Zions Bancorp (ZION) Tops Q2 EPS by 3c

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Zions Bancorporation Reports Second Quarter 2015 Results

July 20, 2015 4:10 PM EDT

SALT LAKE CITY, July 20, 2015 /PRNewswire/ -- Zions Bancorporation (NASDAQ: ZION) ("Zions" or "the Company") today reported second quarter net income of $14.0 million and a net loss applicable to common shareholders of $(1.1) million, or $(0.01) per diluted common share. During the second quarter, the Company sold the remaining portfolio of its collateralized debt obligation ("CDO") securities and recognized a one-time pretax loss of approximately $137 million, or $0.42 after-tax per diluted common share. Shareholders' equity was not adversely affected as the loss had been previously recognized in accumulated other comprehensive income ("AOCI"). Excluding the loss, net... More