Sept 26 Regional lender Zions Bancorp
said it repaid the remaining $700 million it received from the
U.S. Treasury under the Troubled Asset Relief Program (TARP) in
The Salt Lake City, Utah-based bank had received $1.4
billion from the government after the financial crisis and
repaid the first half of the bailout funds in March.
The repayment will result in a one-time dividend expense of
$16.6 million related to the TARP warrants, which the bank will
book at the end of September, Zions said.
In March, the bank said the U.S. Federal Reserve had
approved its 2012 capital plan, which included the redemption of
some of the TARP funds.
Zion's shares were up marginally at $20.50 on Wednesday
afternoon on the Nasdaq.