ZION•Zions Bancorp reported third-quarter EPS of $1.78, up 20% year over year, citing improved credit quality and lower net loan charge-offs. Deposits grew nearly 10% annualized from the second quarter, while loan growth was flat.
Zions Bancorp said third-quarter EPS rose 20% year over year to $1.78, driven by improved credit quality and lower net loan charge-offs.
Customer deposits grew nearly 10% annualized from second-quarter levels, offsetting flat loan growth. The company expects stronger net interest income if interest rates remain elevated and continued improvement in noninterest income into next year.
The company completed its acquisition of Basis Multifamily Finance I, LLC in July, adding a multifamily finance platform.
