NEW YORK — Shares of Zions Bancorp dropped as much as 11% Tuesday after comments in a regulatory filing raised concerns about the regional bank's liquidity.

On Monday, Zions filed its quarterly report with the Securities and Exchange Commission, saying most of its subsidiary banks have seen profits drop or reported losses in recent quarters and are unable to pay dividends. The bank said cash earnings from the units and investments don't cover the parent company's interest and dividend payments and likely won't cover those for the rest of 2009, meaning the company will have to rely on its existing cash to fund the shortfall.

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