer trimestre, alcanzando el 0.50% del total de préstamos, aunque los préstamos clasificados aumentaron principalmente en el portafolio de bienes raíces comerciales.
자이언스 은행공사 (NASDAQ: ZION)는 2024년 4분기 순이익이 2억 달러 또는 희석된 보통주 1주당 1.34달러로 보고되었으며, 이는 2023년 4분기 1억 1천6백만 달러(주당 0.78달러)와 2024년 3분기 2억 4백만 달러(주당 1.37달러)와 비교됩니다.
은행의 조정된 과세 동등 수익은 전년 대비 9% 증가했으며, 조정된 비이자 비용은 4% 상승하여 조정된 예비 한도 전 순 수익이 19% 증가했습니다. 순 대출 손실은 연율 0.24%로 더 높았으며, 그 중 3분의 2는 단일 상업 및 산업 신용에 기인한 것입니다. 부실 대출은 3분기 대비 18% 감소하여 전체 대출의 0.50%에 도달했지만, 분류된 대출은 주로 상업용 부동산 포트폴리오에서 증가했습니다.
Zions Bancorporation (NASDAQ: ZION) a annoncé un bénéfice net de 200 millions de dollars pour le quatrième trimestre de 2024, soit 1,34 dollar par action ordinaire diluée, contre 116 millions de dollars (0,78 dollar par action) au quatrième trimestre de 2023 et 204 millions de dollars (1,37 dollar par action) au troisième trimestre de 2024.
Les revenus ajustés équivalents imposables de la banque ont augmenté de 9% par rapport à l'année précédente, tandis que les charges non liées aux intérêts ajustées ont augmenté de 4%, ce qui a entraîné une augmentation de 19% des revenus nets ajustés avant provisions. Les pertes nettes sur prêts étaient plus élevées avec un taux annualisé de 0,24%, les deux tiers étant attribués à un unique crédit commercial et industriel. Les prêts non performants ont diminué de 18% par rapport au troisième trimestre, atteignant 0,50% de l'ensemble des prêts, bien que les prêts classés aient augmenté principalement dans le portefeuille immobilier commercial.
Zions Bancorporation (NASDAQ: ZION) meldete für das vierte Quartal 2024 einen Nettogewinn von 200 Millionen US-Dollar, was 1,34 US-Dollar pro verwässerter Stammaktie entspricht, im Vergleich zu 116 Millionen US-Dollar (0,78 US-Dollar pro Aktie) im vierten Quartal 2023 und 204 Millionen US-Dollar (1,37 US-Dollar pro Aktie) im dritten Quartal 2024.
Die steuerlich angepassten äquivalenten Einnahmen der Bank stiegen im Jahresvergleich um 9%, während die angepassten nicht-zinsbezogenen Aufwendungen um 4% zunahmen, was zu einem 19%-Anstieg des angepassten Nettorevenues vor Rückstellungen führte. Die Nettoausfälle von Krediten lagen mit einer annualisierten Rate von 0,24% höher, wobei zwei Drittel einem einzigen gewerblichen und industriellen Kredit zuzurechnen sind. Die ausstehenden Kredite verringerten sich um 18% gegenüber dem dritten Quartal und erreichten 0,50% der Gesamtkredite, obwohl die klassifizierten Kredite vor allem im Portfolio für Gewerbeimmobilien zunahmen.
- Net earnings increased 72% year-over-year from $116M to $200M in Q4 2024
- Adjusted taxable-equivalent revenue grew 9% year-over-year
- Adjusted pre-provision net revenue increased 19%
- Nonperforming loans decreased 18% quarter-over-quarter to 0.50% of total loans
- Net loan losses increased to 0.24% annualized rate
- Classified loans continued to increase in commercial real estate portfolio
- Quarter-over-quarter earnings declined from $204M to $200M
Insights
Zions Bancorporation's Q4 2024 results reveal a compelling narrative of financial resilience and strategic execution. The 72% year-over-year increase in earnings per share from
The bank's efficiency metrics are particularly impressive, with revenue growth outpacing expense growth by a factor of more than 2x (
However, the credit quality narrative requires careful scrutiny. While the
Looking ahead, management's optimistic outlook for sustained growth and margin improvement appears credible, supported by:
- Demonstrated cost control effectiveness
- Strong collateral and guarantor support in the loan portfolio
- Improving net interest margin trajectory
However, investors should monitor the commercial real estate exposure and potential credit quality deterioration, as these could impact future performance despite management's confident outlook.
Harris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, "We're pleased with the continued improvement in the financial performance demonstrated by our fourth quarter results. Adjusted taxable-equivalent revenue increased
Mr. Simmons continued, "Net loan losses were higher in the quarter, at an annualized rate of
Mr. Simmons concluded, "We're optimistic that the coming year will produce sustained growth, continued improvement in our net interest margin, and increased profitability."
For the full version of the Bank's 2024 fourth quarter earnings release, including financial schedules, please visit www.zionsbancorporation.com.
Supplemental Presentation and Conference Call
Zions has posted a supplemental presentation to its website, which will be used to discuss the fourth quarter results at 5:30 p.m. ET on January 21, 2025. Media representatives, analysts, investors, and the public are invited to join this discussion by calling (877) 709-8150 (domestic and international) and using the meeting number 13750908, or via on-demand webcast. A link to the webcast will be available on the Zions Bancorporation website at www.zionsbancorporation.com. The webcast of the conference call will also be archived and available for 30 days.
About Zions Bancorporation, N.A.
Zions Bancorporation, N.A. is one of the nation's premier financial services companies with approximately
Forward-Looking Information
The earnings release includes "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and assumptions regarding future events or determinations, all of which are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results, performance or achievements, industry trends, and results or regulatory outcomes to differ materially from those expressed or implied. Forward-looking statements include, among others:
- Statements with respect to the beliefs, plans, objectives, goals, targets, commitments, designs, guidelines, expectations, anticipations, and future financial condition, results of operations, and performance of Zions Bancorporation, National Association and its subsidiaries (collectively "Zions Bancorporation, N.A.," "the Bank," "we," "our," "us"); and
- Statements preceded or followed by, or that include the words "may," "might," "can," "continue," "could," "should," "would," "believe," "anticipate," "estimate," "forecasts," "expect," "intend," "target," "commit," "design," "plan," "projects," "will," and the negative thereof and similar words and expressions.
Forward-looking statements are not guarantees, nor should they be relied upon as representing management's views as of any subsequent date. Actual results and outcomes may differ materially from those presented. Although the following list is not comprehensive, important factors that may cause material differences include:
- The quality and composition of our loan and investment securities portfolios and the quality and composition of our deposits;
- Changes in general industry, political, and economic conditions, including elevated inflation, economic slowdown or recession, or other economic challenges; changes in interest and reference rates, which could adversely affect our revenue and expenses, the value of assets and liabilities, and the availability and cost of capital and liquidity; deterioration in economic conditions that may result in increased loan and lease losses;
- The effects of newly enacted and proposed regulations affecting us and the banking industry, as well as changes and uncertainties in applicable laws, and fiscal, monetary, regulatory, trade, and tax policies;
- Actions taken by governments, agencies, central banks, and similar organizations, including those that result in decreases in revenue, increases in regulatory bank fees, insurance assessments, and capital standards; and other regulatory requirements;
- Judicial, regulatory and administrative inquiries, investigations, examinations or proceedings and the outcomes thereof that create uncertainty for, or are adverse to us or, the banking industry;
- Changes in our credit ratings;
- Our ability to innovate and otherwise address competitive pressures and other factors that may affect aspects of our business, such as pricing, relevance of and demand for our products and services, and our ability to recruit and retain talent;
- The potential for both positive and disruptive impacts of technological advancements, such as digital currencies and commerce, blockchain, artificial intelligence, quantum and cloud computing, and other innovations affecting us and the banking industry;
- Our ability to complete projects and initiatives and execute on our strategic plans, manage our risks, control compensation and other expenses, and achieve our business objectives;
- Our ability to develop and maintain technology, information security systems, and controls designed to guard against fraud, cybersecurity, and privacy risks and related incidents;
- Our ability to provide adequate oversight of our suppliers to help us prevent or mitigate effects upon us and our customers of inadequate performance, systems failures, or cyber and other incidents by, or affecting, third parties upon whom we rely for the delivery of various products and services;
- The effects of wars and geopolitical conflicts, and other local, national, or international disasters, crises, or conflicts that may occur in the future;
- Natural disasters, pandemics, catastrophic events, and other emergencies and incidents, and their impact on our and our customers' operations, business, and communities, including the increasing difficulty in, and the expense of, obtaining property, auto, business, and other insurance products;
- Governmental and social responses to environmental, social, and governance issues, including those with respect to climate change;
- Securities and capital markets behavior, including volatility and changes in market liquidity and our ability to raise capital;
- The possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and shareholders' equity;
- The impact of bank closures or adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks;
- Adverse news and other expressions of negative public opinion whether directed at us, other banks, the banking industry, or otherwise that may adversely affect our reputation and that of the banking industry generally;
- Protracted congressional negotiations and political stalemates regarding government funding and other issues, including those that increase the possibility of government shutdowns, downgrades in
United States ("U.S. ") credit ratings, or other economic disruptions; and - Other assumptions, risks, or uncertainties described in the earnings release, and other SEC filings.
We caution against the undue reliance on forward-looking statements, which reflect our views only as of the date they are made. Except to the extent required by law, we specifically disclaim any obligation to update any factors or to publicly announce the revisions to any forward-looking statements to reflect future events or developments.
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SOURCE Zions Bancorporation
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