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Essay / Research Paper Abstract
A 9 page paper discussing both pre and post merger health of these two banks that have combined to become the 7th largest in the country. Discussed in the paper are such items as capital adequacy, asset quality, liquidity and CAMELS, an internal-operation performed by bank examiners. Both were very well managed before their merger that became effective November 2, 1998, and the combined strength of the two holds promise for the resulting Wells-Fargo business entitiy. Bibliography lists 12+ sources.
Page Count:
9 pages (~225 words per page)
File: D0_WellsNor.doc
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Unformatted sample text from the term paper:
currency markets by the Asian currency crisis with further inhibiting effect from the late-summer stock market uncertainty, mergers in 1998 are down 11.9 percent through September 30. Only 107
new mergers were announced in 3Q98, making the quarter the one of lowest merger activity since 1Q97 (Anonymous, 1998). Wells Fargo and Norwest both gain advantage from their merger, though
each would have been fine had they remained separate entities. Though both are full service banks offering full financial services to their customers, Norwests focus was that of home
mortgages and community development through mortgage investment; Wells Fargos specialty is varied credit products. The merger was complete November 2, 1998, and the resulting entity retains the former specialties
of each bank (Anonymous, 1998). Diagnosis Wells-Fargo already had been much discussed outside of its merger activities in terms of business performance for their excellent performance for the period
of 1992-1996 (Hylton, 1996), a trend that has only continued. Earnings 3Q98 were $347 million for Wells-Fargo, which represents a 20 percent gain (Anonymous, 1998). Both banks were said
to be strong before the merger. Merrill Lynch analysts held Norwest slightly ahead of Wells-Fargo until it became obvious that the merger was going to occur as scheduled, after
which they raised their assessment of Wells-Fargo to match that of Norwest (Flannigan, 1998). Wells-Fargo was the second-largest bank in California before the merger. Now the entity resulting from
the merger is the seventh largest bank in the country, and the financial position of the whole is now greater than that of either of the banks before the merger
was completed (Flannigan, 1998). CAMELS Analysis This analysis is an insidious manipulation of aspects of the banks overall condition performed by federal examiners (Austin, 1996; Federal Reserve Board, 1998).
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