WELLS FARGO BANK WILL LOWER PRIME RATE TO 4.25 PERCENT
SAN FRANCISCO — November 7, 2002
Wells Fargo Bank, N.A., said today it will lower its prime rate from 4.75 percent to 4.25 percent, effective today, November 7, 2002.
This announcement affects only Wells Fargo Bank, N.A, headquartered in San Francisco, and not other Wells Fargo & Co. subsidiaries, which make interest rate decisions independently.
Wells Fargo Bank is a subsidiary of Wells Fargo & Company (NYSE: WFC), a $334 billion diversified financial services company providing banking, insurance, investments, mortgage and consumer finance through more than 5,600 stores, the Internet (www.wellsfargo.com ) and other distribution channels across North America and elsewhere internationally.