Reinforcing its long-term commitment to its home state of California, Wells Fargo (NYSE: WFC) today announced that it won $557,215,000 out of $1.6 billion (approximately 35 percent) in State of California tax-exempt, various-purpose general obligation bonds. It marks the bank’s third purchase of the state’s competitive bond sales this year.

“Today’s purchase clearly shows that we will continue Wells Fargo’s strong, decades-long commitment to the State of California in order to support its issuers and state residents,” said Phillip Smith, head of Government and Institutional Banking.

This year alone, Wells Fargo has purchased $1.3 billion in competitive bond sales from the State of California. The bank currently holds approximately a 56-percent market share of the state’s debt sold competitively in 2017, helping California taxpayers’ save millions of dollars, including more than $1.4 million from bond sales earlier in the year.

Including the cities of Los Angeles, San Francisco, and Santa Clara, Wells Fargo has purchased $2.6 billion year-to-date of California state and local debt, including more than $1.2 billion of debt offerings just since September 2017. That equals about 31 percent of total state and local debt sold competitively in 2017.

“California is our headquarters state,” Smith added. “It’s where more than 43,000 of our team members work and call home. And it’s where since 1852 we have invested billions of dollars to help millions of homeowners, automobile owners, and small, midsize and large businesses. Wells Fargo is proud to continue our legacy of providing help to California and its residents.”

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,400 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 268,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories. Wells Fargo Securities is the trade name for certain securities-related capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Bank, N.A., acting through its Municipal Products Group.