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Show lirst Security Corp. Acquires Provo Bank M - T " "' " ' 1 1 OODEN Control of the Knight Trust and Savings Bank of Provo, Utah, has been acquired by the First Security corporation. Negotiations Negotia-tions . were concluded Tuesday by E. O. Bennett, vice-president and general manager of the corporation, and the bank directors, 't The bank was founded by Jesse IM. Knight In 1913 and Is the largest larg-est financial Institution In the state south of Salt Lake. It lists its assets as-sets in excess of $1,000,000. It Is comes the twenty-ninth member bank of the First Security corora-tlon, corora-tlon, which operates In Idaho, Utah and Wyoming. Present officers and directors will continue, with additions to the board, as follows: M. 9. Eecles, II president, First Security corpora tion ; A. C. Ellis, Jr., general counsel, coun-sel, Columbia Steel corporation ; Utah Copper company and director direct-or First . Security corporation ; Charles L. Smith, president, Security Se-curity National Bank, Salt Lake. The present offlcerh are J. William Wil-liam Knight, president; It. E. Allen, vice president; F. G. War-nick, War-nick, vle president; W. E. Allen, cashier; directors. Dr. F. W. Taylor, Tay-lor, J. William Knight. R. E. Allen, Al-len, J. L. FIrmage, W. O. Creer, R. J. Murdock and F. G. Warnlck. As soon as stockholders' meetings meet-ings may be held, the name of the bank will be changed to First Security Bank of Provo The reorganized re-organized Institution will have capital cap-ital of $100,000, surplus of $100,000 and reserves of $100,000. R, E. -Allen, manager, Knight Trust and Savings Bank, made the following statement : "The board of directors Is very much gratified in the successful consumation of negotiations with the First Security corporation, which will give Provo an lnstHu-1 lnstHu-1 tlon of which the community may well be proud." "We are very pleased to become associated with the local stockholders stockhold-ers In the Knight Trust and Savings Sav-ings bank." said Mr. Bennett MWe have felt for some time that our organization was not propfcrly rounded out without being established estab-lished in this city, In the future of which we have full confidence." |