Zions Bancorporation: Respectable Results, Stable Operator

Net Interest Margins Widened As we move forward in 2024, the cost of funds has about peaked, while more and more new loans come with a higher yield. Cost of funds here was 2.11%, 5 basis points higher than in the sequential Q1. Coupled with the big yields on loans, which hit 5.31%, 50 basis points higher than a year ago, the net interest margin widened to 2.98% versus 2.92% a year ago. The margins were also up from the sequential Q1, which was 2.94%. While new loans are going out at a higher rate, the impac ...