- Earnings call transcript Q3 2022

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Operator

Greetings. Welcome to Zions Bancorp Third Quarter Earnings Conference Call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to Ryan Richards, Corporate Controller. Thank you.

begin. may You

Ryan Richards

Controller. and attends conference may Sherry, will during earnings. making We you would call remind the welcome name James to materially. deck to of release forward-looking Thank deck on like some as release We copy results Abbott X, to to good call, family actual to discuss this the disclaimer be this the Corporate I'm the press the and as you non-GAAP well with although call Ryan as the quarter that review applies would A equally of our zionsbancorporation.com. to we like is or excuse statements statements, he you, today Richards, forward-looking the evening. presentation We to available XXXX you differ which My information I are slide third business. at and dealing on made earnings encourage measures, call. in during slide the Slide this

our President Harris Officer. remarks, Risk Simmons, Operating Chief brief remarks, Paul Chief and Scott Keith will Maio, hold Officer; a Chief will we Executive also are Officer. After us today session. results Officer; McLean, Burdiss, Morris, Michael Financial prepared agenda With Officer, our review by and opening Chief Credit by a Chief followed our and XX-minute provide today, question-and-answer For our of financial Chairman

Simmons. questions. questions will Harris limit other that your request primary enable time participants we Q&A, During the over now to I one follow-up ask and you to one turn to to question

Harris Simmons

our Slide that We've welcome to be you, to laid much, out very likely the horizon. applicable all are over as call. in are that of quarters designs particularly thank near-term you themes recent Thank as those to X. prominent you some and on Beginning well and Ryan,

greater rising that rates, our net asset-sensitive is and detail, income. First, discuss balance interest in as our sheet seeing we're Paul in will benefiting from

increase pricing is upper in X% basis spring market rate about futures the the know, about by target an fund's points. a you As of Fed XXX or 'XX of

during costs modestly. funding Our increased the quarter

remains among group. it banks our peer However, within lowest the of

on have risen annualized deposits during more downside TRID. our through allowed a quarter. billion loan outperform moderating been standards growth PPP, Exclusive primarily the over rate-sensitive $X.X allowing highly swaps loans most of past decade. As underwriting risk the of that X.X% metrics We've to maintaining in peers increases, and to strong Zions achieved and asset our or important same increased rates have we've credit the sensitivity some while period-end

have growth In in properties, much estate, rate can in that has that owner-occupied of rate our the real peers. riskier a five the over portfolio at remainder years of categories We and the past restrained than than of become a particular, less environment. our grown half slower excluding recessionary commercial

growth next The will balance the rates we several over loan next growth flexibility. believe than the been economy portfolio the higher slow slowing quarters, Although has last sheet of likely a few stronger we and is expected theme quarters. effects over

deposit positioned greater search our the general. growth sheet in than industry the somewhat peers During experienced We these deposits. most the the manage pandemic, we of outflow to of eventual balance and

running loan-to-deposit in we to at pandemic, whereas low XX% the ratio range. a XX%, have We XX% prior were the to

positioned which total cost us simple points a substantial of being cash a fund Our and this peers. allowed capital in to that our quarter luxury recent the of well and loan predictable prone our XX of strong years flow of of reflected stronger cash prepared this best to XX-year that basis is rates the materialize that that pre-provision liquidity our position our interest structured very net may pass-through prioritize used been at able over particularly the more of this quantity. rate pandemic, among result of as recession is relative quality provide deposits, deposits of to higher has revenue concentrated our the was believe risk to that Exiting And are securities a in for our quarter And of has any We with is less strong types than balance securities. the portfolio profile loss. loan are sheet, given mortgage-backed in growth been portion fact loan the much we flow growth. to

PPP X% results, about pleased interest are you'll of generally increased there, quarter. growth the on financial revenue Those summarized rates a expense to slide. increased excluding annualized. about that net revenue with PPP, And not the if XX%. Turning increase see adjusted income, Slide XX%. Circled was was the increase. net are XX% this which to And We're excluding relative equivalent prior Adjusted pre-provision X. quarterly taxable it

to attrition. And when Our strong for deposits rate-sensitive attributable was credit quite metrics previously adjusted are very and experienced additional relationships, clean. more large forgiveness. loan growth some deposits as noted, particularly, most PPP All

noted loss share per an reserve bottom of left significant contributor probability of the X. contributed share less $X.XX. to the quarter, the Interest seen the slowdown. that to Moving PPP down per added Other right on income. share earning per Comparing economic difference second provision by variance the increased at and in continued customer-related reflect second assets the in rate $X.XX can share be single the as now significant quarter improvement page. performance the driven revenue effect as is loans third The on side $X.XX on changes much from a to from share earnings the items to strong Slide the a for credit interest $X.XX was income was chart noninterest quarter. Diluted negative we are per most per earnings from loss the of affected

to Turning Slide X.

preprovision Our are which the deck. third or must gain was quarter securities, revenue pages adjustments press eliminate in $XXX loss the and on release adjusted the The slide of million. notably shown the latter net

period. direct expense. These portion the top only $X from loans, contributed the Exclusive the column XX% I'm to million chart, Burdiss, Paul? PPNR quarter. going related second additional Chief the an provide With external detail of performance. of experienced to our Paul ago overview, each to net year we services increase received over we've financial our Financial PPNR ask revenue the PPNR in to Officer, high-level of adjusted professional Within loans in denotes that of PPP PPP income,

Paul Burdiss

Average of included you, the commercial everyone. interest Thank compared A loan as the loans us in loans is I'll In The points XX. and yield this on in prior Average million evening, and highlight average good loans strong appendix Areas second to when $X.X residential industrial, which increases quarter on seen to and Harris, billion $XXX $XXX for quarter mortgage strength Slide average X. can or growth. begin X.X% consumer increased quarter. on both was significant non-PPP commercial performance Slide attributable declined the to XX PPP construction basis increased be million. the rates. in primarily and from

the total remained loans, costs our Shown XX PPP of cost from loan third the Deposit quarter low. XX That's to on deposits. quarter. increased X from the in the rose Excluding basis improved basis yield right, but points during X.XX% of points to X.XX%. cost deposits

or average declined quarter. Our X.X% billion linked $X.X deposits

to turn our size. deeper changes, deposits For please we volume by deposit X, break Slide insight, into where down

since some see decline our the you XXXX on deeper when accounts. Digging rates come As come into is the majority In the our XX this differential still costs below our sheet. the Where funds loan possible, have large deposits, can paid in the chart holding a of well with relationships relationship just of these $XX to third experience, level points customer sheet shown managed balance $XX actively about has while of most the relationships in than deposit less balance balance that our Therefore, remains created pandemic. large under in deposits very Combined deposit ratio the clients operationally products of from with keeping off basis comfortable maintaining sheet. managed. move for to the to year. widening Contrary are and with million balance runoff, million the low been us our increase the from the less stable our which holding deposits have activity with here, XX%, prior investment sensitive. quarter's has other we active deposits beginning faster-than-expected compared trends on these rate off-balance deposit products in the into growth, incentive these loan-to-deposit large rates the an dollars deposit to generally

above we securities portfolio adjustment remains XX% X, assets The of fair show $XXX purchases combination repayments at size value the $X to and new no securities our Slide billion is by XX%. market of to pre-pandemic driven about previous investments portfolios of over declined Moving the an quarter, earning last the total now end, million. period investment the money quarters. market average of securities five over which by and of money our The and security

anticipate market money we and marks, combined securities near value that fair investment over continue decline will to term. the Excluding balances

Our balance primarily revenue sheet is driven.

interest margin of of quantify XX% the assets. of our on both. right-hand XX the rate on reflects XX the quarters from margin earning trend impact information X-quarter side terms and emergent that that rate of The left interest interest a we reflects Due toward Slide assets income. interest income net higher-yielding margin. about rates, for changing in the recent an provides income sensitivity in interest introduced the the white environment, rapidly recall revenue these page. Net net interest last on to last trends bars net net while latent rate and remixing the X interest sensitivity. quarter, We the attempt the both comes net also interest is boxes loan quarter, Slide growth of overview the our to the higher on chart and This interest sensitivity. interest the shows

the and interest we'll add to were XX% rate of XXXX. and income our third third the term in Regarding when quarter sensitivity, the September to XXXX approximately XX, in changes balance statement quarter income our through net that near work of as of compared over place sheet latency should

our of which increase interest over to if the deposits, continue and combined X% and from as of we with year. the net in is to forward points yield XXXX expected has the respect emergent latent expect sensitivity. sensitivity, an This the emergent curve denominator. quarter decline of forward consider reflects to interest would only and rate XXXX, third by these percentage interest defined quarter rates, traditional additional of XX% income sensitivity forward the move net Fed measures in figures. our Both The the an addition a in with the in net path higher and emergent loan continued to basis rate XXX we deposit be volume our XX, income summary, path when accordance recent changes in rate were latent interest about change to third rates increase at rate materialize, the increase be With investment compared beyond Regarding growth in to and from changes and estimates, September as the disclosures, the in parallel from income declined pricing interest interest year. another X that flat and remain and basis the would interest of expected and that to sensitivity, risk expect portfolio for maturity percentage point other deposits swap about risk funds a reprice included quarter interest loan rate In will that assume estimated would net coming nonspecific eight rate. target to the earning narrow second our growth while and add income shock example, portfolio in points assumptions. interest XXX interest to In latent increase manageable the assets in interest which sensitivity attrition words, interest modeling beginning time rate point to will

of Moving Slide million, revenue and income XX. and prior the quarter noninterest noninterest year. $XXX on increase income the X% over was total X% over to Customer-related on an prior

XX% modified fee the third in in funds XXXX PPP quarter. of right income stable. As from with we or sum slide, to net of of income quarter, quarter, and current have the changes which by beginning broad-based. Improvement fee the overdraft produces noninterest nonsufficient revenues side customer-related grew reduced deposit interest customer-related million about the products of from income associated quarter third income we outlook income. excluding our when combined the an are the $X the our and Revenue And fairly noted of XX% prior outlook July, noninterest ago compared our in by with the up increasing that near the year revenue in customer-related practices over The noninterest quarter's income, same by slightly period. shows in a grew when

XX measure client Noninterest continue to from of second quarter benefits to expense additional primary grew Salaries this drivers and the and interest $XXX over and prior coming We impact to the X% quarter an rates include on improve in activity The Slide compared expect quarter. million. $X the the positive million. extra quarters. higher increased staffing the the day to by

We but inflation, several continue impact showing of to feel other is expense smaller which the in increases numerous in categories.

outlook increase by when to Our is XXXX XXXX. third compared the moderately quarter expense adjusted to noninterest of for the third quarter of

Another the points allowed from the on to levels. a to criticized we Slide in quarter healthy the X quarter compared of the X to million million, was balance of quarter. in best very loans XX loan than growth of the to ACL strong prior described quarter the increase the XX. in be trend from continued past the several ACL on - classified highlight systemic credit or quarter. $XX for be basis continued linked points our the average ACL, at quarters. At loss $XXX loans the losses. improvement as prior of across over was only details losses, Slide to end buildup was Notably, the quarter, the to loans. sorry, unique existing could the points the basis Relative in second increase prior can for XX the or of theme half illustrated charge-offs over quarter portfolio, rent Net saw nonperforming and quarter this as are X and quarter, X.XX% and remaining up increase quality loans, the ascribed non-PPP up loan our improve third asset the average situations basis classified ratio I'm A with portfolio. little non-PPP of points common ratio rather loan rate a the losses from Credit attributable basis reserves continued to recent

Our size and ACL reflect the and portfolio evolving composition continue our will to loan forecasts. of macroeconomic

shown the the XX. as in in common operating the CETX balance third position We fell aligned absorbing repurchased capital the is risk is We $XX position million quarter. sheet bank. loss on X.X% retained quarter loan capital strong that The earnings. third stock and Our Slide ratio our believe growth with outpaced of of to

actions of such, reminder, this our Board to and made dividend announce decisions coming Friday. conjunction expect quarter a fourth are As for repurchase our share as by Directors, regularly capital the in we any and meeting with scheduled Board

Our above ratio financial goal Slide summarizes continues profile. this that CETX capital outlook or provided below-average a to course be while will over XX remain the median at peer to of risk presentation. the slightly the managing

our XXXX. reported normal remarks. the you prepared please represents this the of our of to financial best current concludes open quarter for quarter in as The quarters and for questions? XXXX would This third As subject outlook estimate in actual performance compared the results a to the seasonality. line are the reminder, between third for Sherry,

Operator

Evercore first Our with Instructions] is John from Please ISI. question [Operator proceed. Pancari

John Pancari

get - afternoon. make want your I you and I On Paul, year? in expect guess, made and comment sure emergent as growth believe correctly. I with increase expectations can you on understood the coming I your could if balance not? Or it just outlook, to NII it Did sensitivity Good just well you I - you if a considering NII clarify as that sheet to that emergent latent the right?

Paul Burdiss

higher the of sensitivity, net be that a expect the to income did than specifically, just approximately quarter. we combined, latent XX% And from quarter, the hear due emergent in current now, interest said and to year You effects correctly. I would

John Pancari

Great. terms helps. All then That you. And Thank Okay. right. of... in

Harris Simmons

impact balance of Excludes sheet the growth. any

Paul Burdiss

to Yes, loan growth would correct. add that. That's

John Pancari

Would add to that. Yes. Got it.

in Okay. think XXXX us XXXX? in loan growth how think And that few - growth indicated slow help versus the moderation prepared loan you on I about on about that the areas maybe what should growth topic, in And you developing? see you Can quarters. that remarks to you know we do your expect over next

Harris Simmons

residential clearly, are family mean take slowing. originations a X-X I'll stab. Well, I

that going commercial expect to slowing We higher environment. to see real I as would well. a in down expect we're be that in estate rate

as - So you'll depending see terms demand seeing see of loan the natural loan and economy going a growth. commercial not that and slows, environment well. on healthy But in we're far, we're we that, the that's pretty just that rate activity still when be how just outcome is think we'll higher to in

out. those plays fix a how good really - - don't I So are exactly couple I It's we any it thoughts. on just of have think directional.

Scott McLean

Scott. that, focal history is our of have the or to John, in two quarters I three coming points in that in we're just really biggest - areas - this been growth, for are off would add loan of terms I would all just that of our lending.

and to decrease we record coming it's loan I any serious for that well sort so, will And growth think feel focus - would still decrease, trying also a mid-single-digit heard that create say recession. on really we're And but our concept, highs. you've that of years, would us just look like barring basis. kind say that I model we pretty that comfortable off a of on of that works with

Operator

question Please Bank from with Ebrahim proceed. is of next Poonawala Our America.

Ebrahim Poonawala

beta that do about you or you your do you the of you're expect? about up NIM positive And of to XX% afternoon. Good higher that terminal within in thinking peaking outlook 'XX, I as the as about about year-over-year. when of think trajectory all we and as maybe following of you NII guess in terms terms that think sort see about 'XX as think talk of it's But the us NII think Paul, what's just thinking to lifting assumptions? we

Paul Burdiss

Yes.

interest including really there to words to of assets. margin, my into there I'm respect choose composition that, carefully many things with the the of that sort earning net are so going So go because

interest our of on been income, has at indicate an as acceleration cost expectation deposits So of would and or our modeling of noted, where sort focusing low. even they're exceptionally with all-in net - deposit betas deposit that remained from

deposit improve. So particularly really combine to repricing. latent as even we this loan growth, we net and driven sensitivity with with to earning a continue by income emergent little to be are we such, that And rates, if asset interest pickup in overall expect would expecting

quarters you a Now our four of based that good we get will I through year. growth. can third fall think next pretty on indication of goes where But out next outlook only quarter continued the outlook think of year

Ebrahim Poonawala

And of just terms liquidity. I the surge balance referenced Understood. to your think that, tied a of some deposit the you mentioned, speed What's you fair exit the growth and obviously, deposits sheet? which in at might expectation of amount

Paul Burdiss

Well, the deposits. surge really we use don't term

measure to those you of years your pandemic, that sort speculative and response rate-sensitive were in this from is and rate call accounts. the sensitive reminder, is looking that something the - I'll do, some a nature And prior those sheet. insight. comment, of the the our $X two more equal, loan-to-deposit of about a As of grown the that's deposit to - would however, XX%, mark. about have That which place - sort If high-XXs, billion would somewhat accounts, Those deposits monitor comfortable within have most churn, the activity profitability back were to XX% at outflow. question, would but we they pre-pandemic take all churn, a things to probably it, the ago, from called close I deposits we on high-water fall XX%. the a look so are rate most churn from of to If try of perspective. of a about lowest lowest be when our sort we the to operating And very accounts. ratio perspective to at meaning sort very, is my the Those of balance to place liquidity which the the the provide at sensitive if say another down to grown XX% sort from

Operator

is next Rochester from Our proceed. Compass Dave Point. with question Please

Dave Rochester

guys. Hi. Good afternoon,

from here, swaps we plan do way? or that guys another you to up want end hedging and the it asset where sensitivity On up using wrap go on about

Paul Burdiss

Yes.

take I'll So this is Paul. that.

interest - downside. the trying have several a been quarters earlier as actually, began Committee ALCO we're this to We year, rates start ago, the rise, program protect to hedging against

the asset but to we the We'll sensitive. on, our determinant sensitivity our to of So continues continue behavior be deposits. swaps put asset remain of biggest

fall of that so, expectation asset not ultimately end or will not But And bit. we're behavior my of deposits or of asset to determine liability at is sort a whether day, modestly continue sensitivity will the sensitive the the our modestly little sensitive.

from be our a will little neutral going it's to think behavior get I here. But closer dependent we again, of on to highly deposits.

Dave Rochester

follow-up. just concerns ratio differently that or then appreciate doing going about decision to at are to here buybacks forward? I you differently Okay. from or need ratio reduction And TCE a the impact rates the perhaps of TCE the all? quarter? following maybe impact that. And Any do Anything your higher the on does this the level TCE on you reduce

Paul Burdiss

- and part to reflect in its about the of we've it market buyback, in take the ratio believe, We We last managed would organization to think first. the TCE to With respect test respect that balance one managed I The accounting, believes because balance with portfolio. only I rest the asymmetrical we the really sheet when say, components. talked balance does to the the manage nature of previously, to stress of small cannot results value, not sheet the sheet capital. but in which I small risk we the that buyback, and relative regulatory the is that, question individual managed entirety. I'll marking

TCE it's And our sheet value, not balance the really not highest priority. does so reflect because ratio the

in accounting-related anything And that of of take any mitigate to kind we such, that action artifact. as accounting we is friendly all nature. probably - However, this would also being an said, be

Operator

Usdin question Our Ken next Jefferies. with is Please proceed. from

Ken Usdin

side. the wanted just I Guys, afternoon. to expense ask Good on Thanks.

as your salaries make the incentives. you're and us adjusted and like can basis, kind of you the And outs year-over-year sequentially the on coming forward be help just call of comp and magnitude wondering, just incentive understand would higher I'm earnings about just I think, is to from. corporate moderate of just the understand the year-over-year there, XX% like growth for is how understand to magnitudes looking helpful you and both expense up that So inflation. look breakout, another us help increase, where hires versus much the growth. Any

Paul Burdiss

Yes.

So the by of our two-thirds driven expense employees. are

benefits. some so is of And this employee

bit of largest it's incentive a in of Some part salaries, is little comp that it. is the probably not

So to then the over on attention - feeling time, my pressures total expectation, the the employees two of expense are pay to largest factors number the overall expense. and inflation we're

a in are to So in is potentially you're to somewhat said, invest modest, the being a it's to us - some our slowing we continuing environment. of that all business, but level continue of kind see important going overall into employees. that we which But we why growth

Ken Usdin

a to expense relative peers. seems a just as rate high rather it be to guess many I follow-up,

just going offsets other to find? do you're But the future? to terms the of just have that the or to so continue invest. funding the I Company needs for it outcome So this is some you of more, NII increments its spend know to you is can in

Harris Simmons

our than business. been a One really We're are were up ramp places time, focus up Paul up of just commercial add one there we've sheet on had up which opportunity been We've over equal. variety where I last capital And created ramping to markets XX% all had do with year. estate, said we've cybersecurity the equivalents some mean, we've hires of particular had that FTE, that there - more starting full-time the to we've would area. had We've a things real about that been accommodate. building to we've to not the in costs that is the adding, of - over we're balance business I staffing in what

in areas. mean, there see to some are of - of these expect like we're don't to pace pockets kind that that. So growth continue the of I areas I going

And more that. - going experienced particularly I be compensation, very it out senior in people, going also so that's of helpful environment I like think forward. and people a for terms to But remains competitive there technicians, -

we're this compensation. of still seeing lot where into that's in thinking pressure So we're inflation - year. a going next still It's

Operator

Milsaps is our Brad And next with question Sandler. proceed. Piper from Please

BradMilsaps

Just quarters, question. two guess, have I XX% a so. follow-up expenses been up on Ken's or the last

nomenclature. moderately kind with stuck You of increasing the

of kind of that into but year? And kind curious, of is to the kind - path about to the the means, out don't stick level vis-a-vis of we think that of number go moderate next as that does still of kind sort right just of kind down XX% Just I what look moderate - want label?

Harris Simmons

Yes.

has expect high I been be think the it I the of But out year. be we year-over-year wouldn't this see to side as year. expect to we get what kind it past to another I on don't it XX% into next expect of digits. mid-single - it's

Scott McLean

as would comment what be increase we'll that's live, core in into and Harris' inclusive an goes fact built cost final our the that related to And release that, of suggesting. that future have he's

BradMilsaps

the as forecasting you kind about just viewing just viewing little economic model hoping would of And in sort can you're of - you're of quality, get of how asset terms kind and helpful. my guys world CECL your how an very are love things. you your of bit kind talk update maybe to That's where on you. on follow-up, guys a Thank just

Paul Burdiss

the and - as kind credit for within described, the you've the Well, our outlook. on allowance CECL-based heard prevailing trends the previously portfolio credit of sure then has macroeconomic based loss is I'm and been

i.e., things I tilting to we say from at. severe - to are expect deteriorate modestly it's that Our outcome, toward think i.e., fair we they're where a more less potentially moderate,

key credit end however, the those impact driver the time the macroeconomic that's allowance will credit think the of the in of kind point quarter. losses at I our time, today. for at for Over forecasts of loss absolutely allowance

Operator

Demba from Securities. with question Truist Jennifer next Please is proceed. Our

Jennifer Demba

third Thank afternoon. the from if more during your two on but just I'm that apologize, charge-off give curious you. the credits this I you increased quarter? some Good can net I us detail I'd missed the model, level

Harris Simmons

Yes.

think I our those Officer Michael, Credit talk couple you Chief credits? do Michael want about to we of have Morris, around.

Michael Morris

that categorize We And we'd Sure. $XX couple million of unsecured cash going Sure, find commercial range to you're the thematic them, type Harris. really Jennifer. one-offs. didn't in on if Hi, probably $X them the would a to say loans flow I anything side. million there are call

You there but in issues both out nothing different book. in some of could and they're drivers chain that or loss COVID ways, argue systemic them loss came supply thematic our of were on

Harris Simmons

one like and mean specifically, about one I something was X, that. XX, was about I think,

Michael Morris

Right.

Jennifer Demba

much. so Thanks

Operator

KBW. McGratty question Chris with proceed. is next Please from Our

Chris McGratty

Paul, you off? the also, bottom Could quarter, but mean, yield the that? you rolling type portfolio thought the will would investment much will where yields. went Great. what stuff any yields cash get I how would throw great. not that that's that compared but a a of up to the your you're this said off a on monthly off remind bit there Thanks. of anything, little book to portfolio. And and more trying comes buying cash flow I question think have be color I just sense us of

Paul Burdiss

was the deliberately this extension but - portfolio risk, say of as that cash in terms to to And the it relates possibility - quarterly to the is was it present risk of is specifically extension designed to flows. cash deal with The Yes. flow, we kind limited. of

quarter And so, so. the $XXX has off relatively million consistent portfolio about cash or at coming been by flow the

Chris McGratty

you the also, Thanks. and I rate the just a follow-up, that duration cycle of the you you're assuming? you about And asked Ebrahim remind what us Okay. think could data. Could full And borrowings had? then provide as

Paul Burdiss

generally asking. got The think we've remains short. some So it other repos of yes, because funding. of think, the and funding - yield - relates I as you're the short on you of But It's you about - what the can is see things. is the you're - duration the it side, to transparent relatively asking And I pretty that, the statements. can on financial face

Chris McGratty

did you're for? you full Okay. cycle have deposit Great. beta And assuming that the

Paul Burdiss

Right.

it it's - it slide, was up. that's that Yes, - think is sorry. Sorry, need XX% actually pull I our on to I

Harris Simmons

so been erode, far. model the using certainly and emergent kind XX%, where north of of XX% latent it's models. using XX% XX% that

suggest kick to up. So

Chris McGratty

you have the it's disclosed did sorry have cycle? over what really you're But drill you - far? - you so to full been here, just low assuming Obviously, in but

Harris Simmons

No, we haven't.

curve. that out I of the shown months, next not projecting over forward full think cycle. the given only the We're kind we've XX

Paul Burdiss

on look would of earnings encourage where some footnote the to the around Yes. there's incremental Slide at I presentation disclosures XX you that.

Operator

That closing concludes comments. would I like Ryan conference our question-and-answer session. for over turn to back the to

Ryan Richards

Sherry, for you, and today. us all Thank thank joining you

Thank please for on us If e-mail your listed throughout phone you website. This additional questions, coming We have months. the connecting interest Zions forward or call. Bancorporation. look in our to at our the concludes with you you contact number

Operator

This concludes you. the Thank conference.

disconnect may You time, participation. thank your for your this and lines at you

Zions Bancorporation, National Association (ZION) 25 Oct 222022 Q3 Earnings call transcript