First Security Corp. and MountainWest Financial have closed the sales of Mountain West's Weber County deposits and its Five-Points office in Ogden.
The previously approved cash transaction involved approximately 6,000 deposit accounts totaling more than $24 million. The sale was effective at the close of business on March 7.All former customers of MountainWest in Ogden are now customers of First Security Bank of Utah. With the acquisition, First Security operates 102 commercial banking offices statewide.
"MountainWest's deposits are another important acquisition for us, strengthening First Security's presence in the strategic Weber County marketplace," said L. Scott Nelson, chairman of First Security Bank.
The acquisition is the fifth completed in the past six months for First Security Bank of Utah.
MountainWest is focusing its efforts on business and deposits in the Sandy area, said MountinWest President David C. Richard.