Zions Bancorp reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total interest income was $473,559,000 compared to $461,960,000 a year ago. Income before income taxes income was $147,420,000 compared to $125,573,000 a year ago. Net earnings applicable to common shareholders were $88,197,000 or $0.43 basic and diluted per share compared to $66,761,000 or $0.33 basic and diluted per share a year ago.

For the year, the company reported total interest income was $1,833,471,000 compared to $1,853,002,000 a year ago. Income before income taxes income was $451,859,000 compared to $621,423,000 a year ago. Net earnings applicable to common shareholders were $246,614,000 or $1.20 basic and diluted per share compared to $326,568,000 or $1.68 basic and diluted per share a year ago. Tangible book value per common share (non-GAAP) was $27.63 compared to $26.23 a year ago. Tangible return on average tangible common equity (non-GAAP) was 6.20% compared to 4.95% a year ago.

Net charge-offs for energy-related loans were $24 million during the fourth quarter of 2015 compared to $17 million during the third quarter of 2015. The company's outlook for 2016 net charge-offs is between 30 and 35 basis points of average loans. The majority of these charge-offs are expected to be energy-related.

For the year 2016, net interest income is expected to increase in 2016 due primarily to the change in benchmark interest rates in December 2015. The company expects effective tax rate to be closer to 34%.