CFO of parent company arrested

Friday, June 22, 2001 | 11:04 a.m.

SALT LAKE CITY -- Zions Bancorporation, owner of Nevada State Bank and other banks around the West, said Chief Financial Officer Dale Gibbons was suspended after being arrested on charges of drug possession and child abuse.

Salt Lake County Sheriff's investigators, acting on complaints about parties at Gibbons' home, said they found a significant amount of methamphetamine there, the Deseret News newspaper reported.

The newspaper said that on June 11, paramedics found Gibbons' 15-year-old daughter and a young friend intoxicated and comatose at the home. They were hospitalized.

"We are all stunned and saddened by these allegations. Mr. Gibbons has been a very responsible, talented and valued employee who has earned a great deal of respect in our industry, and whose behavior at work is inconsistent with these charges. As a company we have absolutely no tolerance for the type of conduct alleged," said Zions Chief Executive Harris Simmons.

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