11 Facts About Norwest Corporation

Norwest Corporation was a banking and financial services company based in Minneapolis, Minnesota, United States.

Norwest Corporation immediately announced plans to build a modern 774-foot tower, the Norwest Corporation Center, as its replacement.

However, until the Norwest Corporation Center opened in 1988, corporate staff was scattered around 26 different sites in the city, leading to numerous logistical difficulties.

In 1988 Norwest Corporation entered rapidly growing Arizona for the first time through the purchase of a small bank near Phoenix.

Norwest Corporation Financial grew through acquisition as well, with the 1992 purchase of Trans Canada Credit, the second largest consumer finance firm in Canada.

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Also in 1993, Norwest Corporation became the 4th-largest bank in Arizona by acquiring the Arizona operations of Citicorp .

Between January 1994 and June 1995, Norwest Corporation made an additional 25 acquisitions, including several in Texas, making it the most active acquirer among bank holding companies.

In 1995 Norwest Corporation Mortgage became the nation's leading originator of home mortgages following the acquisition of Directors Mortgage Loan Corp.

Norwest Corporation's focus was on smaller customers, checking account depositors and small businesses, and he aimed to build relationships with them that would lead to cross-selling of other financial services – an auto loan, a mortgage, insurance, a mutual fund, and so on.

Norwest Corporation Mortgage was national in scope, while Norwest Corporation Financial covered 49 states, along with additional operations in Guam, Saipan, Canada, the Caribbean, and Central America.

Norwest Corporation retains Norwest's pre-1998 stock price history, and all pre-1998 SEC filings are under Norwest, not Wells Fargo.