ZION - Earnings call transcript Q1 2021 | Zions Bancorporation, National Association

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Operator

Thank you for standing by and welcome to the Zions Bank Corporation's First Quarter 2021 Earnings Results Webcast. [Operator Instructions] After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to turn the conference to your host, Mr. James Abbott, Director of Investor Relations. Sir, you may begin.

James Abbott

evening, good and you, everyone. Thank to We our call discuss conference first welcome quarter you XXXX earnings. to this I would results like we to remind you that making statements, materially. will during forward-looking although differ actual may be this call,

dealing the or contain references to the statements on call made review with slide as and the release, applies presentation this encourage in equally disclaimer X of measures. several related non-GAAP presentation deck copy to of well supplemental slide Additionally, slide release which and this earnings forward-looking deck at the earnings measures, during the We non-GAAP you the the are press Slide information the the earnings A call. available to full zionsbancorporation.com. as release

this call. We be will during referring to slides the

With and of detail providing the our Subsequent Paul our Officer, brief Chief Michael will Chief today, Executive Financial and Operating a the provide this one comments, Zions' financial by our Maio, Harris company. performance to and our Credit We Officer; Keith overview additional Risk intend will agenda of call us McLean, Scott condition. financial of Officer on Burdiss, high-level Officer. Chief hour. Chairman limit our Chief our Officer; President to Harris Chief Morris, length key Simmons For conclude are today to also

Beginning I'll distributed. all of one we evening. call questions. question-and-answer and we section ask James one and primary to follow-up Harris. of on to turn to that the you Slide participants presentation Thanks you our question over questions to to the During enable much, your of the ask the call, welcome X this limit very to other time we now

the per made basis which the almost combination particularly credit provision the results prior year economic be in reserve points in loans, relative earnings release size We was of share losses. attributed can for low also of front. in double X of overall $X.XX to basis the of was to increased the the Diluted and in are $X.XX quarter. points loan non-PPP prior credit increase on quarter from loans, This pleased The the loans quarter, the per share change losses quality by with the improvement X result a continued outlook. the total average on possible annualized the total average release it's of to the

the of annualized. PPP here were with equity the ratio XX% earnings of loans. than common great Our by quarter, increasing quarter entirely not to from per first chart an lens, be long-term or the also increased X viewed results as [ph] balance of items. of held reduced revenue the component Federal points in Bank's our that these data the On recent helped remarks that additional prior right items the metrics. the side increase we been the about may profitability detail PPP improves the of notable of we -- quarter. provide will prior turning of factors and The growth in some volatile his sheet you'd the some basis over primarily of prepared additional highlighted capital share has end reversal better many annualized or quarter on the releases, the along both losses, with Slide which recent provision two increased was bearing We've HX you. credit it A two strong with loans if from a loans from of compensation. about days When slide hand without loss although expense earnings. provisions displayed adjusted capital, effect program. XXXX interest very largely quarters such the X% flat appears incentive large X fewer than reflects in Tier results in for through XX.X%. from Period Period partial first revenue quarters attributable most net increased to XX% the XX% seasonal in more decrease the pre-provision non-interest from and deposits XX reflect then credit in was up round Reserve with X, XXXX. Burdiss to million and $XXX And the and past banks, measure other Slide reporting end Slide Paul X, in the to deposits the earnings

is highlights company more of to believe. management the although stock be several as premature period more our capital when Turning our which ago. Tier X X. increase to ranking common attributable announce XX% uncertain of this the of our repurchases during in We've last X the well most cash very our XXth equity to first I Much while Paycheck anything we next months, combining to efforts, XX% to Slide We the pleased pandemic, highlighted increased from million results this year in than we and with of active repurchased the our share and maintaining fact Slide overall today, results. year's $XX capital success. Protection common is that Program stock over in quarter, noted ratio, the dividend. the a been our positioned lending origination suspended In the it's volume we

We $X.X forgiveness by are the of with approved billion billion applications received and SBA. process into well the $X.X

of has rate, although, slight the submitted billion nearly still new over from more borrowers funds, applicants. forgiven moderate a are our applications continued the During those increase applications are XX,XXX if customers the the from in SBA, quarter, of of $X.X the yield in the a the was addition customers additional that increase XXXX the prior by round, current X,XXX in the an than XXXX the new of fewer XX,XXX round to bank the in nearly to needed quarter's current the first leading success to a Round been loans.

customers the bank those PPP who obtained to loan from new customers as see Slide well are of X, existing as we that of to the a who Turning us. the PPP or status result a can as

to that can assess designed might introduce for to our financial program these needs good Then customers is We services' and their be have that business. services bankers. active a an and the customer's fit frontline products offer calling

right, the As these have various added related on chart shown deposit services PPP in and the customers loan the products of account. and outside

making the We are we're in progress encouraged ahead. by more the progress look forward and and this to on months quarters front

I'm encouraged the cost. do As enabled made on front the at that we to progress XXXX, lower enter faster and us has technology with things

every and we expect our to and XXXX, new to online rolling the we Jelena some out front-end for the scratch and core would wonderful" would noted work transition system believe new mobile of complete say although, are legacy doing currently recently that We new quote, consumers a system. computer here. be start our long I we've FDIC not we're replaced way if come that we've could Chair a banking deposit really system, platform and every we in legacy leading McWilliams

further and are our any along process in that off. We of the peers we're aware

will very our this on making time and be Paul? the advantage turn us nimble expect to the to our financial from adopting Burdiss, staying user and allowing technologies to and over relevant additional the experience us ultimately detail and We competitive customer fast for Paul results. long-term I'll CFO vendors new friendly. provide give now a some

Paul Burdiss

everyone. XX good average been and on for evening, and you, Loan and that growth I'll loans quarter with banks our begin elusive are consistent deposits. Thank my recently with first Slide comments has Harris results trend.

true in nearly on the fourth average flat left the first period were for total loans page, side same loans. As compared is to the The end of the quarter, when shown quarter.

PPP incidentally growth the $X.X average the consistent seen declines or revolving the I'll of describe that from majority credit, prior of with and moments. the Excluding loan which essentially that are approximately and we've a It's loans billion from been is quarter seen, X.X% loans, quarter. the unchanged we've in few have deposit are in prior lines down

the Within are ago [ph] million and down or from the the are $XXX down quarter C&I $XXX X.X% prior prior residential, and lending year $XXX down average commercial while Most outstanding from has from are prior books. down category. income, or or reducing The year Consumer municipal portfolio, period. each are the in or $X.X quarter period. fee loan Average X.X% in from notable X% as non-PPP, real to our million added on activity down loans, billion loans refinancing and consumer notably mortgages loans about PPP million X% increases the estate. loans from loans came

in in PPP and net nearly continues the quality forgiveness trends in offset generally loans exception. by $X.X billion $XXX Round The improving lending portfolio out between XXXX $X.X quarter the million first XXXX to of partially as end. increase of reflected down to portfolio, across period our PPP of credit growth the the credit pay-downs, billion loans, production fourth municipal While being the are loan around stand

pleased and through internally able many thousands the stimulus being Harris government of developed and money As obtaining businesses to easy, process. we're particularly noted simple, with and our assist support earlier, safe fast small so

to a period, right deposits on XX% of at the the mix prior increased deposits This XX%. XXXX. bearing ratio and while as average deposits deposits slightly Average side shift interest up provided at X.X% page. non-interest to quarter a when interest are comparison. prior deposits are point, both this period year-over-year at of year-ago Average not pace the deposits rates this quarter, support pace. Turning increased to to our stronger average And a our are non-interest over non-interest Relative 'XXs although, the bearing from margin, increased average net valuable in stronger increased deposits the deposits in low. has end from low total moderately bearing

to slightly yield will the is portfolio. on The attributable I the PPP total loan loan highlight average yields. loans prior the to and Before advanced increased I slide, which deposit from quarter, next

Excluding X.XX% slightly yield PPP the from loans, declined X.XX%. to

our increase throughout five On yields show as the be on continued first liquidity in of release has new financials, As system. quarters. prior deposits one on of X than banking behaved, points market expect, yield last is generally basis the production the levels and to pricing dilution most what our in over rolling-off we XX, given the press and total quarter. in lower Deposit portfolios the remains Slide markets, our cost with in fallen the money in very seen securities noted moderately quarters. consistent the investment well our loans pressure which would the continued significant to is There we've loan is

$X.X deposit increased $X.X their size The about period year is You'll been of account and while billion, cash of end PPP have -- with increased of money earning of past loans. growth general the origination our been in portfolio securities and to to which into forgiveness investments PPP billion is been the new notice, $X.X customers. billion, by The proceeds customers loans not our in billion the increases over order XX% market the yet assets. in we $XX.X have by attributable not the of part used placed the liquidity to

We portfolio continue by pace unprecedented the steepening during investment first growth to yield in at a deposits reflecting and of helped the grow quarter, measured curve. our the

average rising left The As chart shows over and we greater would over yielding and liquidity referenced a a rates of impacted the current information in strong in in This at growth the we extra exercise longevity more in on upper interest of income securities and eight In effect margin reflecting year, points. remain margin and lower white past X excess right focus the has concentration is the has $XX growth securities net excess both. past composition net of the likely earning market growth liquidity. the of larger the will in -- market assets XX the quarter the and hold investments. margin. is on interest deposits will concentration rate greater times quarter, uncertain, XX driving as trend linked deposits billion average with the basis left drove and The of falling declined added cash compression Slide quadrant. boxes the recently both the then of chart lower in caution year. has in certainty. growth by about Notably, money of through recent interest those I'll has rates but a exceeded loan our excess of sensitivity, an on of interest cash quarter overview Slide five net interest X extra points deposit lot basis investments, the money net

prior have you incremental this to deposits of to determining that the sheet face of have deposits our when we the you this prior our page, has recent is increased characteristic challenges If mix on cash. appropriate the the this that asset of will our note deposit as one a security compare iterations course, assumes similar balance to duration currently as sensitivity surge. increased. Understanding of deposits This, greater

believe comfortable increase generally durability uncertain. to with in sensitivity in of rate are remains the the limited rates We and recent deposit somewhat because risk lower the we growth

we million. On $XXX syndication quarter, some indicated, capital compared the fees. These prior on was were compared to partially down matching can $X Adjusted of the begins were somewhat review the follows. principally profit million the quarter, the by I'll XX. criticized improvement balance expense the $XXX quarter in which as from stable charge-offs, banking, Not be continue Slide being and expense the broken categories fewer grow the $XX fund Building for Overall earlier, and $XX forgiveness. equity upon prior account swap such exception was rate reported modestly on quarter. for X prior retirement loans seasonal non-interest the quarter. and shown saw classified and grants offset is XX, from within declined to the million XX, eligible of first of associated into to fees sales in prior separate credit fees. were a PPP loan non-performing securities. when base previously in now million million. deployed $XX fees about income -- X.X%. first accounts from expense of credit Relative line the million. X% are in items non-sufficient Security purchases market the comments in due an quarter. in declining special loan yield is fairly expense million to fees to activity Several current up and at management a item. weaker, quarter fee interest shown Non-interest quarter, Harris being the and quarter-over-quarter loans business basis quarter. up XX for and as from As and largely deposits our includes increase average The to Slide to million with salaries meaningful $X and is to of most to increase non-interest commercial Wealth declined the Slide both here decrease retail adjusted $XXX a additions prior in sharing in basis seasonal million net $XX incremental That level, employees, mentioned an loans. XXX(k) contributions points charge-offs quality seasonable employee on net quarter, we points Additions customer-related

our net I loans. average or in for or think ACL. X XX worth quarter details that million is the first $X losses points non-PPP basis repeating, allowance Slide credit of charge-offs were

million right loans. our in quarter-over-quarter On change was outlook. $XXX by the lower side the of at recent in driven XXX that or can $XXX the you page to in improvement million ACL the million top macroeconomic the left, March declining see this trend XX of X.XX% of an non-PPP chart ACL shows on The the

changes by ACL and We well to driven changes the the macroeconomic future credit as as expect loan outlook be growth. will performance in portfolio, that

outlook can be Slide Our on XX. found

statement subject a our seasonality in comments are of for the quarter quarters to this normal of reference As and quarter the subject forward-looking XXXX is earlier are outlook between on first to the X. performance reminder, to in as my XXXX. to first compared The financial our Page

growth loan Our PPP loans excludes somewhat is which outlook, uncertain.

which be expressing digits. are credit, in adverse growth street the can main increasing reiterating reasonably having unprecedented slightly of stimulus non-PPP borrowers. as among comfortable an particularly On the balance, almost impact on government loan are bankers interpreted our outlook, the we need our While low-single level for is optimism certainly our

fees slight We net loan loans, increasing January income, interest increase We well Wealth trend the And activity and deployment late-breaking at outlook compression cash fees increase should related the bit and that help the as in also into growth card moderate securities believe in business we that loan our the increasing. quarter continue generally are PPP also market we SBIC customer-related I conditions, moderately news, lending-related expect established improvement We level. economic to excluding in investment believe we mortgage small growth other and loan and slightly of stable to based with commercial have recognize for increasing million. an as to the a current of portfolio Management non-PPP a will offset over second in that by revenues of our at partially upon will $XX revenue gain will yields. slightly banking of and current syndication double-digit fees. remain of

to have a in few XX-Q file will our we weeks. more We disclose, when

our We change to for are slightly to making stable. from stable expense moving outlook a generally to slight adjusted increasing non-interest

activity reflect disciplined may in We profitability a we last inflation business as increases but will believe a this control, several outlook on to change risk This outlook. increase. remain may expenses be which expense years, not and does from the significant

good about and ratio Finally, excellent the the stress regarding X of we testing. XX.X%, capital context our credit results equity feel in the strength of Tier management, common particularly our performance of at internal

consider management for and balance to there risk active medium we may of be capital, in term. room the we As capital more near believe the

as current open trends our concludes continue remarks. the questions. This or credit macroeconomic please the improve. Valerie, prepared and line So would long for you

Operator

Stanley. Thank Ken Our from Zerbe you. [Operator comes with Instructions] first Morgan question

line Your open. is

Ken Zerbe

questions Good Great. just I evening, guidance. guys. Hi. Paul, on guess, couple of Thanks. a

but over versus from terms you off the that's NIM run of income just of slightly that that interest versus if growth compression out is balance you PPPs, that much accelerated fee sheet core little in getting possible. the time very driven versus you're PPP touched by core bit the of Can net think break a how terms briefly, I is in increasing. this on stable income

sounds parts it of this like a some little by weaker just bit Thank unsure? you. the held that being PPP and up Just are might core but

Harris Simmons

for your Ken. Yeah. question, Thanks

is try described of outlook we do an the of net absolutely that interest PPP reason to other provide current for volatile. augmenting PPP is factors and be and what what But level somewhat So that, you that can that is excludes exactly because forgiveness our income.

level outlook And growth, the the -- to absolute we're deposit that be was balance what's underlying and which that core income, we loan are to activity going of PPP our interest in we meant said trends as defined by on net going provided loans. to We really as so, also happening in the sheet outlook, the and loan improves, also is growth then believe to rates. which excludes speak

we We are also of yield to course translate of over is will also increased be think interest of that growth rates activity to expecting course an some additive. the We and/or the may continue year, curve the And which loan level next then year. be think expectation economic over there would to the that the additive. steepen

Ken Zerbe

it. I meaningful what some should rephrase obviously and get Got you. around I the incorrectly, one of for question that. PPP? expect of space probably Thank [indiscernible] course biggest but in it my Understood. would PPP be You're should your years mid-cap the pretty over Maybe, stated like, you lenders how, the for the results clarity

Harris Simmons

Yeah.

income fees, program. unamortized things loans $XXX can't all is million yielding can we've PPP a in either mature So of also financials because today net loans into specific X%. on forgiven. over be as related but PPP Those I will of There billion outlined, $X the the our those got amortize see you we've interest recognized or which make to that prediction are of

somewhat a are of the repayment I kind just of to because that those are going And net said, but income, the of a flow interest bit loans. our into upon or dependent those timing little uncertain forgiveness as it's so is that pieces

Ken Zerbe

-- much, hard very it's know that right. it. hard question. I Thank All appreciate I No, it's to Understood. answer to you

Harris Simmons

Thanks, Ken.

Operator

you. Thank

Our next comes of ISI. question from John Evercore Pancari

open. is line Your

John Pancari

see bit color your to want I give margin can a if on more expectation. you

help NII Thanks. what stable of in how set that and you're excluding terms embedded what's to slightly of PPP however, your in PPP, to I margin able kind might or outlook us Just expectation factoring increasing out? guess, that curious differ

Paul Burdiss

and cash take I'll interest just very margin income, impacted focused relative interest is we're that, all This the income, net being your similar for question. like balance the John. have we Yeah. where the response the revenue Thanks to sheet. net gave by on that's significantly to is really

exceeded compression, year, balances. sheet As the last year growth of loan I the the or experienced that's half in XX margin course our we've the by over to that said, of over increase an loan billion balance related $XX and is growth points basis deposit on last about approximately significant. cash growth Of of

done good is. say, the underlying to say fact, is I about in trend rates isn't I margin much that our they And headline will in fallen. as So what have given outcome. the feel nearly the how as where bad, pretty and margin

PPP So from that again a of think is in growth we the loan is then would exclude also perspective to additive. we will our extent, which income. steepen expectation to looking little volume the curve possible be bit And ahead. volatility, a the a trying see is yield also interest here, because that little that net helpful from

it's interest really of that focused net the on. the we're core margin net pieces those income in interest reflected So

John Pancari

the and CETX? where that to How the stand then help type active right that. on I've we comments of, capital potentially Can you currently more All could think XX.X% about at could becoming remind a if upside Thanks. management. right. of what we how you Paul. the it. and there should buyback look clearly, heard us around Got us substantial the should capital you imply you be Thanks, it of program. as think Like, at active priorities on program how could now your separately And front, about much more kind

Paul Burdiss

that I to and and outcome we average the until the ratio the slightly I'll say, that CETX as said than well. will of perspective that his our probably will pandemic we've lower and for that kind believe is of think of we sheet that than risk the we have our Harris start shareholders. lower risk start best us provide average pandemic, better combination up average average consistently Yeah. and with pretty kind on of balance than got a

And can XXX significantly we our points basis CETX see so ratio have CETX that XX% pandemic, to our as from XX.X%. last year, in the is over despite up you the grown fact

further so from median of the And think on or little like that sort sheet. to a our that feels peer performance median is away it me balance to peer we're risk relative getting level we important

term, So Harris over might think the but of be let a sort yardstick, provide I medium decent I'll John, that a that's, few comments.

Harris Simmons

Well, I just my risk assets to XX.X% add a about points. assessment is so CETX I currently that about have is -- by we've that are a down our we and percentage got think and own weighted room billion bring $XX and that

showing but peers of with you relative I today. to So now what a that here, closer happens high as would loan we going the to can year strong on is expect really that and that growth as are profitability go not of kind we'll math, kind timing as through try the the depend back and to do I've to but to work of we something down obviously

John Pancari

Got it. Harris. That's Thanks, helpful.

Harris Simmons

Okay.

Operator

you. Thank

from comes Point. Compass next of Our Rochester question Dave

line open. Your is

Dave Rochester

a a this the front cash. the of isn't Paul, can the bps. deploying just bps lot book, that that cost It's like little purchases. just versus room is, around book on bit maybe as guys. in closer X whole of XX as difference is There with afternoon, your to loans lot the but of maybe new XX seem Good on Hey. basis splitting talked you about securities to the it but outside where yield points. it offset a of magnitude funds pressure frame just back of I it hairs, you in know earlier, low may like

are And the we there? you [indiscernible]. know probably close that I how I over parity was wondering, guess mentioned right. just So to quarter,

on You a little might now? be that bit higher

Paul Burdiss

I'm You the cut then you can but the question end, think I me. correct you there answer at out kind that asked and going to of Dave,

a imagine, seen provide of will to coming XX we're portfolio. volatility loans you off. we've and that of refer past of numbers I back the the to the is securities the little of, trends kind figures, sort that is, what and sort that a on the on I because on the sort lot can although, coming course front quarters. or seeing in plus I'm It's loans and do points but And there So securities loan said, that range book several over reluctant book, as some portfolio as of the of of XX versus in consistent XX basis with the in that's securities what we

So, trend no change there. in

Operator

Thank you.

question comes Jennifer Securities. Our next of Demba Truist from

line open. is Your

Jennifer Demba

Good acquisitions afternoon. and been the There company's look very last interest months, add in companies industry more Could future. over you the several Harris. about have talk Hi, profile to the scale. some the in high deals as

Harris Simmons

Sure.

of the work doing I do anything wouldn't we that some think few I systems I not pursue. to expect that that out just quarters. we're but as are out, count it's complete here and something a that we get out actively trying

moment. I etc. right for we it is find price I is if think -- fit is could interested more right But priority the a at and guess, the not the high right, us it's ourselves, perhaps not

could I of lot interest anything as And economy things some in but future, and to increase significant it increase there, that. in position if we picks in up put happening see a we'd about near if the note rates really don't a be better -- and modest as see us so thinking the much some in expect particular, you

the that's where at I'd I are moment. we So how characterize guess

Jennifer Demba

the Zion of conditions right would it? for transaction if became of interest kind to What be

Harris Simmons

We I today. would have you abundance large community recent smaller of not kind lot we banks a franchise out something has be not that orientation they that there probably are -- commercial commercial that smaller strong I've probably the real here Western times market, of prominently interest our Well, would mean over reasonably some US of it an and -- of for banks that them, not fit there probably that exposure and that be noted would even most would centric very over some profile. in many would are in but look in forms that estate various mid-sized of banks

Jennifer Demba

Thanks, Harris.

Harris Simmons

Yeah.

Operator

of from Our Jefferies. question comes next Usdin Ken

Your line is open.

Ken Usdin

wondering about more Good securities Slide thanks. little if you XX just the a Paul, bit Hi, afternoon. have and about could that sensitivity. talk rate great you interest

So of you now inflows all and that table deposit [ph] sensive of the lot more your run-off. as see a mentioned that I planned to you're swap because

might either side? how that navigate wondering, and to swaps, ALM Just just with incremental what on on doing more how intend forward you the against putting you're you traditional floors going manage adding

Paul Burdiss

Ken. Sure, Thanks your for question.

as out really, So comments. a volume couple to sort securities crazy adding our we're in and terms really of We're there. incrementally not lay traditional duration to tried the of the adding. going We're sticking I of knitting either things, one or prepared in on

maturity as real incrementally the really say on. is that of the the sort into I we adding the on we the of sort keys duration the, of the So to steepened that. the and have what by which curve interest has swap the synthetic to side, are accretive extension Committee of your sort change with rate swaps, is that's discussed profile ALCO in will duration [ph] swaps sensitivity of question, opportunity

yield my focused we I going or duration in liabilities, activity, the in the to average the don't uncertain part the of think part of when duration again uncertain the deposits life the remains or to is know the assets be and so more I terms is that remarks, reason that say what on surge we swap And somewhat the of to much pause will tried I side real sort extent of be, balancing And right. prepared are is that's about I attractive. the been of think curve in has what

growth billion $XX this but interest we've what in of a growth excess our incremental we're to that models, as ALCO's with managers. that's deposit that's is of sensitivity creating in So of level lot and loan of look got some the at skepticism doing. on job

So swaps. size industry added lot either we're duration adding a haven't marginally But we interest portfolio rate or yet. in

security. look activity for would more I ahead, Looking swaps and in

Ken Usdin

six -- how great. in what saw add that's forecast be that, Okay, them to kind it? potential winner ago. money what three into adds I'm would the it today versus potential forward to those what is And months, being the a of swaps Is and getting do are you and clear months built at like that your Yeah.

Paul Burdiss

of much a see very was clearly six or And the months shape can return than profile it in curve. different the today risk that three you It's ago.

there so Now six example, where of much at curve kind no five out see there we the you and the now, that that six last for months is swaps don't almost how beyond carry can on changed months. ago. over point And carry absolutely where years there of go point of curve, was you the there has look

we rates So lower about two, And the the trying say, could duration. rates ago for lower. think much that much some that of we one, against was, on kind let's we six were lower had, at adding paid put weren't didn't issue getting go months to protection or all

a Now more little is if there little for, dollars we're on a is, we're which we're bit every duration active. why will, you getting paid that putting

attention of lot a paying absolutely we're but yet, exciting to that. too nothing So

Ken Usdin

forward -- away that's first And in your guide from of my Okay. forward was I your built got that part into it. it, was

Paul Burdiss

It Yeah. is.

lot the of the the over on and think around we today we of expect continued balance we steepening sheet how of is next isn't speculation sort based there a say the really a curve. know year. -- That balance what how to of I'll Although, change outlook

Ken Usdin

Understood. Paul. you, Thank

Paul Burdiss

you. Thank Okay.

Operator

I questions. And showing further am no you. Thank

remarks. will that, Abbott, I the to back over call turn James of with Relations, Director for any Investor So closing

James Abbott

for look We seeing the you us in to Thank quarter appreciate you and you the XXXX. everyone. with We for call forward speaking you first joining earnings near-term.

any and and take so number to me out any at top you. at the press be you release. of tomorrow reach of Please the Thank forth questions, follow-up are this will questions. to those evening Thank and the with I around If you we just have adjourned. that

Operator

and now and Ladies may participating for this gentlemen, today’s conference. disconnect. Thank you concludes you

Zions Bancorporation, National Association (ZION) 20 Apr 212021 Q1 Earnings call transcript