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Remaining Wachovia Banking Locations to Become Wells Fargo by Mid-October 2011

^{Published on 2011-05-16 06:06:13 - Market Wire}
 

CHARLOTTE, N.C.--([ BUSINESS WIRE ])--Wells Fargo & Company (NYSE:WFC) announced today that all remaining Wachovia signs and systems will change to Wells Fargo by mid-October 2011:

"These conversions will complete our retail bank merger process, which started almost two years ago"

• Virginia will convert in August.
• Maryland, South Carolina, and Washington, D.C., will convert in September.
• North Carolina will convert 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, the result of the largest merger in U.S. banking history.

See the chart below for details about the number of stores, ATMs, team members, deposits, and charitable giving in each of the five locales.

aThese conversions will complete our retail bank merger process, which started almost two years ago,a said Pete Jones, regional president for Mid-Atlantic Community Banking. aAll along, our goals have been to do these conversions as smoothly as possible and to deliver continuous service to our customers before, during, and after the transition. For now, ita™s business as usual for our customers in the Carolinas and Mid-Atlantic. They will receive complete details on what to expect well in advance of any changes. Ita™s important to note that while our signs are changing, our customers can continue to rely on the same great service from the same tellers and bankers they know and trust, at the same banking locations.a

Wells Fargo is the 12^th largest employer in the U.S. with approximately 280,000 team members; the company employs more than 32,800 in the Carolinas and more than 14,400 in the Mid-Atlantic region (Virginia, Maryland, and Washington, D.C.).

Wachoviaa™s transition to Wells Fargo, which began with completion of the merger on December 31, 2008, has involved hiring hundreds of additional tellers and bankers across the Carolinas and Mid-Atlantic. They will help deliver a wider array of Wells Fargo financial products and services, including renters insurance, identity theft protection, and credit card and merchant services for small businesses to help customers succeed financially.

aWe take great pride in the fact that North Carolina, Wachoviaa™s home state, will provide the exclamation point to this merger and the thorough, thoughtful, and respectful process we followed. Wea™re committed to honoring the Wachovia legacy and history as we introduce our customers to Wells Fargo, and wea™re ready and excited to move forward,a said Stan Kelly, regional president for Carolinas Community Banking. aI believe our customers will embrace Wells Fargo because we remain committed to our local communities and doing whata™s best for our customers.a

Wachovia banking locations in the four states and the District of Columbia are currently being remodeled to reflect Wells Fargoa™s distinctive red and gold colors and an open floor plan. In addition, each store will have an online banking station, and many stores will feature murals depicting community history, produced with the support and involvement of local historical societies.

All Wachovia ATMs in the four states and the District of Columbia have already been replaced with Wells Fargoa™s state-of-the-art, environmentally friendly Envelope-Free^SM ATMs that eliminate the need for envelopes or deposit slips and accept up to 30 checks or 50 cash bills. These ATMs also help small businesses by offering an 8:00 p.m. deadline for check deposits with money available at midnight, meaning deposits can be made after the close of the business day. ATM customers can choose to have their transaction screens displayed in one of eight languages: English, Spanish, Chinese, Hmong, Korean, Vietnamese, French, and Russian.

Wells Fargo most recently converted former Wachovia banking locations in Connecticut, New York, and Pennsylvania. Florida locations will convert in June and July of 2011. Wells Fargo has also 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 Mortgagea™s change to Wells Fargo Home Mortgage and combining brokerage operations under Wells Fargo Advisors.

By the numbers

(Store, ATM and team member data as of March 31, 2011; Deposit data from FDIC as of June 30, 2010)

About Wells Fargo

Wells Fargo & Company (NYSE:WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With approximately 280,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortunea™s 2011 rankings of Americaa™s largest corporations. Wells Fargoa™s vision is to satisfy all our customersa™ financial needs and help them succeed financially.