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Posted 09 Apr 2002   For week ended January 25, 2002
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News about Mormons, Mormonism,
and the LDS Church
Sent on Mormon-News: 01Feb02
By Kent Larsen
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Zions Bancorporation Posts Increase in Income

SALT LAKE CITY, UTAH -- Zions Bancorporation reported last week that its fourth-quarter net income increased 9% over the prior year. For the year net income increased 75% over 2000. The company credited strong local business for its increased earnings, mainly due to the merger of competing First Security Bank with Wells-Fargo, which allowed Zions to pick up some disgruntled customers who left First Security after the merger. "We're very pleased with the solid operating results we achieved in 2001," remarked Zions' President and Chief Executive Officer Harris H. Simmons, who is an LDS Church member. "We had very strong core revenue growth with remarkably stable net interest margins in a very volatile interest rate environment and during a period of increasing economic uncertainty."


Zions Bancorporation Reports 9.0% Increase In Net Income for the Fourth Quarter
PRNewswire 24Jan02 US UT SLC B4


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