Operating Segment Information

3 Months Ended

Mar. 31, 2015

Operating Segment Information [Abstract]

Operating Segment Information

. OPERATING SEGMENT INFORMATION

We manage our operations and prepare management reports and other information with a primary focus on geographical area. As of March 31, 2015, we operate eight community/regional banks in distinct geographical areas. Performance assessment and resource allocation are based upon this geographical structure. Zions Bank operates 100 branches in Utah, 25 branches in Idaho, and one branch in Wyoming. CB&T operates 94 branches in California. Amegy operates 80 branches in Texas. NBAZ operates 66 branches in Arizona. NSB operates 50 branches in Nevada. Vectra operates 36 branches in Colorado and one branch in New Mexico. TCBW operates one branch in the state of Washington. TCBO operates one branch in Oregon. Effective April 1, 2015, TCBO was merged into TCBW.

The operating segment identified as “Other” includes the Parent, Zions Management Services Company (“ZMSC”), certain nonbank financial service subsidiaries, TCBO, and eliminations of transactions between segments. The Parent’s operations are significant to the Other segment. Net interest income is substantially affected by the Parent’s interest on long-term debt. ZMSC provides internal technology and operational services to affiliated operating businesses of the Company. ZMSC charges most of its costs to the affiliates on an approximate break-even basis.

The accounting policies of the individual operating segments are the same as those of the Company. Transactions between operating segments are primarily conducted at fair value, resulting in profits that are eliminated for reporting consolidated results of operations. Operating segments pay for centrally provided services based upon estimated or actual usage of those services.

The following schedule presents selected operating segment information for the three months ended March 31, 2015 and 2014:

(In millions)	Zions Bank						Amegy					CB&T						NBAZ						NSB
	2015			2014			2015		2014			2015			2014			2015			2014			2015			2014
CONDENSED INCOME STATEMENT
Net interest income	$	141.1		$	142.5		$	96.7	$	94.7		$	95.7		$	109.2		$	39.0		$	40.3		$	28.0		$	27.9
Provision for loan losses	(4.6		)	(8.7		)	11.1		16.9			(4.1		)	(2.1		)	0.7			(3.0		)	(8.7		)	(2.6		)
Net interest income after provision for loan losses	145.7			151.2			85.6		77.8			99.8			111.3			38.3			43.3			36.7			30.5
Noninterest income	46.8			44.0			34.0		32.0			16.7			5.8			8.5			8.3			9.0			4.9
Noninterest expense	127.4			121.5			94.0		87.0			74.4			85.3			36.9			37.3			32.1			32.1
Income (loss) before income taxes	65.1			73.7			25.6		22.8			42.1			31.8			9.9			14.3			13.6			3.3
Income taxes (benefit)	23.4			26.8			8.5		7.3			16.4			12.1			3.4			5.2			4.6			1.0
Net income (loss)	41.7			46.9			17.1		15.5			25.7			19.7			6.5			9.1			9.0			2.3
Net income (loss) applicable to noncontrolling interests	0.5			—			—		—			—			—			—			—			—			—
Net income (loss) applicable to controlling interest	$	41.2		$	46.9		$	17.1	$	15.5		$	25.7		$	19.7		$	6.5		$	9.1		$	9.0		$	2.3
AVERAGE BALANCE SHEET DATA
Total assets	$	18,573		$	18,275		$	13,964	$	13,467		$	11,368		$	10,889		$	4,825		$	4,612		$	4,164		$	3,991
Cash and due from banks	297			339			183		322			90			166			49			72			71			88
Money market investments	2,968			3,546			2,046		2,503			1,659			1,129			396			289			734			700
Total securities	2,468			1,596			285		242			337			327			412			365			840			781
Total loans	12,180			12,247			10,276		9,362			8,502			8,538			3,764			3,696			2,384			2,306
Total deposits	16,160			15,980			11,478		11,099			9,701			9,273			4,178			3,952			3,755			3,598
Shareholder's equity:
Preferred equity	280			280			226		153			162			162			85			120			50			50
Common equity	1,633			1,538			1,940		1,849			1,394			1,350			485			422			332			318
Noncontrolling interests	11			—			—		—			—			—			—			—			—			—
Total shareholder's equity	1,924			1,818			2,166		2,002			1,556			1,512			570			542			382			368
	Vectra						TCBW					Other						Consolidated Company
	2015			2014			2015		2014			2015			2014			2015			2014
CONDENSED INCOME STATEMENT
Net interest income	$	25.7		$	25.3		$	6.7	$	7.0		$	(15.5	)	$	(30.4	)	$	417.4		$	416.5
Provision for loan losses	3.8			(1.8		)	0.1		0.7			0.2			—			(1.5		)	(0.6		)
Net interest income after provision for loan losses	21.9			27.1			6.6		6.3			(15.7		)	(30.4		)	418.9			417.1
Noninterest income	5.0			3.8			0.9		(1.0		)	0.9			40.5			121.8			138.3
Noninterest expense	23.9			25.3			6.9		4.5			1.9			5.1			397.5			398.1
Income (loss) before income taxes	3.0			5.6			0.6		0.8			(16.7		)	5.0			143.2			157.3
Income taxes (benefit)	0.7			1.8			0.2		0.3			(6.0		)	1.6			51.2			56.1
Net income (loss)	2.3			3.8			0.4		0.5			(10.7		)	3.4			92.0			101.2
Net income (loss) applicable to noncontrolling interests	—			—			—		—			(0.5		)	—			—			—
Net income (loss) applicable to controlling interest	$	2.3		$	3.8		$	0.4	$	0.5		$	(10.2	)	$	3.4		$	92.0		$	101.2
AVERAGE BALANCE SHEET DATA
Total assets	$	2,977		$	2,569		$	896	$	873		$	51		$	758		$	56,818		$	55,434
Cash and due from banks	29			47			29		21			(4		)	(17		)	744			1,038
Money market investments	339			14			119		118			(248		)	(159		)	8,013			8,140
Total securities	191			164			71		90			179			552			4,783			4,117
Total loans	2,358			2,280			661		631			54			65			40,179			39,125
Total deposits	2,568			2,168			766		742			(1,122		)	(1,032		)	47,484			45,780
Shareholder's equity:
Preferred equity	25			70			3		3			173			166			1,004			1,004
Common equity	317			247			90		88			214			(217		)	6,405			5,595
Noncontrolling interests	—			—			—		—			(11		)	—			—			—
Total shareholder's equity	342			317			93		91			376			(51		)	7,409			6,599