Share No2 - Wells Fargo

The  second share which goes into fund is Wells Fargo (WFC).

I was looking at this company for a while and decided to go ahead with purchase. Its quite conservative bank mainly focusing on traditional banking like: loans,mortgages, day to day banking. Exactly what I was looking for ...the bank which is not much involved into trading

Here is company description from finance page:

Wells Fargo & Company is an American multinational banking and financial services holding company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit cards. In 2011, Wells Fargo was the 23rd largest company in the United States. In 2012, Wells Fargo had more than 9,000 retail branches and over 12,000 automated teller machines in 39 states and the District of Columbia. A "Big Four bank", it has over 270,000 employees and over 70 million customers.As of July 12, 2013, Wells Fargo became the world's biggest bank by market capitalization, worth $236 billion, ousting ICBC as World's Biggest Bank.

I just want to add that they made great expansion during recent time. Wells Fargo bought Wachovia during the hard times recently so they expanded their operating area from west side to east side where Wachovia had retail banking network.

Interesting fact: In 2007 it was the only bank in the United States to be rated AAA by S&P !

Bought 50 shares, dividends yield 2.9%