Zions Bancorporation (ZION) Q4 2019 Earnings Call Transcript

Zions Bancorporation (ZION) Q4 2019 Earnings Call Transcript

For our agenda today, Harris Simmons, chairman and chief executive officer, will provide a brief overview of key strategic and financial performance figures, after which Paul Burdiss, our chief financial officer, will provide additional detail on Zions' financial condition, wrapping up with our financial outlook.. Also shown is the adjusted pre-provision net revenue, which already excludes the impact of $37 million of noninterest expense related to severance and restructuring charges.. We've tried hard to respond to a rapidly changing business environment, really an interest rate, competitive environment.. One of Zions' strengths is its sizable portfolio of noninterest-bearing deposits, which account for more than 40% of total deposits.. The cost of deposits declined six basis points, which equals a 12% linked quarter improvement relative to our third-quarter total cost of deposits.. Our nonperforming assets plus loans 90 days past due expressed as a percentage of loans and other real estate owned at 51 basis points was four basis points lower than the year-ago period.. We continue to make solid progress, notably in small business and consumer digital account opening and small business and mortgage digital loan application processes.. I'll begin on Slide 9, which highlights two measures of balance sheet profitability,