First Security Corporation

First Security Corporation is a topic that has generated interest for many years, as it affects a large number of people in different areas of their lives. Its importance lies in its influence on the personal, professional and social development of individuals. Over time, numerous studies and research have been carried out to better understand First Security Corporation and its implications, which has led to the creation of various approaches and theories in this regard. In this article, different aspects related to First Security Corporation will be explored, from its history and evolution to its impact on current society, in order to provide a broad and complete vision of this topic.

Not to be confused with First Security Bank.
First Security Corporation
Company typePublic
Nasdaq: FSCO
IndustryBanking
FoundedJune 1929 (1929-06) in Ogden, Utah, US
FoundersMarriner Stoddard Eccles, George S. Eccles
Defunct2000 (2000)
Fateacquired by Wells Fargo
SuccessorWells Fargo
HeadquartersSalt Lake City, Utah, United States
Area served
Western United States
Key people
George S. Eccles, CEO
ProductsRetail banking
Investment banking
Commercial banking
Mortgages
WebsiteArchived official website at the Wayback Machine (archived December 5, 1998)

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]

See also

References

  1. ^ "History of First Security Corporation". fundinguniverse.com.
  2. ^ "Wells Fargo & Company and First Security Corporation Merger Press Release". sec.gov. 2000-04-09. Archived from the original on 2012-12-17.