Zions Bancorp Profit Falls Mainly On Higher Loan-Loss Provision - Quick Facts

(RTTNews) - Zions Bancorp (ZION) Monday reported third-quarter net earnings to common stockholders of $79 million or $0.40 per share compared with $209.7 million or $1.12 per share last year.

Results for the 2014 quarter included debt extinguishment costs of $0.14 per share, net losses on sales of securities of $0.06 per share, offset by reserve releases of $0.22 per share.

Analysts polled by Thomson Reuters estimated earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income for the quarter was $416.8 million compared with $415.5 million a year ago. Noninterest income was $116 million compared with $122.2 million last year.

Analysts estimated revenues of $543.7 million for the quarter.

Provision for loan losses for the quarter was $54.6 million compared with $5.6 million last year. Also there was a provision for unfunded lending commitments of $16 million.