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Mixed news for Zions Bank shares

Mixed news for Zions Bank shares

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(KSL News) Some mixed news for a prominent Utah bank that, like many in its industry, faces tough economic news.

Zions Bancorp says its second-quarter profit dropped 55 percent below analysts' expectations. It set aside more than $114 million to cover bad loans.

Meantime, the corporation's stock has rebounded strongly. It fell more than 20 percent Monday, but today climbed back 30 percent, finishing above $25 a share.

A spokesman told us, "We're still very profitable."

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