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FIRST SECURITY OF UTAH TO BUY FIVE FIRST INTERSTATE OFFICES

 FIRST SECURITY OF UTAH TO BUY FIVE FIRST INTERSTATE OFFICES
 SALT LAKE CITY, April 24 /PRNewswire/ -- L. Scott Nelson, chairman and chief executive officer of First Security Bank of Utah, and Robert C. Gross, president of First Interstate Bank of Utah, today announced that an agreement has been signed whereby First Security Bank will purchase five branches of First Interstate Bank of Utah.
 Under the agreement the five First Interstate offices, with deposits totaling $59.1 million in 12,071 accounts, will become part of First Security Bank of Utah. The First Interstate offices, located in Beaver, Milford, Roosevelt, Tooele and Vernal, will increase First Security's banking network to 111 offices in 60 Utah communities statewide.
 Nelson said the cash transaction, which is subject to regulatory approval, is expected to be completed by Sept. 30, 1992 or soon thereafter. "We look forward to strengthening First Security's marketing presence in these markets. We currently serve consumers and businesses through offices in Roosevelt, Tooele and Vernal. The Beaver and Milford offices will mark our initial opportunity to extend First Security's wide array of retail and commercial banking products and services to the people of these communities."
 "First Interstate has a tradition of service in Utah that extends back 130 years," said Gross. "We will continue to concentrate on the 17 communities in Utah where we are able to offer a full range of banking services and extend the benefits of our extensive banking network. As always, we will continue to provide our customers with the high quality service they've come to expect from our bank."
 With 31 branches and 34 ATMs statewide, First Interstate Bank of Utah is a subsidiary of First Interstate Bancorp (NYSE: I).
 First Security Bank of Utah is a subsidiary of First Security Corp. (NASDAQ: FSCO), Salt Lake City, which is the largest financial services company headquartered in the Intermountain West with total assets of $7.02 billion. Incorporated in 1928, the parent company is the oldest multistate bank holding company in the United States. Its four banking subsidiaries operate 208 offices in Utah, Idaho, Oregon and Wyoming. Other subsidiaries include a leasing company, two insurance companies, an investment management firm and a full-service broker/dealer operation.
 -0- 4/24/92
 /CONTACT: Phil Hudson of First Security, 801-350-5258; or Graham McKinney of First Interstate, 702-784-3758/
 (FSCO I) CO: First Security Bank of Utah; First Interstate Bank of Utah ST: Utah IN: FIN SU:


BB -- DV006 -- 2628 04/24/92 16:01 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
Words:414
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