Thursday, August 24, 2006

2006 Investor Day To Be Hosted By Washington Mutual

Washington Mutual, through its subsidiaries, is one of the nation's leading consumer and small business banks. At June 30, 2006, Washington Mutual and its subsidiaries had assets of $350.7 billion. The company has a history dating back to 1889 and its subsidiary banks currently operate more than 2,600 consumer and small business banking stores throughout the nation.


Washington Mutual offers fixed-rate , adjustable rate home loans, hybrid home loans, as well as government insured or guaranteed home loans. Washington Mutual Mortgage Banking provides private mortgage insurance, mortgage life insurance, homeowners' insurance, property insurance and more.


SEATTLE, Jul 28, 2006 (BUSINESS WIRE)


Washington Mutual, Inc. will hold its 2006 Investor Day for analysts and institutional investors on Wednesday, September 6, and Thursday, September 7.


The first day of the event is scheduled to begin at 4:00 p.m. PT on September 6 at WaMu Center, WaMu's new corporate headquarters, and will conclude around 6 p.m. PT followed by a reception with management.


The second day will begin at 8:00 a.m. PT at WaMu's Leadership Center at Cedarbrook and will conclude by 1:00 p.m. PT. Seating for this event is limited, so those analysts and institutional investors interested in attending should sign up as soon as possible. Washington Mutual will also provide a live and archived web cast and dial-in number for those unable to attend the event in person.

Friday, August 11, 2006

Bank of America Named Best Consumer Internet Bank by Global Finance Magazine

Bank of America also awarded best investment management services, best bill pay and presentment, best information security initiatives and best integrated consumer site


Bank of America is the number one financial institution based on the number of relationships, investment banking, treasury management, syndications, secured and unsecured credit and leasing, providing comprehensive services to middle market companies throughout the United States. Bank of America Community Development Banking has invested in or developed over 100,000 units of affordable housing.


CHARLOTTE, N.C.
August 8, 2006

Bank of America was named best consumer Internet bank in North America by Global Finance magazine as part of its "World's Best Internet Banks" competition. Global Finance magazine also gave Bank of America awards for the best investment management services, best information security initiatives, best bill pay and presentment, as well as best integrated consumer site in North America. Winners were selected based on strength of strategy for attracting and servicing online customers, breadth of product offerings, evidence of tangible benefits gained from Internet initiatives and Web site design and functionality.


Category winners were selected based on the strength and success of those products and services. Bankofamerica.com is the leading online banking site, with nearly 20 million active online banking customers, more than 10 million bill pay customers, and more than 2 billion visits annually.


Bank of America has more than 34 percent of the online banking market share in the U.S., according to comScore Networks, Inc., and the bankofamerica.com site is the most visited financial services Web site, based on Nielsen/NetRatings. "We're very proud of the work we're doing to make the customers' experiences the best of any financial institution," said Sanjay Gupta, e-Commerce executive.


"We continue to focus on making Bank of America the number one choice by providing consumers with convenient and secure online services that help them better manage their financial lives."



Bank of America led the industry with SiteKey, a two-way authentication system that helps customers confirm they are at the real Bank of America Web site and avoid phishing scams. The bank also rolled out new alerts that help customers monitor accounts and detect potential fraudulent activity and provides.


Brokerage accounts are integrated within Online Banking, providing a single sign on for banking and investment accounts. The My Portfolio feature in Online Banking also lets customers view in one location mileage rewards, credit card and other accounts from outside the bank. Earlier this year, Bank of America also won the Webby Award and the Webby's People's Voice Award in the online banking/bill pay category.


A record 5,500 entries from more than 40 countries entered the Webby Awards in 69 business, consumer and culture categories. The judging was based on content, structure and navigation, visual design, functionality, interactivity and overall experience. For the past two years, Javelin Strategy & Research ranked Bank of America No. 1 in its Online Banking Safety Scorecard.


In 2003, Bank of America financed mortgages for over 625,000 families. Bank of America provides financial services and products to customers and clients in all 50 states through its 175,000 associates.


Bank of America was the first Fortune 500 financial institution to endorse the corporate code of conduct for environmental responsibility known as the CERES Principles. Since 1999, Bank of America has helped put thousands of teachers and administrators into new homes through two mortgage programs: Teacher Flex and Teacher Zero Down.

Friday, August 04, 2006

S&P Upgrades Wells Fargo Bank to “AA+”

S&P Upgrades Wells Fargo Bank to “AA+,” Making It Highest Credit-Rated Bank in U.S.



Wells Fargo is a diversified financial services company that provides banking, insurance, investments, mortgage and consumer finance. Wells Fargo currently serves over twenty-three million customers. Wells Fargo is headquartered in San Francisco with more than six thousand stores across the United States to meet its customers’ financial needs. Wells Fargo serves additional customers throughout the country and internationally through its internet presence.



The Wells Fargo vision is to satisfy all of its customers’ financial needs, help them achieve financial success, and to be known as one of the nation’s great companies and the leading financial services provider in each of their markets.



Standard & Poor’s Ratings Services yesterday upgraded Wells Fargo Bank, N.A. to AA+, making Wells Fargo S&P’s highest credit-rated bank in the U.S. In 2003, Moody’s Investors Service rated Wells Fargo Bank, N.A. the United States’ only “Aaa” bank, its highest credit-rating.



S&P also raised the long-term credit ratings of Wells Fargo & Company’s (NYSE: WFC) senior debt to AA, making it the highest S&P credit-rated bank holding company in the U.S. S&P cited Wells Fargo for the consistency of its core profitability, leading market positions in several businesses, strong capital measures, conservative risk management, its stable net interest margin, and a balanced business model that has generated consistently strong operating results.



“The announcement by Standard & Poor’s – in addition to being the only U.S. bank with a “Aaa” credit-rating from Moody’s Investors Service – is further proof of the long-term value of our time-tested vision, business model, conservative risk management and the ability of our talented team to satisfy all of our customers’ financial needs and help them succeed financially,” said Chairman and CEO Dick Kovacevich. S&P cited Wells Fargo’s strong retail banking franchise as well-positioned and well-managed to face the competitive marketplace without sacrificing price or credit standards.



“Our first financial objective is to maintain a conservative financial position measured by asset quality, accounting policies, capital levels, diversity of revenue sources and dispersing risk by geography, loan size and industry,” said Howard Atkins, Wells Fargo & Company’s Chief Financial Officer.


“We want our banks to have such strong balance sheets that our customers would put their money in them even if there was no FDIC insurance.”



Wells Fargo & Company is a diversified financial services company with $500 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,200 stores and the internet (wellsfargo.com) across North America and elsewhere internationally.


Wells Fargo Bank, N.A. is the only bank in the U.S. to be rated “Aaa” by Moody’s Investors Service, its highest possible credit rating, and “AA+” by Standard & Poor’s Ratings Services.