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In May 2007, Wells Fargo acquired Greater Bay Bancorp, which had $7.4 billion in assets, in a $1.5 billion transaction. [4] [5] In June 2007, Wells Fargo acquired CIT's construction unit. [6] In January 2008, Wells Fargo acquired United Bancorporation of Wyoming. [7] In August 2008, Wells Fargo acquired Century Bancshares of Texas. [8]
Wells Fargo & Company was an American banking company based in San Francisco, California, that was acquired by Norwest Corporation in 1998. During the California Gold Rush in early 1848 at Sutter's Mill near Coloma, California, financiers and entrepreneurs from all over North America and the world flocked to California, drawn by the promise of huge profits.
Wells Fargo, in its present form, is a result of a merger between the original Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998. The merged company took the better-known Wells Fargo name and moved to Wells Fargo's hub in San Francisco.
First Union later bought Wachovia National Bank in 2001 and the combined company took the Wachovia brand name. Wachovia Bank, suffering losses during the financial crisis of 2007–2008, was acquired by Wells Fargo, headquartered in San Francisco, California.
He was followed by an elderly woman approaching it for the first time, and greeting it with a very uncertain "Hello." Crocker National Bank was purchased by the British financial institution Midland Bank in 1981, but after a series of financial losses, it was sold to Wells Fargo Bank in 1986. Crocker's executive vice president and two-thirds of ...
First Interstate Bancorp was a bank holding company based in the United States.Headquartered in Los Angeles, it was the nation's eighth largest banking company. [1]Although First Interstate Bancorp was taken over by Wells Fargo in 1996, the name (along with the company logo) has continued to be used in the banking world by First Interstate BancSystem, who has been using the name under a ...
The List of Wells Fargo presidents includes those persons who have served as President of Wells Fargo since 1852. It includes the presidents of the express mail company from 1852 to 1918 and of the Wells Fargo Bank, which was separated from the express company in 1905 and merged with the Nevada National Bank to form the Wells Fargo Nevada National Bank - the lineal ancestor of the present ...
The higher revenues, relative to stable fixed costs which this method produced allowed Norwest to purchase many other banks, culminating with the 1998 purchase of Wells Fargo. Although Norwest was effectively the survivor, the merged company retained the better-known Wells Fargo name and moved to Wells Fargo's headquarters in San Francisco ...