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July 21, 2005
AMEGY BANK OF TEXAS CONTINUES
GROWTH IN SECOND QUARTER
Merger Announced with Zions Bancorporation
2nd Quarter Highlights
|||Diluted earnings per common share were $0.27 for the quarter, up 16% over the prior year and up 13% linked quarter|
|||Total revenue increased 22% over prior year; up 3.3% linked quarter|
|||Noninterest income increased 40% over prior year; up 9.7% linked quarter|
|||Average loans held for investment increased 23% over prior year; up 6% annualized on a linked quarter basis|
|||Average deposits grew 20% over prior year; up 14% annualized on a linked quarter basis|
|||Average assets increased 24% over prior year to $7.66 billion; up 5% annualized on a linked quarter basis|
|||Asset quality indicators remain positive; nonperforming assets were 44 basis points at quarter end|
|||Merger with Zions Bancorporation announced|
Houston, Texas Amegy Bancorporation, Inc., parent of Amegy Bank N.A. (NASDAQ: ABNK), today reported second quarter results that reflect the successful continuation of its strategy to build its core businesses. On July 6, the Company announced its intent to merge with Zions Bancorporation (NASDAQ: ZION). The merger is subject to Amegy Bancorporation shareholder and regulatory approvals and is expected to close in the fourth quarter of 2005.
For the quarter ended June 30, 2005, net income was $19.2 million, or $0.27 per diluted common share, compared to $16.2 million for the quarter ended June 30, 2004, or $0.23 per diluted common share.
Return on average assets and return on average common shareholders equity for the three months ended June 30, 2005 were 1.00% and 12.88%, respectively, compared to 1.06% and 12.66%, respectively, for the same period in 2004.
Total revenue for the second quarter of 2005 was $94.0 million, an increase of 22% over the same period in 2004 and up 3.3% linked quarter or 13% on an annualized basis. Average loans held for investment were $4.65 billion, a 23% increase over the second quarter of 2004 and an increase of 6% on an annualized basis. Period end loans held for investment increased 10% on an annualized basis over the first quarter of 2005. Average deposits were $5.65 billion, an
The following information was filed by Amegy Bancorporation, Inc. on Thursday, July 21, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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