First Security Corporation

Not to be confused with First Security Bank.

First Security Corporation was a multistate bank holding company in the western United States, primarily in Utah, Idaho, New Mexico, Oregon, Nevada, and Wyoming. Headquartered in Salt Lake City, Utah, First Security merged with Wells Fargo in 2000.

First Security Corporation

Company type	Public
Traded as	Nasdaq: FSCO
Industry	Banking
Founded	June 1929; 96 years ago (1929-06) in Ogden, Utah, US
Founders	Marriner Stoddard Eccles, George S. Eccles
Defunct	2000; 25 years ago (2000)
Fate	acquired by Wells Fargo
Successor	Wells Fargo
Headquarters	Salt Lake City, Utah, United States
Area served	Western United States
Key people	George S. Eccles, CEO
Products	Retail banking Investment banking Commercial banking Mortgages
Website	Archived official website at the Wayback Machine (archived December 5, 1998)

History

The former First Security Building, now the Deseret Building, still retains the former bank's name.

David Eccles who emigrated to Utah from Scotland in 1863 had a founding interest in Utah International, which was later inherited by Marriner and George Eccles. The two sons, together with Marriner A. Browning, expanded their financial interests to 17 banks and a building and loan company, later brought under one holding company, First Security Corporation, in June 1928.

In 1932, First Security acquired Deseret National Bank, which had been founded in 1871 by Brigham Young. It then moved its headquarters from Ogden to Salt Lake City. ^[1]

In 2000, First Security was absorbed into Wells Fargo. First Security stockholders received 0.355 of a share of Wells Fargo common stock in exchange for each share of First Security common stock. ^[2]

See also

• First Security Bank Building, home of the company's headquarters for several decades