Zions Bancorporation (NASDAQ:ZION) Q2 2020 Earnings Conference Call - Final Transcript

Jul 20, 2020 • 05:30 pm ET


Zions Bancorporation (NASDAQ:ZION) Q2 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Ladies and gentlemen, thank you for standing by and welcome to Zions Bancorporation's Second Quarter 2020 Earnings Results Webcast. [Operator Instructions] I would now like to hand the conference over to your host, Director of Investor Relations, James Abbott. Sir, please go ahead.

James R. Abbott

Thank you, Latif, and good evening everyone. We welcome you to this conference call to discuss our 2020 second quarter earnings. For our agenda today, Harris Simmons, Chairman and Chief Executive Officer, will provide a brief overview of key strategic and financial performance; after which Ed Schreiber, Our Chief Risk Officer, will review the condition of the loan portfolio, the allowance for credit loss and the way in which we are engaging with our customers during this period of economic disruption.

After Ed's comments, Keith Maio, our Chief Banking Officer, will provide detail regarding our participation in the Small Business Administration's Paycheck Protection Program, as well as progress made in the mortgage banking division. Paul Burdiss, our Chief Financial Officer, will conclude by providing additional detail on Zions' financial condition. Additional executives with us on the broadcast today include Scott McLean, President and Chief Operating Officer; and Michael Morris, Chief Credit Officer.

I would like to remind you that during this call, we will be making forward-looking statements, although actual results may differ materially. Additionally, the earnings release, the related slide presentation and this earnings call contain several references to non-GAAP measures. We encourage you to review the disclaimer in the press release or the slide deck on Slide 2 dealing with this forward-looking information and the presentation of non-GAAP measures, which apply equally to this -- to the statements made during this call. A copy of the full earnings release as well as a supplemental slide deck are available at zionsbancorporation.com. We will be referring to these slides during this call.

We intend to limit the length of this call to one hour. During the question-and-answer section of the call, we ask you to limit your questions to one primary and one related follow-up question, to enable other participants to ask questions.

I will now turn the time over to Harris Simmons. Harris?

Harris H. Simmons

Thanks very much, James, and we welcome all of you to our call this afternoon. Beginning on Slide 3, we're about four months into the economic effects of the pandemic, and we felt that it might be helpful to provide our assessment regarding areas of strength and areas of weakness.

My summary comments here should help frame the rest of our discussion today. I have a very strong belief that strong [Indecipherable] instrumental in building strong communities, and I think the evidence of that has perhaps never been more current than what we've experienced during the past four months since the pandemic took hold.

Speaking not only of our own institution but of the entire industry, it's nearly miraculous to me that we could also quickly and dramatically alter how we work employing technology and working from home and still deliver unprecedented amounts of