Wells Fargo, now with Ark. presence, still looking for deals

In August, Wells Fargo acquired Century Bancshares Inc., which was previously owned by Texarkana oilman and investor Truman Arnold. That transaction involved 24 branches of Century Bank, many on both sides of State Line Avenue here in Texarkana. The acquisition means that Arkansas will become the 24th state in which Wells Fargo has operations.

Now, Wells Fargo is continuing to look for other deals. It considered Wachovia and Washington Mutual last month, but lost deals to larger rivals Citigroup and JPMorgan Chase. Worth $124 billion, the bank is now the nation's seventh largest largest, since it was passed last month by holding companies Morgan Stanley and Goldman Sachs. This is one bank whose conservative lending is starting to look brilliant. The local employees of Century Bank are awaiting word on employment. Here's more on Wells Fargo from today's New York Times.