Zions takes $50 million loan loss as another credit ‘cockroach’ appears. Its stock is falling.
1. Zions Bancorp disclosed a $50 million loss on two commercial loans. 2. Concerns around credit-market conditions have negatively impacted stock, down 7.2%. 3. Analysts noted the significant loan-loss provision is Zions' highest since Q3 2022. 4. Zions plans independent review of loans due to borrower irregularities. 5. Analysts cut price target to $56 amid expectations of further losses.