Wells Fargo 2008 Annual Report Download - page 104

Download and view the complete annual report

Please find page 104 of the 2008 Wells Fargo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 172

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172

๎€Š๎€‰๎€‹
(in millions) Date Assets
2008
Flatiron Credit Company, Inc., Denver, Colorado April 30 $ 332
Transcap Associates, Inc., Chicago, Illinois June 27 22
United Bancorporation of Wyoming, Inc., Jackson, Wyoming (1) July 1 2,110
Farmers State Bank of Fort Morgan Colorado, Fort Morgan, Colorado December 6 186
Century Bancshares, Inc., Dallas, Texas December 31 1,604
Wells Fargo Merchant Services, LLC (2) December 31 1,251
Other (3) Various 52
$ 5,557
2007
Placer Sierra Bancshares, Sacramento, California June 1 $ 2,644
Certain assets of The CIT Group/Equipment Financing, Inc., Tempe, Arizona June 29 2,888
Greater Bay Bancorp, East Palo Alto, California October 1 8,204
Certain Illinois branches of National City Bank, Cleveland, Ohio December 7 61
Other (4) Various 61
$13,858
2006
Secured Capital Corp/Secured Capital LLC, Los Angeles, California January 18 $ 132
Martinius Corporation, Rogers, Minnesota March 1 91
Commerce Funding Corporation, Vienna, Virginia April 17 82
Fremont National Bank of Canon City/Centennial Bank of Pueblo,
Canon City and Pueblo, Colorado June 7 201
Certain assets of the Reilly Mortgage Companies, McLean, Virginia August 1 303
Barrington Associates, Los Angeles, California October 2 65
EFC Partners LP (Evergreen Funding), Dallas, Texas December 15 93
Other (5) Various 20
$ 987
(1) Consists of five affiliated banks of United Bancorporation of Wyoming, Inc., located in Wyoming and Idaho, and certain assets and liabilities of United Bancorporation of Wyoming, Inc.
(2) Represents a step acquisition resulting from the increase in Wells Fargoโ€™s ownership from a 47.5% interest to a 60% interest in the Wells Fargo Merchant Services, LLC joint venture.
(3) Consists of twelve acquisitions of insurance brokerage businesses.
(4) Consists of six acquisitions of insurance brokerage and third party health care payment processing businesses.
(5) Consists of seven acquisitions of insurance brokerage businesses.
We regularly explore opportunities to acquire financial
services companies and businesses. Generally, we do not make
a public announcement about an acquisition opportunity
until a definitive agreement has been signed.
In addition to the Wachovia acquisition, business combinations
completed in 2008, 2007 and 2006 are presented below.
For information on additional consideration related to
acquisitions, which is considered to be a guarantee, see Note 15.