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1928: Giannini forms Transamerica Corporation as a holding company for his banking and other interests.
1929: Northwest Bancorporation, or Banco, is formed as a banking association.
1954: Wells shortens its name to Wells Fargo Bank.
1957: Transamerica spins off its banking operations, including 23 banks in 11 western states, as Firstamerica Corporation.
1960: Wells Fargo merges with American Trust Company to form the Wells Fargo Bank American Trust Company.
1961: First America changes its name to Western Bancorporation.
1962: Wells again shortens its name to Wells Fargo Bank.
1968: Wells converts to a federal banking charter, becoming Wells Fargo Bank, N. A.
1969: Wells Fargo & Company holding company is formed, with Wells Fargo Bank as its main subsidiary.
1981: Western Bancorporation changes its name to First Interstate Bancorp.
1982: Banco acquires consumer finance firm Dial Finance which is renamed Norwest Financial Service the following year.
1983: Banco is renamed Norwest Corporation.
1983: Largest U. S. bank heist to date takes place at a Wells Fargo depot in West Hartford, Connecticut.
1986: Wells Fargo acquires Crocker National Corporation from Midland Bank.
1987: Wells Fargo acquires the personal trust business of Bank of America.
1988: Wells Fargo acquires Barclays Bank of California from Barclays plc.
1995: Wells Fargo becomes the first major financial services firm to offer Internet banking.
1996: Wells Fargo acquires First Interstate for $17. 3 billion.
1998: Wells Fargo Bank merges with Norwest Corp. of Minneapolis.
2000: Wells Fargo Bank acquires National Bank of Alaska.
2000: Wells Fargo acquires First Security Corporation.
2001: Wells Fargo acquires H. D. Vest Financial Services.
2007: Wells Fargo acquires CIT Construction.
2007: Wells Fargo acquires Placer Sierra Bank.
2007: Wells Fargo acquires Greater Bay Bancorp.
2008: Wells Fargo acquires United Bancorporation of Wyoming
2008: Wells Fargo acquires Century Bank.
2008: Wells Fargo acquires Wachovia Corporation.
2009: Wells Fargo acquires North Coast Surety Insurance Services
[edit] Historical data
Asset & Liability
Asset Liability Ratio
Net Income[38]
Wells Fargo Bank was the fifth largest bank at the end of 2008 as an individual bank. (Not including subsidiaries)
[edit] Environmental record
This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (March 2012)
Wells Fargo ranked No. 1 among banks and insurance companies – and No. 13 overall – in Newsweek magazine’s inaugural “Green Rankings” of the country’s 500-largest companies.
So far, Wells Fargo has provided more than $6 billion in financing for environmentally beneficial business opportunities, including supporting 185 commercial-scale solar photovoltaic projects and 27 utility-scale wind projects nationwide.
As a member of the U. S. Environmental Protection Agency s Climate Leaders program, Wells Fargo aims to reduce its absolute greenhouse gas emissions from its U. S. operations by 20% below 2008 levels by 2018.
Wells Fargo has launched what it believes to be the first blog among its industry peers to report on its environmental stewardship and to solicit feedback and ideas from its stakeholders. [39]
We want to be as open and clear as possible about our environmental efforts – both our accomplishments and challenges – and share our experiences, ideas and thoughts as we work to integrate environmental responsibility into everything we do, said Mary Wenzel, director of Environmental Affairs. We also want to hear and learn from our customers. By working together, we can do even more to protect and preserve natural resources for future generations.
[edit] Recent controversies
A Wells Fargo branch in Logan, UtahOn February 4, 2009, Wells Fargo announced it was canceling a four-day business meeting and employee recognition event in Las Vegas. There had been negative allegations from the media, members of Congress and other public officials that the trip was a pricey Las Vegas casino junket and that the company was misusing taxpayers money, since Wells Fargo had been one of the banks that received bailout funds from the government a few months earlier. [40]
Illinois Attorney General Lisa Madigan filed suit against Wells Fargo on July 31, 2009, alleging that the bank steers African Americans and Latinos into high-cost subprime loans. A Wells Fargo spokesman responded that The policies, systems, and controls we have in place – including in Illinois – ensure race is not a factor. . . [41]
In a March 2010 agreement with federal prosecutors, Wells Fargo acknowledged that between 2004 and 2007 Wachovia had failed to monitor and report suspected money laundering by narcotics traffickers, including the cash used to buy four planes that shipped a total of 22 tons of cocaine into Mexico. [42]
In August 2010, Wells Fargo was fined by U. S. District Judge William Alsup for overdraft practices designed to gouge consumers and profiteer at their expense, and for misleading consumers about how the bank processed transactions and assessed overdraft fees. [43][44][45]
[edit] Tax dodging and lobbying
In December 2011, the non-partisan organization Public Campaign criticized Wells Fargo for spending $11 million on lobbying and not paying any taxes during 2008-2010, instead getting $681 million in tax rebates, despite making a profit of $49 billion, laying off 6,385 workers since 2008, and increasing executive pay by 180% to $49. 8 million in 2010 for its top 5 executives. [46]
[edit] Wells Fargo corporate buildings
One Wells Fargo Center in Charlotte, North Carolina
Wells Fargo Center in Davenport, Iowa
Wells Fargo Center in Denver, Colorado
Wells Fargo Center in Jacksonville, Florida
Wells Fargo Center in Los Angeles, California
Wells Fargo Center in Minneapolis, Minnesota
Wells Fargo Center in Portland, Oregon
Wells Fargo Center in Sacramento, California
Wells Fargo Center in Salt Lake City, Utah
Wells Fargo Center in San Francisco, California
Wells Fargo Center in Seattle, Washington
Wells Fargo Place in Saint Paul, Minnesota
Wells Fargo Plaza in El Paso, Texas
Wells Fargo Plaza in Houston, Texas
Wells Fargo Plaza in Phoenix, Arizona
Wells Fargo Tower in Birmingham, Alabama
Wells Fargo Tower in Colorado Springs, Colorado
Duke Energy Center (Formerly; Wachovia Corporate Center) in Charlotte, North Carolina – Wells Fargo owns and occupies space in the building[47]
One Wells Fargo Center – Charlotte, North Carolina, will succeed as Headquarters for East Coast Operations of Wells Fargo[47][48]
Wells Fargo Center in Los Angeles
Wells Fargo Center in Minneapolis
Wells Fargo Center in Denver
Wells Fargo Center in Albuquerque[edit] See also
San Francisco Bay Area portal
Companies portal
Stagecoach
Butterfield Stage
Pony Express
Wells Fargo Center
Wells Fargo Arena
History of Wells Fargo
List of Wells Fargo Directors
List of Wells Fargo Presidents
[edit] Notes
This article uses bare URLs for citations. Please consider adding full citations so that the article remains verifiable. Several templates and the Reflinks tool are available to assist in formatting. (Reflinks documentation) (March 2012)
^ Wells Fargo History. Wells Fargo History. Retrieved on July 8, 2011.
^ a b c d e 2010 Form 10-K, Wells Fargo & Company . Yahoo!. April 13, 2011. http: in. finance. yahoo. com q is?s=WFC&annual. Retrieved February 26, 2011.
^ Wells Fargo & Company: NYSE:WFC quotes & news . Google Finance. http: www. google. com finance?q=NYSE:WFC. Retrieved November 5, 2011.
^ Fortune 500 2011: Fortune 1000 Companies 1-100 . CNN. http: money. cnn. com magazines fortune fortune500 2011 full_list .
^ https: www. wellsfargo. com downloads pdf invest_relations wf2008annualreport. pdf
^ Browser Warning . Wellsfargo. com. https: www. wellsfargo. com press 20070214_SandPupgrade. Retrieved 2012-03-13.
^ S&P Downgrades Wells Fargo, U. S. Bancorp, Other Banks . BusinessWeek. June 17, 2009. http: www. businessweek. com investor content jun2009 pi20090617_892748_page_2. htm. Retrieved July 29, 2009.
^ Browser Warning . Wellsfargo. com. https: www. wellsfargo. com about corporate . Retrieved 2012-03-13.
^ Winkler, Rolfe (September 15, 2009). Break Up the Big Banks . Reuters. http: blogs. reuters. com rolfe-winkler 2009 09 15 break-up-the-big-banks . Retrieved December 17, 2009.
^ Tully, Shawn (February 27, 2009). Will the banks survive? . Fortune Magazine CNN Money. http: money. cnn. com 2009 02 27 news economy tully_banks. fortune index. htm?source=yahoo_quote. Retrieved December 17, 2009.
^ Citigroup posts 4th straight loss; Merrill loss widens . USA Today. Associated Press. October 16, 2008. http: www. usatoday. com money companies earnings 2008-10-16-citigroup_N. htm. Retrieved December 17, 2009.
^ Winkler, Rolfe (August 21, 2009). Big banks still hold regulators hostage . Reuters, via Forbes. com. http: www. forbes. com feeds afx 2009 08 21 afx6803343. html. Retrieved December 17, 2009.
^ Temple, James; The Associated Press (November 18, 2008). Bay Area job losses likely in Citigroup layoffs . The San Francisco Chronicle. http: www. sfgate. com cgi-bin article. cgi?f= c a 2008 11 17 BURD146AIA. DTL. Retrieved December 17, 2009.
^ Dash, Eric (August 23, 2007). 4 Major Banks Tap Fed for Financing . The New York Times. http: www. nytimes. com 2007 08 23 business 23discount. html. Retrieved December 17, 2009.
^ Pender, Kathleen (November 25, 2008). Citigroup gets a monetary lifeline from feds . The San Francisco Chronicle. http: www. sfgate. com cgi-bin article. cgi?f= c a 2008 11 24 BUST14B71M. DTL. Retrieved December 17, 2009.
^ Oman, Mark. UBS Global Financial Services Conference . Investor Presentation. San Francisco: Wells Fargo & Co. May 11, 2005. pp. 17, 23. Retrieved November 7, 2005.
^ Q3 2011, Inside Mortgage Finance, Sept. 2011)
^ Browser Warning . Wellsfargo. com. https: www. wellsfargo. com invest_relations annual. Retrieved 2012-03-13.
^ Wells Fargo Today . Wells Fargo and Company. https: www. wellsfargo. com downloads pdf about wellsfargotoday. pdf. Retrieved December 14, 2010.
^ a b c Warren Buffett Seal of Approval Goes To… Wells Fargo Bankers? Date 11 Apr 2011 . Blogs. wsj. com. 2011-04-11. http: blogs. wsj. com deals 2011 04 11 warren-buffett-seal-of-approval-goes-to-wells-fargo-bankers ?mod=WSJBlog. Retrieved 2012-03-13.
^ First Union Completes Acquisition of Bowles Hollowell Conner . North Carolina: Prnewswire. com. http: www. prnewswire. com cgi-bin stories. pl?ACCT=104&STORY= www story 05-01-1998 0000645180&EDATE=. Retrieved 2012-03-13.
^ Bowles Hollowell Conner & Co . Investing. businessweek. com. 1998-04-30. http: investing. businessweek. com research stocks private snapshot. asp?privcapId=975680. Retrieved 2012-03-13.
^ Ahmed, Azam (2011-08-15). Date 15 Aug 2011 . Dealbook. nytimes. com. http: dealbook. nytimes. com 2011 08 15 wells-fargo-brings-aboard-citadels-investment-banking-unit . Retrieved 2012-03-13.
^ Rothacker, Rick (2011-08-04). Wells Fargo Securities to occupy new uptown space | CharlotteObserver. com & The Charlotte Observer Newspaper . Charlotteobserver. com. http: www. charlotteobserver. com 2011 08 04 2502300 wells-fargo-securities-to-occupy. html#storylink=misearch. Retrieved 2012-03-13.
^ Wells Fargo CEO: What I ve Learned Since Business School Date 9 Nov 2009 . http: www. gsb. stanford. edu news packages 2009 transcripts 091105Kovacevichyt. txt. Retrieved 2012-03-13.
^ Browser Warning. Wellsfargo. com. Retrieved on July 8, 2011.
^ Browser Warning. Wellsfargo. com. Retrieved on July 8, 2011.
^ Browser Warning . Wellsfargo. com. https: www. wellsfargo. com press merge19980608. Retrieved 2012-03-13.
^ https: www. wellsfargo. com locator atm home Click Wells Fargo In-Store Branches for a pop-up with this information
^ Wells Fargo agrees to buy Wachovia, Citi objects
^ Citi: Wells Fargo blocked from buying Wachovia[dead link]
^ Court tilts Wachovia fight toward Wells Fargo[dead link]
^ Wells Fargo plans to buy Wachovia; Citi ends talks[dead link]
^ The end of one era and continuation of another – The Wells Fargo – Wachovia Blog. Blog. wellsfargo. com. Retrieved on July 8, 2011.
^ [1][dead link]
^ Landler, Mark and Dash, Eric (October 14, 2008). Drama Behind a $250 billion Banking Deal . The New York Times. http: www. nytimes. com 2008 10 15 business economy 15bailout. html. Retrieved February 4, 2009.
^ Browser Warning. Wellsfargo. com. Retrieved on July 8, 2011.
^ Money Economics Top 10 Banks Project . Moneyeconomics. com. http: www. moneyeconomics. com index. php?option=com_content&view=article&id=153:top-10-by-total-asset-wells-fargo-bank&catid=42:saving-rates&Itemid=106. Retrieved 2012-03-13.
^ Wells Fargo Environmental Forum . Blog. wellsfargo. com. http: blog. wellsfargo. com environment index. html. Retrieved June 12, 2010.
^ Wells Fargo cancels Vegas event , CNN, February 4, 2009, retrieved April 28, 2011
^ Illinois Files Bias Suit Against Wells Fargo , Reuters, July 31, 2009]
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