FOR IMMEDIATE RELEASE
 
DATE:  May 6, 2004
CONTACT: Kathryn Funk-Baxter, Interim Vice President for Finance (361) 825-2495; Jorge A. Ramirez, Assistant Vice President for Communications (361) 825-2427

Wells Fargo Awarded Five-Year Contract to Provide Banking Services at Texas A&M University-Corpus Christi

Wells Fargo Bank, N.A. will assume operations of the bank branch and ATM located at the University Center of Texas A&M University-Corpus Christi in late July, pending regulatory approval. The firm was recently awarded a five-year contract based on the recommendation of a 10-person Request for Proposals (RFP) evaluation team from the University.

“Wells Fargo is excited about this opportunity to partner with the University in offering the campus community new and expanded financial services,” said Ralph Gomez, district manager for Wells Fargo Bank.

The evaluation team, consisting of representatives from across the University community, reviewed proposals from several financial institutions that responded to a Request for Proposals posted by the University in December.
 
“The Evaluation Committee had several good proposals for review during this evaluation process,” said A&M-Corpus Christi Interim Vice President for Finance, Kathy Funk-Baxter. “While only one institution could be awarded the contract, we feel that Wells Fargo provided an excellent package for our students, faculty and staff to provide banking services here on campus. They also provide a large network of institutions and ATM's across the nation to serve their customers’ needs.” 

American Bank, which had provided services at the University since 1995 and participated in the new Request for Proposals, will close its University Center location at noon on July 16. Accounts of current American Bank customers at the campus branch will not change. They will remain with American Bank with no changes to the account requirements or fees. 

“Our campus community has benefited from having American Bank on our campus for the past nine years and we were happy with the services they provided the University,” said Funk-Baxter. “It was an excellent relationship, but it was time for proposals to be accepted from interested partners for banking services as our contract with American Bank was to expire in summer 2004.”

Trey McCampbell, chief administrative officer for American Bank, said “We've been pleased to be a part of the phenomenal growth of Texas A&M University over the past nine years. Obviously we are disappointed that American Bank was not chosen as the on- campus bank. However, we appreciate all the great customers we have had and hope to continue to serve them from our other Corpus Christi area branches."