Wells Fargo Expands Commercial Banking Team in Central Virginia

Wells Fargo Expands Commercial Banking Team in Central Virginia

New office open in Fredericksburg; New leadership in Richmond

RICHMOND, Va.--(BUSINESS WIRE)-- Continuing its steady growth in the Richmond area, Wells Fargo Commercial Banking, a part of Wells Fargo & Company (NYS: WFC) , has hired Thomas Palmer as senior vice president and regional manager. Also joining Wells Fargo's Richmond office, Brian Combs will serve as senior vice president and senior relationship manager. In addition, the company has established a Commercial Banking office in Fredericksburg, Va.

Palmer brings more than 27 years of financial experience to Wells Fargo and focuses on building relationships and serving middle market customers with annual revenues of at least $20 million. Previously, he worked at SunTrust Bank and predecessor companies for 20 years, most recently serving as executive vice president and group head for middle market banking. He began his financial career with KPMG Peat Marwick in Boston.

Palmer earned his bachelor's degree in business administration (commerce) from the McIntire School of Commerce at the University of Virginia and his M.B.A. from J.L. Kellogg School of Business at Northwestern University in Evanston, Ill. He is a board member of the Virginia Chamber of Commerce, where he serves as vice chairman of finance.

"Tom's disciplined approach to credit and relationship building, combined with his 20-plus years of working with customers in Richmond, is a valuable combination for Wells Fargo's customers and our franchise," said Edmond Lelo, division manager for Wells Fargo's Mid-Atlantic Commercial Banking Group. Lelo, who took the reins of the Mid-Atlantic Commercial Banking Division in 2012, focuses on putting teams on the ground in the communities where their customers live and work. He has nearly doubled his team of relationship managers since June 2012.

Brian Combs, also formerly of SunTrust Bank, has been tapped as senior relationship manager for the Richmond office. Combs, a 14-year banking veteran in the region, most recently served as senior vice president of the Corporate Banking Group at SunTrust Bank. He holds a bachelor's degree from University of Virginia and his M.B.A. from Wake Forest University.

"Brian's career has been distinguished by the long-term, trusted relationships he builds with clients, and consequently he's a great fit with how we do business with our clients at Wells Fargo," said Palmer.

Wells Fargo has established a Commercial Banking office in Fredericksburg to serve middle market customers there. Dermaine Lewis, a native of Fredericksburg and an 11-year Wells Fargo team member, has been tapped to lead that office. Opened last month, the new office is located in Suite 202 of the Wells Fargo office at 1671 Jefferson Davis Highway.

Lewis is a graduate of the Chamber of Commerce Leadership Program and sits on the boards of REDCO, and Rappahannock Goodwill and is a member of the Rappahannock Rotary Club, the Spotsylvania Vocational Committee and Chamber of Commerce Next Generation of Leaders. He holds a bachelor's degree in Business from The University of Mary Washington.

In related news, the company announced last week that it has established an Eastern Region hub for its National Food & Agribusiness Division that will serve the U.S. east of the Mississippi River, including the Central Virginia market.

About Wells Fargo Commercial Banking

Wells Fargo Commercial Banking serves middle market businesses with annual sales above $20 million. Nationwide, Wells Fargo is the No. 1 commercial bank in the markets it serves. In addition to providing a world-class customer experience for our clients, Wells Fargo Commercial Bankers are also committed to being good citizens, from charitable giving to volunteering to public service.

About Wells Fargo

Wells Fargo & Company (NYS: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35 countries to support the bank's customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune's 2012 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.

Wells Fargo
Dana Obrist, 704-715-6138 (Media)

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