UPDATE: Zions Bancorp Q4 Profit Drops 35%

Zions Bancorp ZION reported a 35% drop in its fourth-quarter earnings. Zions' quarterly profit fell to $58.3 million, from $89 million, in the year-ago period. Its per-share earnings declined to $0.19 from $0.24. However, analysts expected earnings of $0.41 per share. Its total interest income declined 6.9% to $498.3 million. However, noninterest income dropped 47% to $54.2 million. Zions shares closed at $22.89 yesterday.