Wells Fargo Buys Texas Bank

Wells Fargo(WFC Quote) on Wednesday showed its strength amid the economic uncertainties and continued housing and credit crunch by making a bank acquisition.

The San Francisco-based bank said after the markets closed it has agreed to acquire Century Bancshares of Dallas and Texarkana, Texas. Terms of the deal were not disclosed other than it was a stock-for-stock merger. The deal is expected to be completed by the end of the year, Wells Fargo says.

A spokeswoman for Wells Fargo could not immediately provide the purchase price. ...