The following are recent financial reports as posted by selected Utah corporations:
Zions
Zions Bancorporation, based in Salt Lake City, reported net earnings applicable to common shareholders of $125 million, or 60 cents per share, for the fourth quarter of 2016. That compares with $88.2 million, or 43 cents per share, for the same quarter in 2015.
For the full year 2016, the company reported net earnings applicable to common shareholders of $411.3 million, or $1.99 per share. That compares with $246.6 million, or $1.20 per share, for 2015.
Net interest income increased to $480 million in the most recent quarter, up 7 percent from a year earlier. Noninterest income for the quarter was $128 million, down from $145 million during the 2016 third quarter. Pre-provision net revenue was $212 million, up 21 percent year over year. Net loans and leases were $42.6 billion, up from $42.5 billion in the 2016 third quarter.
Total deposits increased to $53.2 billion, up from $50.8 billion at the end of the 2016 third quarter.
Zions operates under local management teams and unique brands in 11 states.
“We are pleased that our full-year 2016 results reflect solid performance in revenue growth, tight expense control, and strong growth in both pre-provision net revenue and earnings per share,” Harris H. Simmons, chairman and chief executive officer, said in announcing the results. “We are encouraged to report that we achieved all of the stated financial goals that we outlined in the spring of 2015 for this year, including holding adjusted noninterest expense to less than $1.58 billion and achieving an efficiency ratio less than 66 percent.
“We have done this while simultaneously making a very substantial investment in technology that we expect will allow Zions to be both more efficient and more competitive for years to come. We look forward to 2017 as a year that seems likely to experience reduced credit costs as the energy industry continues to heal and the credit metrics for non-energy loans, which constitute about 95 percent of our portfolio, are strong and generally stable.”
HealthEquity
HealthEquity Inc., based in Draper, reported net income of $6 million, or 10 cents per share, for the third quarter ended Oct. 31. That compares with $4.1 million, or 7 cents per share, for the same quarter a year earlier.
Revenue in the most recent quarter totaled $43.4 million, up from $30.6 million a year earlier.
The company is a health savings account (HSA) non-bank custodian.
“Our third quarter results continued to build on our record-setting year which has increased total HSA members by more than 776,000 since the end of the third quarter last year,” Jon Kessler, president and chief executive officer, said in announcing the results.
“Total AUM (assets under management) has grown by nearly $1.6 billion, or 59 percent, over that same time frame. The growth in these base metrics of our business has driven a consistently strong performance from all three of our revenue streams. Our year-over-year revenue growth of 42 percent in the quarter continues to outpace the industry, and our adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) growth of 47 percent demonstrates our ability to continue to scale profitability our business.”
