Bank posts record profit

Tuesday, July 20, 1999 | 11:08 a.m.

SALT LAKE CITY -- First Security Corp. reported a record profit of $68.8 million or 35 cents per share in the second quarter, up $5.7 million or 3 cents per share from the year-ago quarter.

The 1998 quarter comparison does not include acquisition charges of $7.2 million for First Security's purchase of a California bank.

Total assets for the bank at the end of the quarter were $22.1 billion, up 14.34 percent from the year ago quarter.

First Security, which operates a network of banks in Nevada, is being acquired by Zions Bancorporation of Salt Lake City, owner of Nevada State Bank. The combined bank will be named First Security.

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