Zions Bancorp will sell insurance unit |
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Published
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Thu, 11 Jan 2007 17:35
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SALT LAKE CITY (AFX) - Zions Bancorp said Thursday its Zions First National Bank unit said Thursday it will sell its Grant-Hatch & Associates insurance agency to insurance broker Leavitt Group.Terms were undisclosed. The deal, which includes certain books of business booked in ZionsDirect and Zions Insurance Agency, is expected to close by the end of the first quarter.Zions and Leavitt will sign a referral-based revenue sharing agreement on the sale of retail and commercial insurance products to Zions Bank clients.Most Grant-Hatch staffers will become employees of the Leavitt Group.Shares of Zion Bancorp fell 35 cents to $83.77 during morning trading on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Zions offers 4Q outlook, hurt by charges 