Zions Bank Acquiring Utah-based Insurer

July 16, 2002

Zions Bank, a subsidiary of Zions Bancorporation, and Grant-Hatch & Associates, Inc., a Salt Lake City-based insurance agency, announced an agreement has been signed under which Zions will acquire Grant-Hatch. Under terms of the agreement Grant-Hatch will continue to operate under its current name for the present time.

Established in 1886 Grant-Hatch is one of Utah’s oldest businesses, and is one of the largest independent, full-service agencies in the state. With a focus on industrial, commercial and surety bonds, Grant-Hatch represents several million dollars in premiums, with one office in downtown Salt Lake City. The company’s 14 employees have more than 300 years of combined experience in the insurance industry.

Richard Taylor, current chairman of the Grant-Hatch board, will be retiring upon completion of the acquisition. Norman D. Squires, president of Grant-Hatch, will continue to manage the agency, along with each of the current Grant-Hatch management team and employees, including executive vice president Roger Ricks, vice president Mary Cristaudo, and secretary/treasurer Dennis Dunbar.

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