Zions Bancorporation Announces Retirement Of Chief Credit Officer Ken Peterson
SALT LAKE CITY, Feb. 28, 2013
SALT LAKE CITY, Feb. 28, 2013 /PRNewswire/ -- Zions Bancorporation (NASDAQ:
ZION)("Zions" or "the Company) announced today that Ken Peterson, Zions'
Chief Credit Officer, will retire in April at the completion of his three-year
contract with the Company.
Harris H. Simmons, Chief Executive Officer of Zions Bancorporation, stated,
"Ken was hired to strengthen the Company's overall credit organization, to
reformulate credit policies and to position Zions for healthy future growth in
a changing regulatory environment. Ken and his team have made significant
contributions to our Company, having achieved these objectives in addition to
establishing a credit concentration risk framework, bringing consistency to
credit training, strengthening underwriting oversight of larger credits and
implementing new technologies to support these efforts. Ken leaves us at a
time when credit trends are very positive, with continued reductions in
problem loans and charge-off levels that are once againwell below the median
levels of performance being experienced by our peers. I wish to express my
appreciation to Ken for his many efforts in taking our management of credit to
a higher level of excellence, and to extend my best wishes to him in his
retirement and future endeavors."
"Together with our partners in Zions' affiliate banks, we met all the
objectives we targeted almost three years ago," said Peterson. "Enhanced
formal quality control and sharing of best practices on credit matters across
the Zions organization have resulted in improved underwriting, better loan
approval processes,intensified focus onproblem credit resolutions and
disciplined credit concentration risk management."
Zions Bancorporation is one of the nation's premier financial services
companies, consisting of a collection of eight great banks in select western
U.S. markets with combined total assets exceeding $50 billion. Zions operates
its banking businesses under local management teams and community identities
in 10 western and southwestern states: Amegy Bank of Texas, California Bank &
Trust, National Bank of Arizona, Nevada State Bank, The Commerce Bank of
Oregon, The Commerce Bank of Washington, Vectra Bank Colorado (and New
Mexico), and Zions First National Bank (Utah and Idaho). The company is a
national leader in Small Business Administration lending and public finance
advisory services. In addition, Zions is included in the S&P 500 and NASDAQ
Financial 100 indices. Investor information and links to subsidiary banks can
be accessed at www.zionsbancorporation.com.
SOURCE Zions Bancorporation
Contact: James Abbott, +1-801-844-7637
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