Though its purchase of the ailing Wachovia Corp. led to its first quarterly loss in eight years, Wells Fargo & Co. on Wednesday continued to sell the benefits of the acquisition while refusing to predict how much more pain it might produce.

Howard Atkins, Wells Fargo's chief financial officer, said the company has no plans to seek more money from the Treasury Department's Troubled Asset Relief Program, in stark contrast to Bank of America Corp., which this month returned to the government for more funds to help it complete its deal for Merrill Lynch & Co. Inc.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.