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| ZION > SEC Filings for ZION > Form 8-K on 21-Apr-2009 | All Recent SEC Filings |
21-Apr-2009
Other Events, Financial Statements and Exhibits
On April 20, 2009, Zions Bancorporation (the "Company") announced its financial results for the quarter ended March 31, 2009, reporting a first quarter net loss applicable to common shareholders of $832.2 million, or $7.29 per diluted share. The results reflected, among other things, (i) net loan charge-offs of $151.7 million compared to $179.7 million in the fourth quarter; (ii) an increase in the provision for loan loss reserves to $297.6 million as compared to $285.2 million in the fourth quarter; (iii) a decrease in the net interest margin to 3.93% compared to 4.20% in the fourth quarter, as the Company had on average about $3 billion in short-term investments during the quarter; (iv) impairment and valuation losses on securities of $249 million, of which $182 million related to purchases of AAA and AA-rated securities from Lockhart that were downgraded; (v) a noncash goodwill impairment loss of $634 million at Amegy Bank reducing its goodwill by 51%; and (vi) total gross extensions of credit of $3.8 billion, of which $1.9 billion were new loans (excluding loans acquired in the acquisition of the failed Alliance Bank by the Company's California Bank & Trust subsidiary on February 6, 2009).
On April 20, 2009, Moody's Investors Service downgraded the ratings of the Company's senior debt to B2 with a negative outlook.
The Company hereby incorporates the Exhibits to this Current Report on Form 8-K relating to the issuance and sale of the Company's Senior Medium-Term Notes, Series A (the "Notes") by reference into the Company's Registration Statement on Form S-3 (No. 333-158319) (the "Registration Statement") as supplemented by the Prospectus Supplement dated April 21, 2009.
1.1 Distribution Agent Agreement, dated March 31, 2008
4.1 Form of Senior Medium-Term Floating Rate Note.
4.2 Form of Senior Medium-Term Fixed Rate Note.
5.1 Opinion of Sullivan & Cromwell LLP.
5.2 Opinion of Callister Nebeker & McCullough.
8.1 Opinion of Sullivan & Cromwell LLP regarding certain tax matters.
23.1 Consent of Sullivan & Cromwell LLP (included in Exhibits 5.1 and 8.1).
23.2 Consent of Callister Nebeker & McCullough (included in Exhibit 5.2).
99.1 Auction Agent Agreement, dated March 6, 2008.
99.2 Amendment #1 to the Auction Agent Agreement, dated April 30, 2008
99.3 Information relating to Item 14 of the Registration Statement.
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