Amegy parent Zions Bancorp closes first half with energy losses, more expected – Houston Business Journal

Zions Bancorp, the parent company of Houston-based Amegy Bank of Texas, is coming off a first half of 2016 where it posted $73 million in losses on its energy loan portfolio, and expects more for the rest of the year, as well.The charge-offs were in line with what Salt Lake City-based Zion (Nasdaq: ZION) expected — a $125 million loss on its energy loan portfolio. The losses are largely tied to one sector: Since Sept. 30, 2014, 78 percent of Zions’ loan losses related to energy have been in oil field services, earnings documents show.

Source: Amegy parent Zions Bancorp closes first half with energy losses, more expected – Houston Business Journal

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