Wells Fargo Opens First Commercial Banking Office In Oklahoma
Oklahoma City, Oklahoma — March 27, 2007
Wells Fargo & Company (NYSE:WFC) said today it has opened its first Regional Commercial Banking Office (RCBO) in Oklahoma. Oklahoma native John Munger, a local 28-year banking veteran, will manage the office in Oklahoma City and lead the local Wells Fargo team here to serve the financial needs of middle market companies in Oklahoma and the region. "Wells Fargo is a greatly admired company with respected management, a rich history, and a strategic focus on serving middle market companies," said Munger. "We are committed to deepening our relationships with Oklahoma's business community, offering local decision-making with a sophisticated array of products. We provide credit and other financial services to middle market companies across the country through services like our industry-leading Commercial Electronic Office (CEO) internet portal and the Desktop Deposit service for depositing checks without a trip to the bank." Most recently a senior middle market banker at JPMorgan Chase Bank in Oklahoma City, Munger started his career at First National Bank and Trust Company of Oklahoma City, before serving 14 years at the former First Union. His sales management and strategic initiatives experience give him broad experience in leading sales teams to develop customers of varying size and complexity. A fourth-generation native of Enid, Oklahoma he received his B.B.A. in Finance from the University of Oklahoma in 1979 and attended the Stonier Graduate School of Banking National Commercial Lending School. Long-time Oklahoma City banker Scott Hamilton will be joining Wells Fargo to serve as relationship manager. Most recently a senior vice president at Bank of Oklahoma, Hamilton has met the needs of a broad variety of successful companies in his 26 years in the Oklahoma marketplace. A Ponca City native, Hamilton holds a bachelors degree from the University of Oklahoma and attended graduate business school at the University of Texas in Austin. Munger also recruited Lance Reynolds and Kristi Frier to Oklahoma City from elsewhere within Wells Fargo. Reynolds has joined the team to serve as a loan team manager, responsible for all aspects of credit administration. He joined Wells Fargo in 1999 as an analyst in the Energy Group and most recently served as a senior relationship manager with the Dallas Commercial Banking Group. Wells Fargo team member Kristi Frier will manage the customer service function. The new commercial banking team joins more than 150 Wells Fargo team members throughout Oklahoma today who provide financial services through Wells Fargo Financial and Wells Fargo Home Mortgage. The Oklahoma office also augments Wells Fargo's capabilities serving commercial customers in the energy, agriculture, investment management and real estate sectors. The office will serve clients across the state from its new location at One Leadership Square, at 211 North Robinson Avenue, on the 21st floor in Oklahoma City. The new office builds upon Wells Fargo's existing presence and long history in Oklahoma. In September 1858, two years after the government established the current state boundaries, Wells Fargo was one of three major express companies to bring the Overland Mail Company into the state. The three-week stagecoach service ran 188 miles between Fort Smith, Arkansas, and Dennison, Texas, through Indian Territory. At the time of Statehood in 1907, Wells Fargo had contracts on seven railroads. On July 1, 1918, when Wells Fargo became part of the government consolidation of all domestic express business, Wells Fargo had 314 offices in Oklahoma. Wells Fargo & Company is a diversified financial services company with $482 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."