Wells Fargo

Banking and financial services company.

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Headquarters:
420 Montgomery St.
San Francisco, CA 94104
Employees: 264,700
CEO: John Stumpf
Stock Symbol: WFC

Website: http://www.wellsfargo.com

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Wells Fargo is one of the nation's top financial services companies - providing banking, insurance, investments, mortgage and consumer finance. The company provides consumer banking in 39 states and mortgages in all 50 states.

Wells Fargo has over 8,700 branches and 13,000 ATMs with offices in 36 countries.

The company says it has 26.4 million active online customers and 16.2 million who use mobile banking.

Wells Fargo reported $1.8 trillion in assets at the beginning of 2016.

The company ranks No. 1 in customer satisfaction for banks in a survey for the American Consumer Satisfaction Index.

In 2015, Wells Fargo reported revenues of $86.05 billion, up 2% from the previous year, and net income of $23 billion. The company had $916.6 billion in total loans at the end of 2015. Average core deposits at the end of the year were $1.2 trillion.

Chairman and CEO John Stumpf said, "Full year and fourth quarter 2015 results demonstrated the benefit of our diversified business model as we again generated strong financial results, maintained our risk discipline and continued to invest across the company for future growth. We remained focused on the building blocks of long-term shareholder value, with continued growth in loans, deposits and capital. For the 5th consecutive year, we returned more capital to shareholders than the prior year. I am proud of the dedication of our team members and their focus on helping our customers succeed financially."

History

In 1852, Henry Wells and William Fargo founded Wells, Fargo & Co. to serve the West. The new company offered banking (buying gold, and selling paper bank drafts as good as gold) - and express (rapid delivery of the gold and anything else valuable).

Wells Fargo opened for business in the gold rush port of San Francisco, and soon Wells Fargo's agents opened offices in the other new cities and mining camps of the West. In the boom and bust economy of the 1850s, Wells Fargo earned a reputation of trust by dealing rapidly and responsibly with people's money. In the 1860s, it earned everlasting fame - and its corporate symbol - with the grand adventure of the overland stagecoach line.

The company has museums in nine cities across the country that provide free history of Wells Fargo.

Wells Fargo acquired Wachovia Bank in 2008 for $15.1 billion in stock.

Benefits

Here are some of the benefits offered to Wells Fargo employees:

- Paid Time Off - 20-35 days off each year, depending upon length of service. Six holidays observed each year.
- Medical, Dental & Vision Plans - Choice of plans offered
- Matched 401(k) Plan - Company matches first 6% of contributions
- Disability/Life Insurance
- Commuter Benefits
- Tuition Reimbursement - Up to $5,000 per year
- Financial Products Discounts
- Stock Purchase Plan
- Cash Balance Plan - 3-7% of compensation is credited each quarter
- Flexible Spending Accounts

Updated January 23, 2016

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