Wells Fargo is a large bank headquartered in Sioux Falls, SD. The bank operates 3421 branches in 25 states. Wells Fargo has deposits of $402.8 billion, and was established in January 1870.
This bank is FDIC insured - all deposits are protected for up to $250,000.
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About Wells Fargo
Wells Fargo & Co. is a diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the US by assets and the third largest bank by market cap. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit card. In 2007 it was the only bank in the United States to be rated AAA by S&P, though its rating has since been lowered to AA- in light of the 2008 Financial Crisis.
Headquartered in San Francisco, California (its bank, Wells Fargo Bank, N.A., is legally chartered in Sioux Falls, South Dakota), Wells Fargo is a result of an acquisition of California-based Wells Fargo & Co. by Minneapolis-based Norwest Corporation in 1998. The new company chose to keep the name Wells Fargo, to capitalize on the 150-year history of the nationally-recognized Wells Fargo name and its trademark stagecoach. After the merger, the company maintained its headquarters in San Francisco and charter in Sioux Falls.
As of 2009, Wells Fargo has 6,650 retail branches (called stores by Wells Fargo), 12,260 automated teller machines, 276,000 employees and over 48 million customers. Wells Fargo currently operates stores and ATMs under the Wells Fargo and Wachovia names. As of March 20, 2010 Wachovia Dealer Services became Wells Fargo Dealer Services.
Wells Fargo is one of the Big Four banks of the United States with Bank of America, Citigroup and JP Morgan Chase.