Zions Bancorporation, National Association (ZION) Q1 2025 Earnings Call Transcript

2025-04-21 23:02:33 ET

Zions Bancorporation, National Association (ZION)

Q1 2025 Earnings Conference Call

April 21, 2025 05:30 PM ET

Company Participants

Shannon Drage - Senior Director of Investor Relations

Harris Simmons - Chairman and Chief Executive Officer

Ryan Richards - Chief Financial Officer

Scott McLean - President and Chief Operating Officer

Derek Steward - Chief Credit Officer

Conference Call Participants

Manan Gosalia - Morgan Stanley

John Pancari - Evercore ISI

Bernard von Gizycki - Deutsche Bank

Peter Winter - D.A. Davidson & Co.

Benjamin Gerlinger - Citigroup Inc.

Ken Usdin - Autonomous Research

Anthony Elian - JPMorgan Chase & Co.

Christopher McGratty - Keefe, Bruyette, & Woods, Inc.

Jon Arfstrom - RBC Capital Markets

Presentation

Operator

Greetings, and welcome to the Zions Bancorp Q1 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce, Shannon Drage. Thank you, Shannon. You may begin.

Shannon Drage

Thank you, Julian, and good evening, everyone. Welcome to our conference call to discuss the first quarter earnings for 2025. My name is Shannon Drage, Senior Director of Investor Relations.

I would like to remind you that during this call, we will be making forward-looking statements. Please note that actual results may differ materially. We encourage you to review the disclaimer in the press release or Slide 2 of the presentation, dealing with forward-looking information and the presentation of non-GAAP measures, which applies equally to statements made during this call. A copy of the earnings release as well as the presentation are available on zionsbancorporation.com.

For our agenda today, Chairman and Chief Executive Officer, Harris Simmons will provide opening remarks. Following Harris' comments, Ryan Richards, our Chief Financial Officer will review our financial results. Also with us today are Scott McLean, President and Chief Operating Officer; Derek Steward, Chief Credit Officer; and Chris Kyriakakis, Chief Risk Officer. After our prepared remarks, we will hold a question-and-answer session. This call is scheduled for one hour.

I will now turn the time over to Harris Simmons.

Harris Simmons

Thanks very much, Shannon, and good evening, everyone. We are generally pleased with our fundamental performance and the financial results for the first quarter, which reflects meaningful year-over-year improvement. Our ratio of non-performing assets to loans, leases and other real estate owned remained stable last quarter, though up somewhat from last year. Net loan charge-offs remained low. And our allowance for credit losses is well aligned with the current economic outlook. We feel well positioned for what could be a period of increased economic uncertainty....

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