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Wells Fargo Bank, 2009 Timeline Saturday, April 21 Bookmark and Share     Author
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Wells Reports Record 1st Quarter Profit State sues Wells for $1.5 billion  Attorney General Jerry Brown is accusing the bank of deceptively marketing a type of financial instrument Industry analysts downgrade bank rating  2 analysts downgraded their ratings on Wells Fargo in recent days, citing the bank's stretched capital position and exposed home loan portfo... Wells asked to raise money  Regulators: The bank may need to shore up its finances after 'stress tests' showed the bank would have trouble surviving a deeper recession Wells freezes traditional pension plan  Wells Fargo will no longer contribute to their traditional pension plan, effectively cutting the total compensation of its workers Wells said to need $15 billion
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Bank Branches (2)   Wells Fargo Bank   San Francisco Bank   Record Profit (5)   Wells Fargo 1st Quarter Earnings
Wells lost $2.83 billion in 4th quarter  Wells Fargo is revealing signs of strain as the bank digests Wachovia. Still, the numbers were better than most analysts had expected $371.5 million Dividend To U.S. Treasury  The bank is coughing up a cool dividend of $371.5 million for the investment provided through the Troubled Asset Relief Program Wells Fargo cancels Vegas junket  The company abruptly canceled a pricey Las Vegas casino junket for employees after a criticism that it was misusing $25 billion in bailout m... CEO bullish about business Wells has investment fallout Wells shares fall on possible downgrade  Wells Fargo shares dropped nearly 16%, after Moody's may downgrade the company's long-term ratings as losses threaten the credit ratios Wells Fargo slashes dividend by 85% Wells Fargo sued over discrimination Record 1Q Profit For Wells
Wells has more branches than any bank

January 2009 ... more > Top ^
  Wells Fargo & Co., which began in 1852 as a 'Express and Banking House' serving gold miners, now controls more branches than any U.S. bank

February 2009 ... more > Top ^

March 2009 ... more > Top ^

April 2009 ... more > Top ^
  Wells Fargo expects record first-quarter earnings of $3 billion, easily surpassing analysts' estimates
 Stock surged $4.71, or 31.6 percent, to $19.60 in early trading

May 2009 ... more > Top ^
  Wells Fargo, the 4th-largest U.S. bank by assets, requires about $15 billion in new capital as a result of regulators' stress test on the lender
May.7 Wells plans $6 billion stock offering  Wells Fargo attempts to shore up its capital base following the results of government stress tests May.22 Ohio judge blocks Wells foreclosure sales  A judge has frozen sales of foreclosed homes in Cleveland owned by Wells Fargo to make sure its properties meet city codes

July 2009 ... more > Top ^
Jul.22 Wells Posts 2Q Profit, Surpasses Forecast
  Wells Fargo said some of its loan losses came from the continuing cleanup of the loan portfolio acquired along with struggling Wachovia

September 2009 ... more > Top ^
Sep.4 Wells will repay feds $25 billion soon  Wells Fargo & Co. said it didn't need feds $25 billion in the first place. Wells brought in $14.2 billion in new capital in the second quart... Sep.22 Chairman Kovacevich to step down
  Dick Kovacevich will step down as chairman at the end of 2009, after staying in the post an extra year to help navigate the financial crisis.    CEO John Stumpf, who is 56, takes the additional role of chairman Read more: http://ww...

October 2009 ... more > Top ^
Oct.4 Wells Fargo cutting credit  The readers saying banks have cut off their credit for no apparent good reason, and sometimes without warning Oct.21 3Q profit rises, but so do loan losses  Wells Fargo reported a $2.6 billion profit as the retail banking operations, including the acquired with Wachovia, offset rising loan losses

November 2009 ... more > Top ^
Nov.18 Wells to repay $1.4B to investors
  Bank agreed to settle allegations that the bank promised strong returns on auction-rate securities before the markets froze

December 2009 ... more > Top ^
Dec.1 Wells to close or rename Wachovia outlets
  Wells Fargo & Co. will close some branches and convert the rest to the Wells name in April, adding 65 locations statewide Dec.15 Wells Fargo to repay TARP money
  At least two analysts upgraded Wells Fargo & Co., a day after the national bank said it would repay $25 billion in bailout money Dec.23 Wells Fargo repay TARP
  Wells Fargo & Co. and Citigroup Inc. said that they repaid $45 billion they received from the Troubled Asset Relief Program
Dec.31 Wells Fargo sued over loans  Memphis city and Shelby County officials have filed a federal civil lawsuit against the bank alleging discriminatory mortgage lending practi...

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