Every material Form 8-K Zions Bancorporation filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Zions Bancorporation reported third-quarter 2024 net earnings of $204 million, or $1.37 per diluted share, up from $168 million and $1.13 a year earlier. Net interest margin widened to 3.03% from 2.93%, but classified loans rose sharply to $2.1 billion from $769 million, a level shareholders may watch closely. The filing contains no revised full-year guidance.
Net earnings of $204 million and diluted EPS of $1.37, versus $168 million and $1.13 in 3Q23 and $190 million and $1.28 in 2Q24
Net interest margin of 3.03% versus 2.93% a year earlier; net interest income of $620 million, up 6%
Classified loans of $2.1 billion, or 3.55% of loans, versus $769 million, or 1.35%; provision for credit losses of $13 million versus $41 million
Agreement to buy four FirstBank branches in California's Coachella Valley with about $730 million in deposits and $420 million in loans, pending regulatory approval
Zions Bancorporation reported second-quarter 2024 net earnings of $190 million, or $1.28 per diluted share, up from $166 million, or $1.11, a year earlier. Net interest income rose 1% to $597 million and net interest margin widened to 2.98%, while customer-related noninterest income fell 5% to $154 million. Tangible book value per common share rose to $30.67 from $25.52, and the common dividend was unchanged at $0.41 per share.
Net earnings of $190 million, up from $166 million in 2Q23; diluted EPS of $1.28 vs. $1.11
Net interest margin was 2.98%, compared with 2.92% a year earlier
Customer-related noninterest income fell 5% to $154 million; pre-provision net revenue was $278 million, down 2%
Estimated CET1 capital ratio was 10.6%, compared with 10.0%; nonperforming assets rose to $265 million
At its April 26, 2024 annual meeting, Zions Bancorporation shareholders re-elected 11 directors to one-year terms, ratified Ernst & Young LLP as auditor for 2024, and approved a 2,800,000-share increase to the 2022 Omnibus Incentive Plan. Shareholders also backed 2023 executive pay on an advisory basis and rejected a proposal for a report on politicized de-banking risks.
Shareholders approved adding 2,800,000 authorized shares to the 2022 Omnibus Incentive Plan; other plan terms are substantially unchanged.
Ernst & Young LLP ratified as independent auditor for fiscal 2024: 123,233,347 for, 1,965,294 against.
Advisory say-on-pay approved with 99,653,811 votes for and 4,344,541 against.
Proposal for a report on politicized de-banking risks rejected: 1,322,381 for, 101,929,606 against.
Zions Bancorporation reported first-quarter 2024 net earnings of $143 million, or $0.96 per diluted share, down from $198 million and $1.33 a year earlier, though up from $116 million and $0.78 in the fourth quarter of 2023. Net interest income fell 14% to $586 million as higher funding costs offset higher asset yields, which weighed on the year-over-year earnings decline shareholders will focus on.
Net earnings were $143 million, or $0.96 per diluted share, versus $198 million and $1.33 in 1Q23 and $116 million and $0.78 in 4Q23.
Net interest income was $586 million, down 14% from the prior year; net interest margin was 2.94%, compared with 3.33%, and up from 2.91% in 4Q23.
The provision for credit losses was $13 million, compared with $45 million a year earlier, and included a $13 million FDIC special assessment accrual in noninterest expense.
Common dividend was $0.41 per share, unchanged from a year earlier; the company repurchased $35 million of common stock in the quarter.
Zions Bancorporation announced that Jason Arbuckle, who joined the bank in 2014, will succeed R. Ryan Richards as Senior Vice President and Corporate Controller effective April 1, 2024. The change follows Richards' previously announced move to Executive Vice President and Chief Financial Officer, so it is part of a related internal succession.
Jason Arbuckle, 46, will become Senior Vice President and Corporate Controller effective April 1, 2024.
Arbuckle most recently served as Assistant Corporate Controller over Credit and Capital Markets and was previously responsible for SEC reporting and accounting policy from 2021.
R. Ryan Richards is assuming the role of Executive Vice President and Chief Financial Officer, as previously announced on February 23, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
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