Wells Fargo

Outlook also better for capital spending and credit availability

SAN FRANCISCO -- November 3, 2009 -- Optimism among small business owners improved during October, driven by improved outlook for revenue, capital spending and hiring, according to the latest results of the quarterly Wells Fargo/Gallup Small Business Index.

Concluded October 9, the latest Wells Fargo/Gallup Small Business Index optimism score came in at negative 15 (-15), a net six-point increase from the previous survey (conducted in July, 2009), and 129 points lower than the Index high of 114 (conducted December, 2006). A score of zero indicates that small business owners, as a group, are neutral -- neither optimistic nor pessimistic -- about their companies’ situations.    » read more »

WASHINGTON, DC- On the heels of a strongly-worded letter to the CitiGroup CEO requesting major credit card companies, including Citigroup, avoid changing credit card account terms before federal regulations on the industry take effect early next year, U.S. Congressman John Boccieri (D-Alliance) today with 17 of his House colleagues sent a letter to the Chief Executive Officer of Wells Fargo bank, calling on him to reverse his bank's recent decision to suddenly increase rates on their customers by 3 percent, and join other credit card companies who have pledged to not increase rates in advance of the effective date of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act).    » read more »

Continues focus on reducing environmental footprint by launching solar energy pilot, extending efforts to make retail banking stores greener

SAN FRANCISCO — October 14, 2009 -- Wells Fargo & Company (NYSE: WFC) announced today that it has set a goal to reduce its U.S. –based greenhouse gas emissions by 20 percent below 2008 levels by 2018.

The Company is focusing on reducing its carbon footprint as part of its continued environmental commitment to lead by example and to fulfill its pledge as a member of the U.S. Environmental Protection Agency’s (EPA’s) Climate Leaders program, which Wells Fargo joined last year.    » read more »

62,989 Home Affordable Modifications done under U.S. program through Sept. 30; total of 354,994 trial and completed modifications done in 2009

DES MOINES, Iowa — October 8, 2009 -- Wells Fargo & Company (NYSE:WFC) said today that it has done 62,989 trial and completed Home Affordable Modifications through Sept. 30; nearly double what the U.S. Treasury reported last month. Also, using its own programs, Wells Fargo has done 292,005 trial and completed home loan modifications.

This brings the total number of modifications Wells Fargo has done this year to 354,994; a 25 percent increase over last month. In addition, the company has refinanced about 987,000 mortgage loans, thereby assisting more than 1.3 million households this year with mortgage payment relief.    » read more »

Cannot Be Sold Until U.S. Capital Purchase Program Investment Re-Paid

SAN FRANCISCO — August 6, 2009 -- Wells Fargo & Company’s (NYSE: WFC) Board of Directors approved increases in the 2009 annual base salaries of President and CEO John G. Stumpf and three other executive officers. These increases will result in total annual compensation close to the average pay for similar executive roles at peer group companies and are payable, after taxes and other withholding, entirely in Company stock which the executives cannot sell until Wells Fargo repays the U.S. Treasury’s Capital Purchase Program (CPP) investment in the Company.    » read more »

First projects with University of California, Merced and Western Riverside County Regional Wastewater Authority

SAN FRANCISCO and SAN JOSE, CA — June 29, 2009 -- Wells Fargo (NYSE: WFC) and SunPower Corp. (Nasdaq: SPWRA, SPWRB) today announced a new collaborative effort to fund up to $100 million in SunPower commercial-scale solar systems.    » read more »

San Francisco -- June 4, 2009 -- Wachovia Preferred Funding Corp. (NYSE: WNAPr) announced today that its board of directors has declared a regular quarterly dividend on its Series A 7.25% preferred securities. The dividend is equal to $0.453125 per Series A security.

The dividend is payable on June 30, 2009, to holders of record as of the close of business on June 15, 2009.

Wachovia Preferred Funding Corp. (NYSE: WNAPr) is an indirect subsidiary of Wells Fargo & Company and is qualified as a real estate investment trust for federal income tax purposes.

Source: Wells Fargo & Company

San Francisco — May 29, 2009 -- Sstatement from Wells Fargo & Company (NYSE: WFC) regarding Emerisque’s offer for Hartmarx Corp.:

The group of banks led by Wells Fargo as agent, which has provided credit to Hartmarx Corp., said today it opposes Emerisque’s offer to acquire Hartmarx, which has been in Chapter 11 since January 2009 and has been unable to repay more than $114 million that it owes the bank group.    » read more »

Some pay down debt, save more since last year

San Francisco — May 19, 2009 -- A Wells Fargo & Company (NYSE: WFC) quarterly survey found that nearly one in four homeowners (24 percent) do not have any savings to cover their living expenses should they lose their income. At the same time, anxiety over job stability increased significantly (from 21 percent to 29 percent indicating jobs as their top concern) since fourth quarter 2008, the last time the survey was done.    » read more »

San Francisco — May 18, 2009 -- According to the Wells Fargo/Gallup Small Business Index, surveyed April 1-14, small business owners’ optimism for the future rose for the first time since 2007. The “future expectations” (next 12 months) score rose nine points (to 10) while the “present situation” score dropped 6 points to negative eleven (-11). These metrics comprise the overall Index score, which reflects six key measures: financial situation, cash flow, revenues, capital spending, job hiring and credit availability.    » read more »

San Francisco — May 15, 2009 -- Wells Fargo & Company (NYSE: WFC) today announced dividends on two series of preferred stock.

A quarterly cash dividend of $20 per share was declared on its 8.00% non-cumulative perpetual class A preferred stock, Series J, liquidation preference $1,000 per share. This dividend equals $0.50 per depositary share, each representing a 1/40th interest in a share of Series J preferred stock, which are traded on the New York Stock Exchange under the symbol “WFCPrJ.” The Series J dividend is payable on June 15, 2009, to holders of record as of the close of business on May 29, 2009.    » read more »

Hotline and Website to Support Workers and Small Business Owners as Big Banks Push to Liquidate

May 14, 2009 -- Washington, DC--Today, the Service Employees International Union (SEIU) launched a toll-free hotline and website--Keep America Working--to support small business owners and workers facing job loss because of frozen credit and liquidation at the hands of bailed-out banks. The new hotline number is 877-286-1Job and will be open Monday-Friday from 8 am to 6 pm EDT, and the new website is www.keepworkinghotline.org.    » read more »

San Francisco — May 14, 2009 -- Wells Fargo & Company (NYSE: WFC) today announced a total quarterly dividend of $312.5 million payable to the U.S. Treasury on its 25,000 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series D purchased from the Company as part of the department’s Capital Purchase Program (CPP).

The dividend of $12,500.00 per share is payable May 15, 2009. The U.S. Treasury is the only holder of record of the Series D preferred stock.    » read more »

All Additional Shares Available Purchased in One Day

San Francisco — May 8, 2009 -- Wells Fargo & Company (NYSE: WFC) said today that underwriters in Wells Fargo’s public offering of 341 million shares of common stock have fully exercised their option to purchase an additional 51.150 million shares. This represents 15 percent of the shares purchased in the original offering.

The combination of the original offering of 341 million shares of common stock plus the additional 51.150 million shares results in a total offering of 392.15 million shares of common stock valued at $8.6 billion.    » read more »

Expects to Fulfill $13.7 Billion Capital Requirement Through Earnings, Other Internally-Generated Sources and Announced Common Equity Offering; Federal Reserve, Wells Fargo agree on future loan loss assumptions

San Francisco -- May 7, 2009 -- Wells Fargo & Company (NYSE:WFC) said today it is pleased that the Federal Reserve has confirmed that Wells Fargo has enough total capital even in a severe economic stress scenario.    » read more »