Zions Bancorporation, National Association (NASDAQ:ZION) Q1 2023 Earnings Call Transcript

I’m curious, if you look at the deposit flows of the individual banks, did you see more of a movement out of Zions Bank because of maybe an association to the holding company at stock versus say, an [indiscernible] one of the other banks where maybe that associations not as strong or was a fairly universal? Just one [Multiple Speakers]Paul Burdiss I don’t think we saw any – interesting question, but I don’t think we saw any correlation here. Steven Alexopoulos Okay. Thanks for the questions.Harris Simmons The other reality is that a lot of small business owners, a lot of consumers just don’t watch stock prices that much. And I mean, what we think of as being electric, you know, three weeks, a lot of people didn’t, they’re just not as tuned into it.

Because their bank is open, their bankers are there. They’re handling their transactions, you know, etcetera. I think we override sometimes the level of attentiveness that many businesses and consumers have to, what’s actually going on [in economy] [ph].Steven Alexopoulos That’s good color. Okay. Thanks guys.Paul Burdiss Thank you. It’s worth – I’m going to circle back real quickly to a comment earlier around deposits. There was a question about the current level of deposits. I think it’s in the – in a kind of net Reg FD friendly environment. It’s worthwhile to mention that deposits have been relatively flat since the end of the quarter. We’ve seen, I would say, my characterization, or return to a more operating, kind of inflows and outflows.

I think that’s worthwhile mentioning given the, sort of deposit flows we saw over the course of the quarter.Harris Simmons Thank you. Thank you all of you for your questions. That will conclude our call today. If you do have additional questions, please contact us at the email or phone number listed on our website. We look forward to connecting with you throughout the coming months and again, thank you for your interest in Zions Bancorporation. Alicia, this concludes our call.Operator Great. Thank you. You may disconnect your lines at this time. Thank you for your participation.