SALT LAKE CITY - Joseph G. Maloof has resigned from First Security Corp.'s board of directors, citing a conflict with his family's "current business plans and activities."

Mr. Maloof is a member of a prominent New Mexico family that once owned the Houston Rockets and made its money distributing beer and wine throughout the Southwest. He has been a member of the First Security board since 1996, since First Security's 1993 acquisition of First National Bank in Albuquerque, in which the Maloof family had a controlling stake.

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