12 Wells, Norwest branches purchased

Cal Fed, which acquired an estimated $637 million in assets from the 12 branches, leaped from sixth to third in deposit market share in the state with about $1.2 billion total.

Norwest and Wells Fargo had to divest the branches as a result of their $32 billion merger, which was completed in November. The U.S. Justice Department determined the companies had too great a market share in Nevada and Arizona.

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