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ZIONS BANCORPORATION ANNOUNCES 33 PERCENT INCREASE IN DIVIDEND PAYMENT

 SALT LAKE CITY, Sept. 20 /PRNewswire/ -- Zions Bancorporation (NASDAQ: ZION) announced today that its board of directors, at a meeting held Friday, Sept. 17, 1993, declared a dividend of $.28 per common share for shareholders of record on Oct. 1, 1993, payable on Oct. 26, 1993. The dividend constitutes an increase of 33 percent over the previous quarterly dividend of $.21 per share.
 Harris H. Simmons, president and chief executive officer of Zions Bancorporation, stated that the increased dividend reflects the very strong earnings performance of the company in recent quarters and the continuing improvements in asset quality. Simmons noted that the Intermountain Area economy remains very strong and that the company is experiencing a healthy level of loan growth in each of its subsidiary banks.
 Zions Bancorporation is a bank holding company operating 100 full- service banking offices in Utah, Nevada and Arizona. Its subsidiaries include Zions First National Bank, Nevada State Bank, Zions First National Bank of Arizona, Zions Mortgage Co., Zions Credit Corp., Zions Insurance Agency, Zions Life Insurance Co., and Zions Data Service Co. The company's common shares are traded over the counter under the NASDAQ symbol "ZION."
 -0- 9/20/93
 /CONTACT: Gary L. Anderson, 801-524-4787/
 (ZION)


CO: Zions Bancorporation ST: Utah IN: FIN SU: DIV

JB-MF -- LA007 -- 3457 09/20/93 08:06 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
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