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M&A Deal Summary

Wells Fargo Acquires First Security

On April 10, 2000, Wells Fargo acquired financial services company First Security for 3.2B USD

Acquisition Highlights
  • This is Wells Fargo’s 6th transaction in the Financial Services sector.
  • This is Wells Fargo’s 3rd largest (disclosed) transaction.
  • This is Wells Fargo’s 6th transaction in the United States.
  • This is Wells Fargo’s 1st transaction in Utah.

M&A Deal Summary
Date 2000-04-10
Target First Security
Sector Financial Services
Buyer(s) Wells Fargo
Deal Type Merger
Deal Value 3.2B USD

Target

First Security

Salt Lake City, Utah, United States
First Security Corp., a independent bank company in the western United States. Among its subsidiaries are CrossLand Mortgage and FS Van Kasper, a full service investment banking and brokerage business with 12 regional offices.

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Buyer(S) 1

Buyer

Wells Fargo

San Francisco, California, United States
Category Company
Founded 1852
Sector Financial Services
Employees222,544
Revenue 82.6B USD (2023)
DESCRIPTION
Wells Fargo's corporate headquarters in downtown San Francisco, California.
Wells Fargo's corporate headquarters in downtown San Francisco, California.

Wells Fargo is a diversified financial services company that provides retail, commercial and corporate banking services through banking stores and offices, the internet and other distribution channels to individuals, businesses and institutions in all 50 US states, the District of Columbia and in other countries. Wells Fargo provides other financial services through subsidiaries engaged in various businesses, principally: wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, insurance agency and brokerage services, computer and data processing services, trust services, investment advisory services, mortgage-backed securities servicing and venture capital investment. Wells Fargo was formed in 1852 and is based in San Francisco, California.

DEAL STATS #
Overall 6 of 23
Sector (Financial Services) 6 of 17
Type (Merger) 2 of 5
State (Utah) 1 of 1
Country (United States) 6 of 23
Year (2000) 1 of 2
Size (of disclosed) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-10 Eastdil Secured

New York, New York, United States

Eastdil Secured is a real estate investment banking firm. Eastdil provides property sales, debt placements, m& services, private equity transactions, corporate transactions, and mortgage sales. Eastdil was formed in 1967 and acquired Secured Capital Corp in 2006.

Buy $150M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-07-17 National Bancorp of Alaska

Anchorage, Alaska, United States

National Bancorp of Alaska operates 53 banking stores and 150 ATMs in 29 communities across Alaska and one banking store in Seattle.

Buy -
Mergr

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