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Wells Fargo rebrands remaining Wachovia banks
//May 16, 2011
CHARLOTTE, N.C. — Wells Fargo & Co. said Monday it plans to complete the rebranding of all remaining Wachovia banks and facilities by the middle of October.
Wachovia sites in Virginia will be rebranded to Wells Fargo in August. Properties in Maryland, South Carolina, and Washington, D.C., will be rebranded in September. North Carolina site conversions will be completed in October.
The rebranding of 868 stores and 1,487 ATMs in the four states and the District of Columbia will complete the transition from Wachovia to Wells Fargo, which started about two years ago.
Wells Fargo purchased Wachovia on Dec. 31, 2008, in a $12.7 billion all-stock deal. Wachovia ran into deep trouble because of its exposure to bad mortgages right before the housing bubble burst.
Wells Fargo most recently converted former Wachovia banking locations in Connecticut, New York, and Pennsylvania. Florida locations will convert in June and July.
Wells Fargo also has converted Wachovia stores in Alabama, Arizona, California, Colorado, Delaware, Georgia, Illinois, Kansas, Mississippi, Nevada, New Jersey, Tennessee, and Texas.
Other integrations already completed include Wachovia Mortgage’s change to Wells Fargo Home Mortgage and combining brokerage operations under Wells Fargo Advisors.
San Francisco-based Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet, and other distribution channels. It has about $1.2 trillion in assets.
Shares rose 22 cents, or 1.2 percent, to $28.15 in midday trading.
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