The Community Banking Group offers a complete line of diversified financial products
and services to consumers and small businesses with annual sales generally up
to $10 million in which the owner generally is the financial decision maker. Community
Banking also offers investment management and other services to retail customers
and high net worth individuals, insurance, securities brokerage and insurance
through affiliates and venture capital financing. These products and services
include Wells Fargo Funds® , a family of mutual funds, as well as personal trust,
employee benefit trust and agency assets. Loan products include lines of credit,
equity lines and loans, equipment and transportation (auto, recreational vehicle
and marine) loans, education loans, origination and purchase of residential mortgage
loans and servicing of mortgage loans and credit cards. Other credit products
and financial services available to small businesses and their owners include
receivables and inventory financing, equipment leases, real estate financing,
Small Business Administration financing, venture capital financing, cash management,
payroll services, retirement plans, medical savings accounts and credit and debit
card processing. Consumer and business deposit products include checking accounts,
savings deposits, market rate accounts, Individual Retirement Accounts (IRAs),
time deposits and debit cards.
Community Banking serves customers through a wide range of channels, which
include traditional banking stores, in-store banking centers, business centers
and ATMs. Also, PhoneBankSM centers and the National Business Banking Center
provide 24-hour telephone service. Online banking services include single sign-on
to online banking, bill pay and brokerage, as well as online banking for small
business.
The Wholesale Banking Group serves businesses across the United States with
annual sales generally in excess of $10 million. Wholesale Banking provides
a complete line of commercial, corporate and real estate banking products and
services. These include traditional commercial loans and lines of credit, letters
of credit, asset-based lending, equipment leasing, mezzanine financing, high-yield
debt, international trade facilities, foreign exchange services, treasury management,
investment management, institutional fixed income and equity sales, online/electronic
products, insurance brokerage services and investment banking services. Wholesale
Banking includes the majority ownership interest in the Wells Fargo HSBC Trade
Bank, which provides trade financing, letters of credit and collection services
and is sometimes supported by the Export-Import Bank of the United States (a
public agency of the United States offering export finance support for American-made
products). Wholesale Banking also supports the commercial real estate market
with products and services such as construction loans for commercial and residential
development, land acquisition and development loans, secured and unsecured lines
of credit, interim financing arrangements for completed structures, rehabilitation
loans, affordable housing loans and letters of credit, permanent loans for securitization,
commercial real estate loan servicing and real estate and mortgage brokerage
services.
Wells Fargo Financial includes consumer finance and auto finance operations.
Consumer finance operations make direct consumer and real estate loans to individuals
and purchase sales finance contracts from retail merchants from offices throughout
the United States, Canada and in the Caribbean. Automobile finance operations
specialize in purchasing sales finance contracts directly from automobile dealers
and making loans secured by automobiles in the United States and Puerto Rico.
Wells Fargo Financial also provides credit cards and lease and other commercial
financing.