CEO Dick Kovacevich

Okay, let's just forget Cramer uses my Wells Fargo in 1990 analogy from 2 weeks ago in the interview. What is more important is what Stumpf has to say. There is a commercial break in the middle of the video so do not tune out, there is more after. Cramer actually said, "I like to challenge my own thesis when I am bullish on a stock because these are just pieces of paper." Doesn't that go against everything you are ever taught about investing and buying "pieces of great companies... Read Full Story

Wells Fargo & Co. and Century Bancshares Inc. said that they have signed a definitive agreement for Wells Fargo to acquire Century Bancshares and its banking operations in Dallas-Fort Worth, and Texarkana, Texas and Arkansas in a stock-for-stock merger.   Century Bank is owned by Truman Arnold, a Texarkana oilman and investor who bought the former First National Bank of New Boston and renamed it in 1998. Before entering banking, Arnold built a successful multistate chain of Road Runner... Read Full Story

So, is this a repeat of 1990-1991? While the other banks are going bust, shedding assets and dumping garbage on their books for pennies on the dollar, Wells Fargo (WFC) quietly stays above the fray and expands. Today it announced the purchase of Century Bancshares ( From the release: "Wells Fargo & Company (NYSE:WFC) and Century Bancshares, Inc. said today they have signed a definitive agreement for Wells Fargo to acquire Century Bancshares and its banking operations in Dallas-Fort Worth... Read Full Story

Wells Fargo & Co. and Century Bancshares, Inc. have signed a definitive agreement for Wells Fargo to acquire Century Bancshares and its banking operations in Dallas-Fort Worth, and Texarkana, Texas and Arkansas in a stock-for-stock merger. As a result of the acquisition, Arkansas will become Wells Fargo’s 24th community banking state. The acquisition – requiring approval of regulators and Century Bancshares shareholders, and expected to be completed by the end of this year – will increase... Read Full Story

The Associated Press says Wells Fargo & Co. is notifying some 5,000 people that their personal information might have been seen by someone using a bank access code illegally. A bank spokeswoman said Tuesday that MicroBilt Corp., a consumer data vendor, told Wells Fargo on July 1 that there was unusual activity on one of the bank's access codes. The activity was particularly suspicious because Wells Fargo no longer uses that particular vendor for consumer information."We notified law... Read Full Story