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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
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
Wells Fargo
Wells Fargo & Company is an American multinational financial services company with a significant global presence. The company operates in 35 countries and serves over 70 million customers worldwide. It is a systemically important fi ...
in 2000.
History
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
Brigham Young ( ; June 1, 1801August 29, 1877) was an American religious leader and politician. He was the second President of the Church (LDS Church), president of the Church of Jesus Christ of Latter-day Saints (LDS Church) from 1847 until h ...
. It then moved its headquarters from Ogden to Salt Lake City
Salt Lake City, often shortened to Salt Lake or SLC, is the capital and most populous city of the U.S. state of Utah. It is the county seat of Salt Lake County, the most populous county in the state. The city is the core of the Salt Lake Ci ...
.
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.
See also
* First Security Bank Building, home of the company's headquarters for several decadesReferences
{{Authority control Defunct banks of the United States Banks established in 1928 Banks disestablished in 2000 1928 establishments in Utah Companies based in Ogden, Utah 2000 mergers and acquisitions