Regional banks: Zions falls

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From Bloomberg News:

Regional Banks Tumble

Zions, the lender with operations in 10 Western U.S. states, tumbled 10 percent to $33.44 for the steepest decline in the S&P 500. “Weakness” in residential construction and land values in the Southwest will harm loans and is “expected to persist into 2009,” the lender said in a presentation attached to a regulatory filing today.

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This dragged other regionals down. As of 1:00PM EDT, regionals looked like this:

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NCC 4.82-0.26 (-5.12%)
FITB 12.92-0.64 (-4.72%)
MBR 16.000.00 (0.00%)
CRBC 3.18-0.05 (-1.55%)
FFBC 10.30-0.35 (-3.29%)
BBT 26.59-0.75 (-2.74%)
WB 17.23-0.90 (-4.96%)
DEAR 5.78+0.08 (1.40%)
FMER 18.89-0.32 (-1.67%)
KEY 11.67-0.13 (-1.10%)
ZION 33.69-3.47 (-9.34%)

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