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.
