Wells Fargo & Company is one of the largest financial services firms in the United States. It boasts a rich history that dates back to the mid-19th century. Founded during the California Gold Rush, the company has evolved significantly over the years. The Wells Fargo logo is a known emblem in American financial history, which is deeply rooted in the company’s origins and its evolution over time. This article explores the various iterations of the logo over the years.
The Genesis of the Wells Fargo Logo (1852 – 1960) (Unavailable)
The original logo featured a monochrome image of a six-horse stagecoach to symbolise reliability and speed in delivering goods and services. However, the same is not available to date.
(1960 – 1962)
The logo redesign of 1960 featured a white oval with a double black framing. At the centre of the oval was the monochrome image of a stagecoach in black-and-white with 18 and 52 (the founding year) marked on either side. On the periphery of the oval appeared the wordmarks “WELLS FARGO BANK” at the top and “AMERICAN TRUST COMPANY” at the bottom in long serifs.
(1962)
In 1962, the stagecoach symbol was enclosed within a rhombus consisting of a frame made of two solid black stripes and two pieces of thin parallel stripes. Below the symbol appeared the name of the company, “WELLS FARGO BANK,” in large capital letters with serifs.
(Before 1996)
The logo design of this period featured the monochrome image of a six-horse-drawn wagon or a Concord stagecoach, which was quite common in the American Wild West. The stagecoach emblem was professionally executed with every detail marked, such as the silhouettes of people. Beneath the emblem appeared the Wells Fargo name in all capitals and executed in a bold serif typeface, which was separated from the emblem by a thin black line.
(1996 – 2019)
In 1996, the redesigned logo featured the brand name in yellow capitals and enclosed within a red square. The letters of the brand name were written using a traditional serif typeface where the serifs were enlarged. The second part of the logo comprised the colourful image of an iconic stagecoach and horses. It was complemented by the slogan in red, “Together we’ll go far,” placed above the horses.
(2019 – Present)
The logo redesign of 2019 was a rehash of the earlier logo but with slight modifications to the typeface and removal of some colour elements from the wordmark. For instance, the wordmark inside the red square was written in white with thick letters. Designed by Siegel and Gale, the design had the wordmark written in a Wells Fargo sans-serif typeface. The stagecoach symbol was now made in yellow with white accents without the slogan to make the logo more stylish and concise.
The Elements of the Wells Fargo Logo
Font
The logo of Wells Fargo uses a clear sans-serif typeface, which belongs to the family of fonts called Arsher. Here, Arsher combines two font styles—Antiques and Geometrics.
Colour
The Wells Fargo logo features two colours: deep red and golden yellow. The deep red conveys passion and energy, while golden yellow symbolises wealth and optimism. The two colours echo its roots during the Gold Rush.
The History of Wells Fargo
Wells Fargo was established on March 18, 1852, by Henry Wells and William G. Fargo in response to the growing demand for reliable banking and express services during the Gold Rush. The founders aimed to provide secure transport for gold and other valuables between the East and West coasts of the United States. This era saw the company quickly expand its operations by establishing a network of offices across California and beyond, which facilitated communication and financial transactions in a rapidly growing economy.
In its early years, Wells Fargo diversified into various services, particularly stagecoach transportation. By 1866, it had gained control of nearly all stagecoach operations in the West. However, the company faced significant challenges, including a banking crisis in California in 1855 and operational hurdles during the Civil War. Despite these setbacks, Wells Fargo continued to grow, with its number of banking and express offices increasing from 436 in 1871 to around 3,500 by the turn of the century.
In 1905, Wells Fargo separated its banking operations from its express business. This marked a shift towards becoming a full-fledged banking institution. The company merged with Nevada National Bank to form Wells Fargo Nevada National Bank. Throughout this period, Wells Fargo adapted to economic changes, which included surviving the Great Depression by gaining deposits when many banks failed.
In 1954, Wells Fargo further strengthened its identity by shortening its name to Wells Fargo Bank, which reflected its focus on retail banking services. This was followed by several mergers with other banks throughout the late 1950s and early 1960s, which expanded its reach and capabilities.
The establishment of Wells Fargo & Company as a holding company in 1969 marked another significant evolution. This structure allowed for greater flexibility and growth opportunities as it acquired various banks across the United States. The merger with Norwest Corporation in 1998 was particularly noteworthy; it combined two major players in the banking sector under the Wells Fargo name.
In recent years, Wells Fargo has faced challenges related to regulatory scrutiny and public trust due to various scandals involving customer accounts. However, the company has made concerted efforts to rebuild its reputation through transparency initiatives and improved customer service practices.
Interesting Facts About Wells Fargo
- Wells Fargo was established on March 18, 1852, by Henry Wells and William G. Fargo. The company was created to meet the needs of customers during the California Gold Rush. The services include providing banking and express services for transporting gold and other valuables across the country.
- The iconic Wells Fargo stagecoach became a symbol of the company’s commitment to reliable service. By 1866, Wells Fargo controlled nearly all stagecoach operations in the West, which highlighted its dominance in transportation during that era.
- The high profits earned by the express operations of Wells Fargo got its nickname “The fat cat of Montgomery Street.” Here, Montgomery Street was San Francisco’s equivalent of Wall Street.
- The first major financial crisis faced by Wells Fargo was in 1855 when it became impossible to mine gold along stream beds due to a drought. Although it caused the ouster of several businesses in San Francisco, including its biggest competitor, Adams Express Company, Wells Fargo stood strong.
- In 1869, a California-based group of investors took over the company after the stocks of Wells Fargo plummeted due to the looming threat from the transcontinental railroad. However, Wells Fargo benefitted from the exclusive privileges it received from the Central Pacific Railroad, which was controlled by the same group of investors.
- In the early years, Wells Fargo faced hold-ups and robberies. In fact, by 1884, the stagecoaches and trains of Wells Fargo were robbed 340 times. This forced Wells Fargo to hire its own security force.
- In 1905, Wells Fargo separated its banking operations from its express business, marking a significant shift towards becoming a full-fledged banking institution. This transition laid the groundwork for the modern banking services that Wells Fargo offers today.
- In 1905, The Wells Fargo Bank of New York was sold to the National Park Bank, which later merged into Chase National Bank, the forerunner of JPMorgan Chase.
- In 1906, Wells Fargo paid hundreds of thousands of dollars to depositors without any record of customer accounts as its fireproof vault was trapped in the building destroyed by an earthquake. Interestingly, the total loss due to overpayments to depositors did not exceed $200.
- In 1918, Wells Fargo Express Service was discontinued after it was merged into the American Railway Express, along with three other express companies, to win World War I.
- In 1998, Wells Fargo merged with Norwest Corporation, which significantly expanded its footprint across the United States. This merger allowed Wells Fargo to become one of the largest banks in the country, with a diverse range of financial services.
- In 2008, during the financial crisis, Wells Fargo acquired Wachovia Bank in a deal valued at approximately $15 billion. This acquisition further strengthened the bank’s position as a major player in the banking industry. This also enabled it to expand its operations into new markets on the East Coast.
- Today, Wells Fargo operates over 4,286 branches and serves approximately 64 million customers worldwide. It offers a wide range of services, including banking, mortgages, insurance, and investment management.
- Wells Fargo is said to have an ATM or a retail store within two miles of almost half of the population of the USA.
- One in 10 small businesses in the USA does business with Wells Fargo.
- The company has faced several challenges over its long history. These include many scandals from 2013 to 2022 involving unethical practices related to customer accounts. These issues have led to regulatory scrutiny and efforts to rebuild trust with customers.
- The Wells Fargo Museum in San Francisco showcases artefacts from the rich history of the company. These include stagecoaches and memorabilia that reflect its evolution over time. This museum serves as a reminder of how far the company has come since its founding.
- Throughout its history, Wells Fargo has been known for innovation in financial services. It was one of the first banks to offer coast-to-coast communication and payment services in the mid-19th century.
- Wells Fargo has a long-standing commitment to community involvement and financial education. The company actively engages in philanthropic efforts and initiatives that are aimed at promoting economic empowerment and sustainability within communities it serves.
Finally
The evolution of the Wells Fargo logo reflects changes in design preferences and illustrates how companies adapt their branding strategies over time to maintain relevance in an ever-changing marketplace.