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Wells Fargo


Wells Fargo

Wells Fargo & Company (NYSE: WFC) is the fourth largest bank in the United States by assets with operations around the world. Wells Fargo has over 6,000 retail branches, over 12,000 ATMs and over 70 million customers.

About Wells Fargo

Wells Fargo began in 1852 when Henry Wells and William Fargo founded Wells, Fargo & Company. The business offered banking through buying gold and selling paper bank drafts as good as gold, as well as express delivery of gold and any other valuables. Wells Fargo was open for business in San Francisco during the gold rush and quickly earned a reputation as being trustworthy of fast and reliable transactions with people's money.

Wells Fargo did conducted business through stagecoach, steamship, railroad, pony rider or telegraph. In 1858, it helped star the Overland Mail Company for quick communications in the west. After the transcontinental railroad was completed in 1869, Wells Fargo began to use railroads more and more often. Once the rails were expanded into the Northeast and New York, Wells Fargo became the country's first nationwide express company.

By 1910, Wells Fargo's network linked 6,000 locations across the United States. It was around this time that Wells Fargo's bank in San Francisco had separated from the express company, surviving the 1906 San Francisco earthquake and fire. Through the 1920's, Wells Fargo served as a commercial bank. Then, during the 1920's, it expanded to serve the west into two banking halls.

By the 1960's, Wells Fargo was a premiere northern California bank, with locations everywhere that people lived. Within 20 years, it became statewide in California and the seventh largest bank in the nation. It began to expand throughout the west, midwest and east in the 1990's, and also introduced online services.

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