Why did the Eccles family decide to construct the First Security Bank Building? It marked an important turning point after twenty difficult years since the Great Depression for downtown Salt Lake City. Standing here at 405 S. Main St. we see a symbol of hope.
The First Security Bank Building was the first major building in Utah after the Great Depression. Its modern International design represented a brighter future. But by 2002, some called it the “ugly duckling”.
George and Marriner Eccles chose architect W.A. Sarmiento. They wanted a sleek modern building for their bank and Salt Lake City. Sarmiento designed a twelve-story structure of glass and porcelainized steel. This was the first use of a curtain wall exterior in Utah. It was one of only a few in the country. The curtain wall allowed 5000 more square feet than a conventional masonry wall. The building totaled 147000 square feet. Banking operations used 44700 square feet. The projected cost was $3 million.
The Eccles brothers were very pleased. They wrote to Joseph Gander at Bank Building & Equipment Corporation. They stated they were extremely proud of the modern building’s appearance. Eccles noted the clean straight lines and colorful materials created a pleasing dramatic effect. Thousands visited the bank on opening day. They admired the marble writing desks. They also saw George Eccles’ desk in the middle of the banking floor. This gave customers direct access to the chief.
The First Security Bank Building served the bank well for decades. In 2001, Wells Fargo merged with First Security. Decisions were made to sell the building. This became controversial for developers and preservationists. Wasatch Property Management rehabilitated the building. They met the Secretary of the Interior’s Standards for Rehabilitation. The project received federal rehabilitation tax credits. Developers leased the building fully within a year.
The First Security Bank Building has a great history. Preservationists worked to change the perception of “the ugliest building in town”. Today, the First Security Bank Building stands as a testament to innovation and perseverance. It reminds us of Salt Lake City’s journey from economic hardship to a bright future.