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The effect of the Federal Reserve’s interest rate cuts of 300 basis points since the first quarter of 2007, combined with the industry-wide challenge in generating core deposits has resulted in a reduction of the net interest margin from 4. Since these items and their impact on First Security’s performance are difficult to predict, management believes presentations of financial measures excluding the impact of these items provide useful supplemental information that is important for a proper understanding of the operating results of First Security’s core business. Factors that might cause such a difference include changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulation; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies; trends in customer behavior as well as their ability to repay loans; changes in the national and local economy; and other factors, including risk factors, referred to from time to time in filings made by First Security with the Securities and Exchange Commission. Non-GAAP Reconciliation Table (in thousands, except per share data) 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter 2008 2007 2007 2007 ———– ———– ———– ———– Return on average assets 0. Find Out More

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