Printer Friendly

ZIONS BANCORPORATION ANNOUNCES FINAL SETTLEMENT IN ACQUISITION OF DCNY

 SALT LAKE CITY, Oct. 18 /PRNewswire/ -- Zions Bancorporation (NASDAQ: ZION) reported the determination of the final purchase price of the acquisition of Discount Corp. of New York by its subsidiary, Zions First National Bank. Under the terms of the purchase agreement, the final purchase price was to be determined based upon a closing audit of Discount Corp.'s financial records, which has now been concluded. Pursuant to such determination, the final purchase price is $8 per share of Discount Corp. of New York common stock. Consideration of $7 for each common share was previously distributed to shareholders, and the distribution of the remaining $1 per common share plus accrued interest will commence immediately.
 Zions Bancorporation is a bank holding company operating 102 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 Crop., 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- 10/18/93
 /CONTACT: Harris H. Simmons, president and CEO, or Gary L. Anderson, 801-524-4787, Zions Bancorporation/
 (ZION)


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

LS-MF -- LA037 -- 3599 10/18/93 17:07 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 18, 1993
Words:216
Previous Article:UNITED DOMINION REALTY TRUST REPORTS HIGHER THIRD QUARTER RESULTS
Next Article:H.B. FULLER ANNOUNCES REGULAR QUARTERLY DIVIDEND
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters