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Bank of America: 1986 Wells Fargo Corp. Crocker National Bank: Wells Fargo Corp. (combined California bank uses Crocker's charter) Wells Fargo: 1987 Chemical Bank New York Trust Co. Texas Commerce Bank: Chemical Banking Corporation (TX banks continued to operate as Texas Commerce) $1.2 billion JPMorgan Chase: 1987 NBD Bancorp: USAmeribancs: NBD ...
On October 28, 2008, Wells Fargo was the recipient of $25B of the Emergency Economic Stabilization Act Federal bail-out in the form of a preferred stock purchase. [ 17 ] [ 18 ] Tests by the Federal government revealed that Wells Fargo needed an additional $13.7 billion in order to remain well-capitalized if the economy were to deteriorate ...
In addition, the investment bank Lehman Brothers filed for Chapter 11 bankruptcy protection in September 2008, citing bank debt of $613 billion and $155 billion in bond debt. The solvency of other U.S. banks was severely threatened, forcing the George W. Bush government to intervene with the $700 billion bailout plan of the Troubled Asset ...
First Union bought the Newark, N.J., bank for $5.4 billion — the biggest U.S. bank acquisition at the time. In 1997, the dealmaker bragged about the technique he used to buy Signet Banking Corp ...
Retail and mortgage bank £ 1.26 × 10 ^ 9 [11] August 26, 2008: Roskilde Bank: Danmarks Nationalbank (Danish Central Bank) Retail bank $ 896,800,000 (kr4,500,000,000) [12] September 5, 2008: Silver State Bank: Federal Deposit Insurance Corporation: Commercial bank [13] September 7, 2008: Fannie Mae and Freddie Mac: Federal Housing Finance ...
Having Warren Buffett at your back usually bodes well, as big banks Bank of America and Wells Fargo well know. Ever since the Oracle noted that his company, Berkshire Hathaway, has been buying up ...
Wachovia preferred the Wells Fargo deal because it would be worth more than the Citigroup deal and keep all of its businesses intact. Also, there is far less overlap between the banks, as Wells Fargo is dominant in the West and Midwest compared to the redundant footprint of Wachovia and Citibank along the East Coast. Both companies' boards ...
Early Warning Services, which designed and operates Zelle, is co-owned by seven big banks — Bank of America, Capital One, Chase, PNC Bank, Trust, U.S. Bank and Wells Fargo.