The Zion Bank main office in Salt Lake City, Utah, US, on Friday, April 7, 2023. George Frey | Bloomberg | Getty Images Zions Bancorporation lost $1 billion of its valuation in a single day on Thursday after disclosing $60 million worth of loans it had made that were unlikely to be repaid. What led to that point was a …
Read More »Wall Street drops as Zions sparks worries about regional banks Reuters Regional banks and Jefferies shares tank as concerns grow on Wall Street about sour loans CNBC US regional bank stocks hit by Zions charge-off, fraud allegations Yahoo Finance Stock Rally Sputters as Two Regional Banks Get Hit: Markets Wrap Bloomberg.com Zions takes $50M loan loss as another credit ‘cockroach’ appears, sending regional-bank stocks …
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By Manya Saini, Arasu Kannagi Basil and Ateev Bhandari (Reuters) -U.S. regional bank stocks fell on Thursday after Zions Bancorporation disclosed it would take a $50 million loss in the third quarter on two commercial and industrial (C&I) loans from its California division. The disclosure added to growing investor unease about hidden credit stress as lenders navigate elevated interest rates …
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