Zions Bancorp (NASDAQ:ZION) reported its Q4 results, with EPS of $1.84 coming in better than the Street estimate of $1.65. Revenue was $873 million, beating the Street estimate of $865.83 million.

Core bank results were solid with favorable spread revenue dynamics and tightly controlled expenses. Credit continues to be solid, though management remained conservative with a modest reserve build.

Management expects moderate growth across most categories, including higher loan balances, and increasing customer-related fees. Net interest income is expected to increase at a single-digit percentage rate for 2023, though spread revenues are likely to be pressured over the year from fewer rate increases and rising deposit costs.