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Harris Simmons, the company's chairman and CEO, said the repayment marks a significant milestone. "We expect to be able to sharpen our focus on expanding our business, while continuing to reduce higher-cost sources of capital and funding that stem from the financial crisis," Simmons said in a statement. Zions has about 500 offices across Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. Zions shares rose 17 cents to $20.50 in afternoon trading Wednesday.
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