The University of Utah Institutional Council has awarded the university's principal banking-services contract to First Security Bank.

First Security was the low bidder of the four banks that sought the U. account that includes general banking services and the merchants bank card charges.First Security bid $146,229.36 - an amount approximately 10 percent less than the U.'s current yearly fee for the same services. Other bidders were: Valley Bank, $181,818.24; Continental Bank, $220,991.52; and Zions Bank, $202,087.92.

The four-year contract begins Nov. 1.