The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Broderick Dyer Preston - UBS Investment Bank, Research Division - Analyst
: I wanted just to follow up on the fixed asset repricing commentary. If I heard you correctly, I think you said it was 5 to 10 basis points
a quarter positive to the earning asset yield over the next couple. I was hoping you could maybe unpack that a little bit for us and
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OCTOBER 18, 2023 / 9:30PM, ZION.OQ - Q3 2023 Zions Bancorporation NA Earnings Call
say what are the assumptions driving that? Like what's the amount of loans that are repricing over the next 12 months? And what's
the back book yield that's coming off versus new origination yields?
Question: Broderick Dyer Preston - UBS Investment Bank, Research Division - Analyst
: Okay. Understood. And then I wanted to switch gears to credit. I had a couple of generic questions and it was a little bit more pointed.
Just I was hoping you could tell us what portion of the loan portfolio were shared national credits? And of that, what you'd lead on?
And then I also wanted to ask on the nonperforming assets, they increased $68 million, and you called out it was due to 2 suburban
office loans. I wanted to ask what geographies those were in and what drove those to nonperforming.
Question: Broderick Dyer Preston - UBS Investment Bank, Research Division - Analyst
: Got it. Do you have the Shared National Credit data?
Question: Broderick Dyer Preston - UBS Investment Bank, Research Division - Analyst
: Okay. Just to clarify, was it 10% to 15% of the portfolio is SNC. And of that 10% to 15% you agent?
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OCTOBER 18, 2023 / 9:30PM, ZION.OQ - Q3 2023 Zions Bancorporation NA Earnings Call
Question: Broderick Dyer Preston - UBS Investment Bank, Research Division - Analyst
: Okay. And just if I could sneak one more, just on the retenanting of some of those office loans...
Question: Broderick Dyer Preston - UBS Investment Bank, Research Division - Analyst
: Okay. Great. That's helpful color. Could I just ask one last one on those office loans with the retenanting, did the slow kind of
re-tenanting process caused like the debt service coverage ratio to go below 1 or anything like that?
Question: Broderick Dyer Preston - UBS Investment Bank, Research Division - Analyst
: Okay. I appreciate it.
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