Wells Fargo is a financial institution that’s been around for more than a century. They’re one of the biggest banks in the world, and they’re one of the most successful. Wells Fargo didn’t end up at the top of the banking industry because it didn’t take any chances. The bank has merged with and acquired a number of companies over the years, and that’s been part of the reason for its vast success.
1905, 1923 and 1960
One of the biggest and first acquisitions that occurred in Wells Fargo History was in 1905. The company merged with Nevada National Bank. Though it wasn’t the first acquisition that the company entered into – there were several in the 1800s – it as the first of a string of large acquisitions that would turn it into one of the biggest banks in the world. The company merged in 1923 with the Union Trust Company and then the American Trust Company in 1960.
1986 – 1996
During this 10 year period of time, Wells Fargo acquired a number of banks that would help make it one of the largest in the world. The first was a bank by the name of Crocker National, followed in the next decade by the acquisitions of banks by the name of Barclay’s and First Interstate Bank.
1998
It was in 1998 that Wells Fargo made its biggest acquisition. The company made the decision the merge with a bank by the name of Norwest. Norwest was a large bank that spent several decades acquiring other banks. In that time, Norwest was one of the biggest banks in the world. During the acquisition, Norwest became Wells Fargo.
2000
This was the year that Wells Fargo took over exactly 10 other financial institutions. Less than 9 years later, the bank had officially acquired more than 119 financial institutions, making it one of the largest in the world. Wells Fargo has been around for centuries, which is part of the reason it’s one of the world’s most trustworthy and established financial institutions.
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