Zions Bancorp (NASDAQ: ZION) reported Q1 EPS of $0.61, $0.07 better than the analyst estimate of $0.54.

Harris H. Simmons, Chairman and CEO, commented, "While we are pleased with the strong 61% improvement in earnings per share over the same period a year ago, results relative to the fourth quarter of 2016 were muted due to lackluster loan growth, a condition which has recently been prevalent throughout the industry. Although we experienced a single loan loss that comprised nearly two-thirds of total net charge-offs during the quarter, credit quality was generally strong and improving, with classified loan totals improving by 7% relative to fourth quarter results." Mr. Simmons concluded, "While operating costs were seasonally higher, we remain committed to a continued focus on expense control and improvement in our profitability through the remainder of 2017 and beyond."

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