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Business News
| Three Companies Join MSI, Index falls 2.3% |
| Mormon News has identified three new companies
that will be added to the Mormon Stock Index this week, but as U.S.
Stocks continued to slide this month, the MSI also dropped 2.3% for
the week. Joining the index are the Williams Companies, Central
Pacific Bank, and K-Swiss, Inc. |
| Plano, Texas to Get 4th LDS Chapel Since 1980 |
| Membership growth in Plano, Texas has prompted the
LDS Church to build for the fourth time in about 20 years. The Plano
Stake held a groundbreaking ceremony Saturday, January 26th for the
new building, located on Los Rios Boulevard, across from Plano East
Senior High School. "We're getting to the point now where we have
second-, third-, and fourth-generation families attending church in
Plano," said Harold Richmond, Director of Public Affairs for the
stake. Plano currently has eight wards, the first of which was formed
in 1970, and eventually met in the first LDS building in the city,
built in 1980. The stake also has built a new building in nearby
Frisco, and an open house for that building is set for March 22nd and
23rd. |
| Zions Bancorporation Posts Increase in Income |
| 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." |
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