In a development that could unravel its long-delayed merger with Zions Bancorp, First Security Corp. warned Friday that its first-quarter results would fall well short of expectations, hit by pressure from rising interest rates and the after-effects of a botched computer system upgrading.

Though Zions reiterated its support for the merger between the two Utah banking companies, the news produced blistering criticism from institutional shareholders, several of whom demanded that Zions at least reconsider, and perhaps walk away from, the deal.

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