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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Zions Bank Buying Into Roth Capital Partners

February 13, 2001|Associated Press

Zions First National Bank confirmed Monday that it is buying a 24.5% stake in Roth Capital Partners LLC, a Newport Beach investment firm specializing in small and mid-size high-tech stock offerings.

The Salt Lake City bank, a subsidiary of Zions Bancorporation, said it will pay $16.5 million to become the second-largest shareholder behind Roth Capital's chairman, Byron Roth, who will remain the majority shareholder. Zions will not have a seat on Roth Capital's board.

Members of Roth Capital's management team, including newly appointed President Patrick J. Allen, are investing an additional $2.5 million.

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