Wells Fargo (WFC), despite its earlier pronouncements that it would be shareholder-friendly when it paid back its TARP funds, is not about to be left on the hind one. No way. When Bank of America (BAC) and then even Citigroup (C) announced they would pay back their TARP funds, it was only a matter of time before Wells Fargo followed suit. And it has come to pass.

The bank will sell $10.4 billion in new stock to help repay all $25 billion. The company will also raise $1.35 billion by issuing stock to company benefit plans and sell $1.5 billion in assets. The stakes were much less high for Wells Fargo. It wasn't an investment bank and it didn't face the compelling hiring consequences that Bank of America and Citigroup did. Still, the markets are hot, investors are not upset with the dilutive consequences, and the time is thus ripe. The costs would be higher if it remained the only major bank left on the public dole. The move will add to earnings next year, the bank maintains. 

For more:
- here's an article from TheStreet.com

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