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Wells Fargo, Wachovia Integrate Banking Operations In California

Wells Fargo and Wachovia have combined their banking operations in California as part of their merger. Wells Fargo now has 1,043 banking stores in California and more than 3,200 ATMs, offering 4.5 million customers convenience and providing continued support to local communities.

Recently, 100 Wachovia banking stores and 18 Wells Fargo stores were consolidated into nearby banking stores statewide. California follows Arizona, Nevada, Illinois, and Colorado whose Wachovia and Wells Fargo stores have already combined.

The Wachovia brand will become Wells Fargo in other states throughout 2010 and 2011 as part of the merger.

In addition, the combination of the two companies means there are now more than 1,800 Wells Fargo advisors and Wells Fargo investments financial advisors in California providing investment services and solutions in Wells Fargo banking stores, and nearly 120 retail brokerage branch locations. Customers also may obtain financial services through 145 Wells Fargo home mortgage locations, 90 Wells Fargo financial stores and 22 commercial banking offices.

Lisa Stevens, regional president of California at Wells Fargo, said: “We welcome our Wachovia customers in California, who now have 1,043 banking stores throughout the state – more than 850 more stores than before – where they will continue to receive outstanding service and even more financial products to help them succeed financially.”

On December 31, 2008, Wachovia became a part of Wells Fargo. At that time, there were six states where both Wells Fargo and Wachovia had retail banking operations: Colorado, Arizona, Nevada, Illinois, Texas and California. Colorado was the first state to transition in November 2009. Banking stores in Arizona, Nevada and Illinois combined operations last month.

The transition in Texas is planned for July, and the Wachovia retail banking transition to Wells Fargo in the East and Southeast will start later in 2010 and continue through 2011.