Zions (ZION) witnesses a marginal improvement in revenues in the fourth quarter of 2020. Also, lower expenses aid results.
Zions Bancorporation, N.A. (NASDAQ: ZION) ("Zions" or "the Bank") today reported net earnings applicable to common shareholders for the fourth quarter of 2020 of $275 million, or $1.66 per diluted common share, compared with net earnings applicable to common shareholders of $174 million, or $0.97 per diluted common share, for the fourth quarter of 2019, and net earnings applicable to common shareholders of $167 million, or $1.01 per diluted common share, for the third quarter of 2020. The Bank reported net earnings applicable to common shareholders for 2020 of $505 million, or $3.02 per diluted common share, compared with $782 million, or $4.16 per diluted common share for 2019.
Zions (ZION) is expected to have witnessed a decline in interest income in the fourth quarter of 2020, owing to muted growth in loans along with near-zero interest rates.