Zions Bancorp. said Monday that it lost $832.2 million in the first quarter, or $7.29 a share.
The $54.5 billion-asset Salt Lake City company reported a noncash goodwill impairment loss of $634 million, or $5.55 a share, at its Amegy Bank of Texas. Zions also posted impairment and valuation losses on securities of $249 million, or $1.35 a share, of which $182 million were related to its downgraded Lockhart securities.
Excluding the charges, Zions' loss from core banking operations was 39 cents a share. The average estimate had called for a loss of $1.77 a share.
Zions' loan-loss provision rose 4.3% from the fourth quarter and more than tripled from a year earlier, to $297.6 million.
