Key Developments For Zions Bancorporation
Zions Bancorporation (ZION.O) (Nasdaq)
Zions Bancorporation Declares Dividend Of $0.01 Per Common Share
Zions Bancorporation announced that its Board of Directors has declared a regular quarterly dividend of $0.01 per common share. The dividend is payable on November 20, 2009 to shareholders of record on November 12, 2009.
Zions Bancorporation Announces Pricing Of $450 Million 7.75% Senior Notes Due 2014
Zions Bancorporation announced that it priced its offering of $450,000,000 fixed-rate senior unsecured notes to mature in 2014 with a coupon of 7.75% (Notes) in an underwritten public transaction (an increase in principal amount from what was originally anticipated). The Notes were sold at a price of 86.888. The completion of this offering further augments the Company's liquidity position in what remains an uncertain economic environment. Deutsche Bank Securities and Goldman, Sachs & Co. served as the lead joint book running managers and Banc of America Securities LLC, J.P. Morgan Securities Inc. and Zions Direct, Inc. served as co-joint book running managers for the offering.
Zions Bancorporation Announces Equity Distribution Agreement And Commencement Of Senior Notes Offering
Zions Bancorporation announced that it has entered into an equity distribution agreement with Goldman, Sachs & Co., pursuant to which the Company may offer and sell through or to Goldman, Sachs & Co. from time to time, shares of the Company's common stock, without par value, with an aggregate sales price of up to $250,000,000. The shares will be issued pursuant to the Company's Registration Statement on Form S-3 (No. 333-158319) previously filed by the Company with the Securities and Exchange Commission (the commission). It is anticipated that the shares of the Company's common stock will be issued over the next several quarters. The Company also announced that it has commenced an offering of senior unsecured notes to mature in 2014 in an underwritten public transaction, on terms yet to be determined. It anticipates filing a preliminary prospectus supplement in connection with the proposed offering. Deutsche Bank Securities and Goldman, Sachs & Co. will be serving as active lead joint book running managers and Banc of America Securities LLC, J.P. Morgan Securities Inc. and Zions Direct, Inc. will serve as passive co-joint book running managers for the offering.
Zions Bancorporation's Nevada State Bank to Assist FDIC With Resolution of Community Bank of Nevada
Nevada State Bank, subsidiary of Zions Bancorporation, announced that it will assist the Federal Deposit Insurance Corporation (FDIC) by acting as Payout Agent in the resolution of Community Bank of Nevada, based in Las Vegas, which was closed by the Nevada Financial Institutions Division and the FDIC was appointed as receiver. The FDIC has established a new temporary institution, Deposit Insurance National Bank of Las Vegas (DINB), an FDIC-insured bank. The newly chartered DINB is assuming transactional accounts and certain other deposits of Community Bank of Nevada. The FDIC has arranged for Nevada State Bank to assist in managing the deposit accounts. Nevada State Bank will oversee the new bank in providing banking services to former Community Bank of Nevada customers.
Zions Bancorporation's NetDeposit and Q2 Software Partner to Offer Distributed Capture and Payment Solutions to Community Financial Institutions
Zions Bancorporation's NetDeposit announced a new partnership agreement with Q2 Software, Inc. Q2 Software now provides community financial institutions access to NetDeposit's remote deposit capture, branch capture, debit/credit card and ACH payments. . This collaboration further advances Q2's banking technology offering with comprehensive distributed capture capabilities and payment processing solutions that are easy to deploy, use and manage.
