Zions Bancorp (NASDAQ: ZION) reported Q4 EPS of $1.08, $0.03 better than the analyst estimate of $1.05. Revenue for the quarter came in at $723 million versus the consensus estimate of $713.64 million.

Link to Q4 PDF

Harris H. Simmons, Chairman and CEO, commented, "We're pleased with the Bank\'s performance in the fourth quarter and for the full year 2018. Quarterly earnings per share doubled to $1.08, compared to $0.54 a year ago, while annual earnings per share increased 57% to $4.08 from $2.60. Although a reduction in the effective tax rate contributed significantly to the improved earnings, pre-tax pre-provision net revenues increased a strong 13% for the quarter even after excluding a $12 million one-time charitable expense a year ago, and the efficiency ratio improved to 57.8% from 61.6% in the year-ago quarter. Credit quality was exceptional, with net credit recoveries of $8 million and a 39% reduction in nonperforming assets from last year\'s fourth quarter." Mr. Simmons added, "We are especially pleased with both the solid loan growth and the continued strong performance of our deposit base. Despite four federal funds rate increases over the past year, average noninterest-bearing demand deposits increased slightly, and averaged 45% of total deposits for the quarter, similar to the year-ago period, contributing to a 22 basis point increase in our net interest margin."

For earnings history and earnings-related data on Zions Bancorp (ZION) click here.