WASHINGTON - The Federal Reserve Board on Monday approved the $5.5 billion merger of First Security Corp. and Zions Bancorp., both based in Salt Lake City.The approval is conditioned on the sale of 64 branches with deposits exceeding $2 billion in Utah and Idaho. The Fed called for one more branch and at least $100 million to be divested than the Justice Department had in clearing the deal last week. The only approval pending is from the state of California. The shareholders of both banking companies are scheduled to vote Dec. 28.
- Katharine Fraser