Regional Banks

Norwest Corporation

The Company

NORWEST CORP. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: NOB)") else Response.Write("(NYSE: NOB)") end if %> is a great example of banking company that is rendering obsolete the traditional description of such a company as a "regional bank." The company does have a substantial number of branch offices throughout Illinois, the Midwest, and the Mountain States. It mortgage banking subsiary Norwest Mortgage funded $52 billion in mortages last year, with $9.7 billion in funding in California alone. In addition to selling insurance and and operating over 1,000 consumer lending offices in 48 states, the bank has a rather large venture capital operation, which made new investments of $150 million last year.

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