First Security Corp. has received all approvals to acquire the 6,000 deposit accounts totaling $33 million currently held at three MountainWest Financial Co. locations in Ogden. The cash transaction will be completed soon under an agreement signed in October.
Spencer F. Eccles, First Security's chairman and chief executive officer, and David C. Richard, president and chief operating officer of MountainWest, made the announcement.Eccles said MountainWest's Weber County deposits will be combined with First Security Bank of Utah, which operates 101 offices in the state.
"We are delighted that upon completion of this transaction later this quarter, the depositors of three MountainWest offices in Weber County will become customers of First Security, the largest bank in the state. They will have access to a large array of banking products and financial services backed by the strength of a well-capitalized and profitable $6.5 billion institution," Eccles said.