SALT LAKE CITY — Zions Bancorp says it could incur a $15 million pre-tax loss from its investment in Netcentives Inc.

In a conference call to discuss third-quarter earnings, Zions chief financial officer Dale Gibbons said stock in Netcentives, a San Francisco company that provides Internet direct marketing services, has been caught up in a general selloff in the Internet media sector.

Zions also expects a $6 million chargeoff in the fourth quarter from a loan to the struggling Owens Corning.

But it said the losses would be offset by a $65 million gain from Zions’ 8% stake in Star Systems Inc., an electronic funds transfer network that agreed this month to be bought by Concord EFS Inc.

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