Wells Fargo : Continues Middle Market Banking Expansion in New England

Worcester, Massachusetts - Wells Fargo's (NYSE: WFC) Middle Market Banking group announced today that it has opened a regional office here, rounding out the bank's New England expansion. The bank has tapped 28-year banking veteran Deborah (Deb) Larsen to lead commercial lending operations in Central and Western Massachusetts.

The new commercial office marks Wells Fargo's fifth in New England. The bank first launched the New England division in 2015 under the leadership of Boston-based Gregory O'Brien. Since then, the company has opened offices in Providence, Rhode Island; Portland, Maine; Manchester, New Hampshire; and now, Worcester.

Middle-market companies drive the U.S. economy as an important engine of job creation. More than 200,000 companies - mostly privately held - generate more than $10 trillion in annual revenues.

'Our mid-market commercial operations model is to have local representation backed by specialized resources, whether that's industry expertise or specific financial capabilities that our bank can provide,' said O'Brien, New England division manager for Wells Fargo Middle Marking Banking. 'We partner with those resources, wherever they may be located, to deliver comprehensive financial services and solutions to our customers.'

Larsen now leads Wells Fargo's local middle market banking business, which provides credit, treasury management, and deposit products and services to middle-market companies with revenues of $20 million and more, from Worcester and North Worcester County to Springfield, Massachusetts. Reporting to Larsen is Ben Leonard, senior relationship manager, based in Springfield.

'Deb is an experienced commercial banker in this region and brings her passion for serving middle-market companies' financial needs to our expanding Wells Fargo team in New England,' said O'Brien. 'She will lead this growing market with integrity, diligence, and commitment to serving our clients and community.'

Larsen began her banking career in 1990 with First National Bank of Boston (predecessor to Fleet Bank and later Bank of America), managing credit and deposit portfolios for middle-market companies. After nearly 20 years with Bank of America, she joined UniBank for Savings, where she served as a senior lender in commercial and business banking in Worcester.

A graduate of Worcester's Assumption College, Larsen holds a bachelor's degree in business administration and an MBA. An advocate for diversity in the workplace, she has been a guest lecturer in Assumption College's 'Diversity in the Work Force' course. Excerpts from her graduate research project 'Women in Leadership Positions' were published in three editions of 'Understanding and Managing Diversity: Readings, Cases and Exercises' (C.P. Harvey and M.J. Allard, Pearson: Prentice Hall).'

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investments, mortgage, and consumer and commercial finance through 8,200 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2017 rankings of America's largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

About Wells Fargo Middle Market Banking

Wells Fargo is No. 1 in total middle-market banking share in the U.S. and has the most primary banking relationships with middle market companies with $25 million to $500 million in annual sales.* With 140 offices in 38 states and four Canadian provinces, Wells Fargo Middle Market Banking provides local service and decision-making for businesses with $20 million to $500 million-plus in annual sales. Asset-based lending, traditional secured loans, and capital markets provide access to working capital for day-to-day operations and growth. Expertise and services are available to specialty industries, including technology, food and agribusiness, healthcare, government, higher education, clean technology, and environmental services. Watch stories about successful middle-market companies at Wells Fargo Commercial Banking Success Stories.

*Barlow Research Middle Market Rolling 8 Quarter Data 1Q2016-4Q2017 showing Wells Fargo's competitive market performance among companies with $25MM-<$500MM in sales for both primary bank market share and total market share (primary + up to 3 additional banks used). Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

Contact:

Dana C. Obrist, 980-307-9583
dana.c.obrist@wellsfargo.com
@DanaObristWF