Wells Fargo Celebrates Grand Opening With Ribbon Cutting

Out of 12 area branches that from Wachovia to Wells Fargo, Perry Hall was selected to host a special ribbon cutting and grand opening celebration Thursday morning.

"It's the and our own involvement in the community," said Wells Fargo president of the Maryland region Andrew M. Bertamini. "This is an important location for us."

Bertamini emphasized several of the company's community service activities, including a reading and book donation program and seminar teaching students about financial planning.

"We took that into ," he added. 

The ceremony included a $250 donation to the , as well as speeches and citations from local politicians.

State and spoke about encouraging small business growth and presented a Maryland General Assembly citation. Renee Smith, on behalf of state ,presented another citation from the Maryland Senate. also spoke about the bank's impact on the local business climate.

General manager said her interest in Perry Hall's growth and development is personal. "I live here, I shop here, I go to church here, I run into customers at the grocery store," Kemp said.

The ribbon cutting occurred just one day after Wells Fargo & Company's credit rating was downgraded by Moody’s Investors Service, leading to an immediate drop in stocks, of talk of possible failure and government bailout eligibility.

Bertamini, however, said the downgrade should not be a concern to the average banking customer.

"I think it's just a sign of the environment; we're still a solid institution," he said.