|
|
Article: WELLS FARGO TO ACQUIRE CROCKER NATIONAL BANK
- Article from:
- THE JOURNAL RECORD
- Article date:
- April 30, 1986
CopyrightCopyright (null) The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
|
WASHINGTON (AP) - The Federal Reserve Board announced approval
Tuesday for Wells Fargo & Co. to buy Crocker National Corp., an
acquisition that would make Wells Fargo the 10th largest bank holding
company in the country.
Both banks have their headquarters in San Francisco. Wells Fargo
is now the nation's 13th largest bank holding company; Crocker
National is the 25th largest.
The Federal Reserve Board's approval, which was necessary before
the merger could go through, came on a 5-0 vote.
Britain's Midland Bank PLC on Feb. 7 announced it had agreed to
sell its 100 percent interest in Crocker National Corp. to Wells
Fargo in a deal valued at $1.07 billion.
The board said it was granting ...