Wells Fargo & Company
Wells Fargo & Company is ranked fourth in the Top 50 Bank Holding Companies by the National Information Center United States Federal Reserve System (www.ffiec.gov). Forbes lists it as among the Top 20 Biggest Public Companies in the World in 2011. The Chronicle of Philanthropy in 2011 listed it as the third most generous cash donor.
History of Wells Fargo & Company
This bank holding company is over 160 years old, being formed initially in the mid 1800s. The emblem of the stagecoach, representing the company, grew out of its first venture into American business - as a stagecoach company. Building on that base, they added companies in related industries until 1905 when they merged with Nevada National Bank. They have remained a growing company through the years of depression and war. The name Wells Fargo & Company was created in 1960.
A leap into the large bank holding company it is today began with the merger with Norwest Financial in 1998. The decision was made to keep the Wells Fargo name. In the nine years between 2000 and 2009, Wells Fargo acquired 119 companies. These included Wachovia Financial. Between 2006 and 2011, Wells Fargo acquired 71 new companies and divested itself of 18. It is the largest bank in market capitalization.
Corporate Headquarters Locations
- Milwaukee, WI Wells Fargo Building
- Los Angeles, CA Wells Fargo Center
- Seattle, WA Wells Fargo Center
- Boise, ID Wells Fargo Center
- Spokane, WA Wells Fargo Center
- Albuquerque, NM Wells Fargo Center
- Minneapolis, MN Wells Fargo Center
- Denver, CO Wells Fargo Center
- Davenport, IA Wells Fargo Center
- West Des Moines, IA Wells Fargo Center
- Austin, TX Wells Fargo Center
- Norfolk, VA Wells Fargo Center
- Las Vegas, NV Wells Fargo Center
- Portland, OR Wells Fargo Center
- Salt Lake City, UT Wells Fargo Center
- Sacramento, CA Wells Fargo Center
- St. Louis, MO Wells Fargo Advisors Headquarters
- St. Paul, MN Wells Fargo Place
- El Paso, TX Wells Fargo Plaza
- Tacoma, WA Wells Fargo Plaza
- Houston, TX Wells Fargo Plaza
- Phoenix, AZ Wells Fargo Plaza
- Colorado Springs, CO Wells Fargo Tower
- Birmingham, AL Wells Fargo Towe
- Charlotte, NC One Wells Fargo Center
- Charlotte, NC Duke Energy Center
Subsidiaries of Wells Fargo & Company are the national banks headquartered in Sioux Falls, SD.
Why Wells Fargo & Company Appeals to Communities
Some of the top reasons communities welcome a Wells Fargo bank locating in their community are:1. Lending
The stand that Wells Fargo takes is that the local community knows best what that community needs and the bank lends to support local growth. In 2010, their investment in grants to nonprofits that support the home buyer was $32 million. They invested $2.3 billion in projects supporting housing, community services, and in ones designed to develop and revitalize communities.2. Support of Schools
The corporation donated $66.4 million around the U.S. for education in 8,000 school programs, as well as, $17.2 million in matching funds to educate employees.3. Support of Diversity in Businesses
Support of business enterprises owned by minorities totaled $621 million in 2010.4. Social Responsibility
At the end of September this year, the corporation had contributed $152 million to thousands of nonprofits. In addition, $1.3 billion went to support projects concerned with the environment.5. Stability
The fact that Wells Fargo has withstood the test of time is a factor that communities welcome. The years since 2007 have given communities insight into what it means for a bank to fail.