BOSTON – Wells Fargo & Co. are looking to expand operations in New England, which could include adding offices in Rhode Island, according to a Boston Business Journal report.
Wells Fargo, with $1.7 trillion in assets reported in the first quarter of this year, is the fourth largest bank in the U.S., according to its website. The bank has indicated a desire to expand its commercial banking operations in New England in the next six to 12 months.
The bank currently has an office in Boston, but BBJ reports the bank has about $2.5 billion in total New England loan commitments and is looking to add offices in central and western Massachusetts, Rhode Island, New Hampshire and Maine.
Wells Fargo, based in San Francisco, has offices in 36 countries and more than 8,700 locations. Fortune’s ranked it the 29 largest American corporation in 2014.
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