Amegy Bank parent Zions Bancorp. continues to reduce energy portfolio – HBJ

Salt Lake City-based Zions Bancorp. (Nasdaq: ZION), the parent company of Houston-based Amegy Bank of Texas, continued to reduce its energy-related loan portfolio during the third quarter with its largest reduction to-date.Zions reduced its energy portfolio by $256 million during the third quarter of 2016, the largest so far, according to Scott McLean, president and COO for Zions. This falls in line with an ongoing strategy for the bank to reduce its energy exposure during the poor energy climate. In the past 12 months, Zions has reduced its overall energy exposure, which includes unfunded commitments, as well as lease and lending balances, by more than $1 billion. Zions currently had just under $4.1 billion in energy exposure through the third quarter, according to its quarterly earnings report.

Source: Amegy Bank parent Zions Bancorp. continues to reduce energy portfolio – Houston Business Journal

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