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Wells Fargo

Wells Fargo & Co. is a publicly traded company with a good stock performance record.  It is also a fortune 500 stock listed company trading under the symbol WFC. The company was founded in 1929 and is headquartered in San Francisco, California.
Wells Fargo & Company engages in banking and related financial services businesses in the United States. It operates in three segments: Community Banking, Wholesale Banking, and Wells Fargo Financial. Wells Fargo & Company is a diversified financial services company with 482 billion dollar in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,200 stores and the internet across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the United States to receive the highest possible credit rating, AAA from Moody’s Investors Service.
Well Fargo & Company reported record diluted earnings per amount share of 4.50 for 2005, compared with 4.09 dollars in 2004, up 10 percent. Net income was a record 7.7 billion dollars, up 9 percent from 7.0 billion dollars in 2004. For fourth quarter 2005, net income was 1.9 billion dollars, or 1.14 dollars per share, compared with 1.8 billion dollars or 1.04 dollars per share, for fourth quarter 2004, an increase in earnings per share of 10 percent.
The full year revenue of 33 billion dollars a new record grew 10 percent from 2004 reveue of 30 billion dollars. Revenue of 8.5 billion dollars for fourth quarter 2005 grew 324 million dollars, or 4 percent, from a year ago. Revenue growth was offset by a 77 million dollars decline in equity gains and a 127 million dollars increase in losses on the sale of debt securities from fourth quarter 2004. Home Mortgage revenue declined 178 million dollars from 1.32 billion dollars in fourth quarter 2004 to 1.15 billion dollars in fourth quarter 2005. Combined revenue of business other than Home Mortgage grew 7 percent from fourth quarter 2004 to fourth quarter 2005.
The company has committed themselves to the success of the business, to the pursuit of excellence, to the safety.

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