CORRECTED - UPDATE 1-Zions Bancorp posts $832.2 mln qtrly loss

Mon Apr 20, 2009 11:25pm BST
 
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(Corrects year-earlier profit in paragraph 2 to 97 cents per share from 98 cents)

* Zions says has $832.2 mln qtrly loss

* Loss driven by goodwill impairment

* Shrs fall 10 pct in after-mkt trade

NEW YORK, April 20 (Reuters) - Zions Bancorp (ZION.O), which operates banks throughout the western United States, posted a quarterly loss on Monday, hurt by goodwill impairment.

The Salt Lake City-based bank said its net loss applicable to common shareholders in the first quarter was $832.2 million, or $7.29 a share, compared with a profit of $104.3 million, or 97 cents a share, in the year-earlier quarter.

The company said it recorded an impairment on goodwill during the first quarter of $634 million, or about $5.55 a share.

Zions shares, which fell 13.9 percent to $12.93 in the regular session, were trading about 10 percent lower in after-market trading at $11.61. (Reporting by Lilla Zuill, editing by Matthew Lewis; editing by Carol Bishopric)

 

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