Wells' hand shines as banks play high-stakes Texas poker - Denver Business Journal:

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In addition to the San Francisco bank's crowjn jewel -- it's status as California's second-largest bank -- Wells Fargo's strength in states such as Texads bodes well forthe company's long-term prospects. Texas is hot righ now, in more ways than one. Prospects for surging populatiohgrowth -- and the deposits that accompany such growtuh -- has bankers eager to expand in that state. struc k a deal last month to finallgy enter Texas retail banking with the purchasre ofin Bryan, Texas. No, that'w not a typo. The nation's largest bank with $1.1 9 trillion in assets made its Texas debut with the purchased of a bankwith $3.5 billion in asseta and 102 branches.
The deal gives Citigroul a deposit market share ofjust 0.8 percent in By comparison, Wells Fargo holds 7.7 percengt of Texas deposits, makintg it that state's third-largest bank. The combinec J.P. Morgan Chase- holds a 23.7 percent share of and comes in secondfwith 12.3 percent, according to SNL , eager to take its huge East Coast franchise into the said in February that it planneed to build a Texas brancbh network from the ground up, starting with 150 branchesz by 2008. That sounds more like a move a bank makezs when its merger overtures havebeen Wachovia, based in Charlotte, N.C., has sinces announced plans to acquire Alabama'sw SouthTrust for $13.
7 which includes 60 Texas branches, giving Wachovia a 0.7 percentf share. It's no wondee that Wachovia's fledgling effortsz to go West fuel speculation ona Wachovia-Wellzs Fargo combination occurring some day. Wells Fargo CEO Dick Kovacevich has consistentlgy denied any ambitions for seeingthe bank'ss ubiquitous stage coach traveling up the Atlanti c Coast. But recent Texas deals that generated as much enthusiasmmas warmed-up leftovers show just how valuable Wellzs Fargo's western franchise is becoming. Bank of Marih added another woman toits board, bringing female representatio in the boardroom to 20 percent.
The bank elected Jan an entrepreneur andformer journalist, to its board of Her entrepreneurial pursuits included Media and Marketing Strategic Planninfg as well as being a founding partner of Fair Advantage, which providese college and career guidance for young women, and Thriving a business that seeks to inspirs women in the areas of family and finance. "She is highl recognizable in the community and will provide a unique perspectivse toour board," said Judy a longtime board member who was elected chairmann last year.
It also doesn't hurt for competitive reasons to have more women in the boarc room as the bank goes up againsft rapidly expanding andEpic Bancorp, parenft of Tamalpais Bank. Both banks are run by women. Circle is run by Kimberlyh Petrini, and Epic is led by her mother, Kit But Bank of Marin, with about half its executive suitesw filledwith women, downplayed the idea that it searche for a woman to fill the boarde seat. "It's a matter of gettint the best people onthe board," a spokeswomanb said.
Investors will do well to remember that actions speak louder than words in assessint the outlook for thestock market, advisesa James Paulsen, chief investment strategistg for , a unit of Wells