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By the end of 1994, Norwest had become the 11th largest bank in the United States with total assets of $88.54 billion. With a branch network covering 16 states, Norwest had the largest contiguous bank franchise in the nation. Its strongest markets were in Minnesota, Texas, Colorado, and Iowa. Having only entered Texas in 1993, Norwest had built ...
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.
Continuing the Norwest tradition of making numerous smaller acquisitions each year, Wells Fargo acquired 13 companies during 1999 with total assets of $2.4 billion. The largest of these was the February purchase of Brownsville, Texas-based Mercantile Financial Enterprises, Inc., which had $779 million in assets.
Norwest would ultimately merge with Wells Fargo in 1998, and the bank has been the firm’s primary LP ever since. Norwest’s story seems to be one of a slow, deliberate expansion—and it could ...
Bank of America: 1991 Norwest Corporation: United Bank of Denver Norwest Corporation Wells Fargo: 1991 Wachovia: The South Carolina National Bank Wachovia: Wells Fargo: 1991 First Union Corporation: Southeast Banking Corporation: First Union Corporation: Wells Fargo: 1991 NBD Bancorp: Summcorp NBD Bancorp: $323 million [25] JPMorgan Chase: 1991 ...
Norwest Corporation, a bank based in Minneapolis, Minnesota that operated from 1929 to 1998; Norwest United, an Association Football Club in Auckland, New Zealand; Norwest Venture Partners, an investment firm based in Palo Alto, California; Rochdale Society of Equitable Pioneers, a co-operative that traded as Norwest from 1982 to 1991
Silicon Valley Bank, one of the leading lenders to the tech sector, was shut down by regulators Friday over concerns about its solvency. The move caused a wider sell-off in stocks and sparked ...
The merged company took the better-known Wells Fargo name and moved to Wells Fargo's hub in San Francisco. At the same time, Norwest's banking subsidiary merged with Wells Fargo's Sioux Falls-based banking subsidiary. Wells Fargo became a coast-to-coast bank with the 2008 acquisition of Charlotte-based Wachovia.