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About: Wells Fargo & Company (WFC)
Wells Fargo & Company is a U.S. bank holding company. It is currently the fifth largest in the country and ranked by assets and 4th measured by market value. The company operates in 3 major divisions, Community Banking, Wholesale Banking and Wells Fargo Financial. The Community Banking division offers traditional retail banking services such as personal checking accounts, certificates of deposit, savings and money market accounts. It also offers loan products including mortgage loans, home equity lines of credit and student loans. In addition it offers many other traditional banking products such as credit and debit card processing. The Wholesale banking division offers financial products for the commercial, corporate and real estate. This division offers traditional commercial services such as commercial real estate loan and lines of credit. It also offers institutional fixed income and equity sales, as well as investment management services. Wells Fargo Financial offers consumer loans as well as auto financing. At year end 2007, the company had over 482 billion in assets with 4319 billion in outstanding loans. Wells Fargo operates in all 50 states and currently has over 6000 branches and stores.
Not bad, Wells, not bad at all
July 15, 2008
That wasn't so bad at all. Wells Fargo reported earnings today and, unlike many other banks of late, it wasn't that bad. The bank reported total earnings of $1.8 billion ($.53 a share) down from $2.3 billion ($.67) a year...
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