First Security Corporation

First Security Corporation From Wikipedia, the free encyclopedia Jump to navigationJump to search First Security Corporation First Security Bank.jpg Type Public Traded as Nasdaq: FSCO Industry Banking Successor Wells Fargo Founded June 1929; 91 years ago in Ogden, Utah, US Founders Marriner Stoddard Eccles, George S. Eccles Defunct 2000; 21 years ago Fate acquired by 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 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. 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] References "History of First Security Corporation". fundinguniverse.com. "Wells Fargo & Company and First Security Corporation Merger Press Release". sec.gov. 2000-04-09. Archived from the original on 2012-12-17.