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First Security Corporation

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First Security Corporation
Company typeFirst Security Corporaton logo
IndustryBanking
FoundedOgden, Utah, U.S. (June, 1928)
HeadquartersSalt Lake City, Utah, United States
Area servedWestern United States
Key peopleMarriner Stoddard Eccles,
(Co-founder)
George S. Eccles,
(Co-founder, CEO)
ProductsRetail 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

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 of 1928.

In 1932, First Security acquired Deseret National Bank, which was originally founded in 1871 by Brigham Young. It then moved its headquarters from Ogden to Salt Lake City.

In 2000, First Security was absorbed into Wells Fargo, with First Security stockholders receiving 0.355 of a share of Wells Fargo common stock in exchange for each share of First Security common stock.

References

  1. http://www.fundinguniverse.com/company-histories/First-Security-Corporation-Company-History.html
  2. Wells Fargo & Company and First Security Corporation Merger Press Release
Wells Fargo
Founders
Board of directors
  • Charles Scharf (CEO)
  • Charles Noski (chairman)
  • Steven Black
  • Mark A. Chancy
  • Celeste A. Clark
  • Theodore F. Craver
  • Wayne M. Hewett
  • Donald M. James
  • Maria R. Morris
  • Richard B. Payne
  • Juan A. Pujadas
  • Ronald L. Sargent
  • Suzanne M. Vautrinot
Divisions
  • Wells Fargo Advisors
  • Wells Fargo Bank
  • Wells Fargo Financial
  • Wells Fargo Home Mortgage
  • Wells Fargo Insurance Services
  • Wells Fargo Securities
Historical components
Former components
Buildings
History
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