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September 26, 2012
12:00 EDTZIONZions Bancorp redeems its remaining $700M of TARP
Zions Bancorporation announced that it has redeemed its remaining $700M Series D preferred stock, more commonly referred to as TARP funds. The shares were redeemed at their full face value; in addition, Zions has paid to the U.S. Treasury a cumulative total of $253M in dividends on its investment in Zions from November 2008 through today. The redemption of the preferred shares will result in a one-time dividend expense of $16.6M related to the TARP warrants, which will be booked in the quarter ended September 30, 2012. Assuming no further subordinated debt conversions, beginning in the 4Q12, Zions' quarterly preferred dividend expense is expected to be approximately $23M, compared to $37M recorded in the 2Q12 results.
News For ZION From The Last 14 Days
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January 12, 2015
06:52 EDTZIONAnalyst says oil price decline to hurt banks, NY Times reports
As a result of the decline in oil prices, banks in energy producing states will at least suffer a loan growth slowdown and may also see some defaults, Charles Peabody, a banking specialist at Portales Partners said, according to The New York Times. Banks that could be significantly affected by low oil prices include BOK Financial (BOKF) Cullen/Frost (CF), Zions Bancorporation (ZION) , Prosperity Bancshares (PB) 7%, and Comerica (CMA) 7%, BMO Capital stated last December 1. Reference Link

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