Zions Bancorporation(US:ZION)2024-01-23 00:42Financial Performance - Zions Bancorporation's net income to common for Q4 2023 was $116 million, or $0.78 diluted earnings per share, compared to $648 million, or $4.35 diluted earnings per share for the full year 2023[12] - The net charge-offs to loans ratio was 0.06% for both Q4 2023 and the full year 2023[10, 12] - The common equity tier 1 ratio was 10.3%[9, 12] Balance Sheet and Lending - Loan growth ended at 1.6% in Q4 2023[9, 12] - Deposit growth, excluding brokered deposits, ended at 2.4%[9, 12] - The loan-to-deposit ratio ended at 77%[12] Net Interest Income and Margin - Adjusted Pre-Provision Net Revenue (PPNR) declined 4% linked quarter and 38% year-over-year[17] - Net interest income was stable linked quarter, but declined 19% year-over-year[21] - Net interest margin was stable at 2.91% in Q4 2023[20] Noninterest Expense - Total noninterest expense increased to $581 million in Q4 2023, including a $90 million FDIC special assessment[27] - The efficiency ratio increased to 65.1% due to lower revenue in the quarter[27] Commercial Real Estate - Term CRE constitutes $107 billion of the portfolio with conservative weighted-average LTVs of less than 60%[45] - Construction and Land Development totals $27 billion[45] - Office loans represent $20 billion, with $18 billion in term loans and $02 billion in construction loans[45]