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CORRECT: Zions Bancorp 3Q Narrows As Loan-Loss Provisions, Credit Improves

("=Zions Bancorp 3Q Narrows As Loan-Loss Provisions, Credit Improves," published at 4:40 p.m. EDT, reported profit applicable to shareholders rather than profit applicable to controlling interest in the fifth paragraph. A corrected version follows,) DOW JONES NEWSWIRES Zions Bancorp's (ZION) third-quarter loss narrowed as the Utah-based regional bank's loan-loss provision continued to decline and credit quality improved. Shares were down 1.3%, at $21.07 in late trading, after climbing 3% in the regular session amid a rally in financial stocks. In recent quarters, many regional banks have been reporting easing charge-offs and loan-loss provision as the economy recovers. Zions Bancorp's credit-quality improvement earlier this year prompted the company to anticipate swinging to pretax profitability some quarter this year, which it failed to do again this period. As it reported its eighth quarterly loss in a row, Zions said its provisions for potential loan losses were $184.7 million, compared with $565.9 million a year earlier and $228.7 million in the second quarter. Net charge-offs, loans the bank doesn't expect to collect, dropped to 2.50% of annualized average loans from 3.65% and 2.64%, respectively. Nonperforming assets, or loans in danger of going bad, fell to 6.01% from 6.62% and 6.6% respectively. Zions reported a loss of $47.3 million, or 47 cents a share, compared with a year-earlier loss of $155.3 million, or $1.43 a share. The most recent period had 35% more shares outstanding. Analysts surveyed by Thomson Reuters predicted a 50-cent loss. Total interest income fell 7.9%, to $581.9 million. The level of loans and deposits both fell sequentially, with 1.2% and 1.3% drops, respectively. During the downturn, regional banks' performance was often closely linked to local real-estate markets. With operations in 10 Western and Southwestern states, Zions was exposed to some of the hardest hit housing markets. Zions turned to the government's Troubled Asset Relief Program to get through the worst of the downturn, taking $1.4 billion. The company has been boosting capital levels. In September, it revealed plans to sell warrants, which follows several equity-distribution deals. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;

Stock News for Zions Bancorporation (ZION)
03/27/201515:49:20Initial Statement of Beneficial Ownership (3)
03/23/201517:05:56Amended Statement of Changes in Beneficial Ownership (4/a)
03/23/201517:01:08Initial Statement of Beneficial Ownership (3)
03/23/201514:02:00Zions Bancorporation To Report First Quarter 2015 Earnings Results
03/20/201516:38:48Current Report Filing (8-k)
03/20/201516:17:23Statement of Changes in Beneficial Ownership (4)
03/20/201513:49:34Current Report Filing (8-k)
03/20/201509:02:43Zions Bancorp Names New Finance Chief After Passing 'Stress Test'
03/20/201508:10:40Zions Bancorp CFO stepping down
03/20/201508:00:00Zions Bancorporation Announces Retirement of Doyle L. Arnold;...
03/19/201516:17:00Zions Bancorporation Elects Vivian Lee And Suren Gupta To Its...
03/18/201521:29:54Oil: Dallas Sellers Club
03/17/201512:30:00Zions Bancorporation Receives 24 Greenwich Excellence Awards...
03/13/201503:46:302015 Bank Capital Return Plans In A Nutshell
03/11/201518:22:22Fed Approves Zions Capital Plan--2nd Update
03/11/201516:43:05Current Report Filing (8-k)
03/11/201516:30:00Federal Reserve Does Not Object To Zions Bancorporation 2015...
03/11/201506:02:06Amended Current Report Filing (8-k/a)
03/08/201507:15:46MARKET SNAPSHOT: Good News Is Bad Again: Economic Data In Focus...
03/06/201506:18:43Wall Street Breakfast: All Eyes On Jobs

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