This Date in Wells Fargo History This Date in Wells Fargo History. en Copyright 2016, Wells Fargo. All rights reserved. NMLSR ID 399801 Sat, 01 Oct 2016 history 360 Sat, 01 Oct 2016

October 1, 1872. Business was looking up in Minneapolis, Minnesota. The Northern Pacific Railroad was building new tracks across the state, bringing commerce along with it. The railroad needed adequate banking facilities to handle finance and payroll. William G. Fargo and other directors of the Northern Pacific Railroad encouraged local business leaders to establish a new bank in town. Fargo personally subscribed to one hundred shares in the initial offering of stock in the new North Western National Bank of Minneapolis. One hundred and twenty-six years later, the successor to this bank, Norwest Corporation, merged with another company founded by William G. Fargo, Wells Fargo & Company.

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