How many states did Wachovia have a presence in?
20598893#0
Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo and Company in 2008, Wachovia was the fourth-largest bank holding company in the United States, based on total assets. Wachovia provided a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. At its height, it was one of the largest providers of financial services in the United States, operating financial centers in 21 states and Washington, D.C., with locations from Connecticut to Florida and west to California. Wachovia provided global services through more than 40 offices around the world.
Wachovia
20598893#27
Westcorp, Western Financial Bank's parent company, WFS Financial Inc. and Wachovia announced a proposed acquisition by Wachovia in September 2005. Westcorp and WFS Financial Inc. shareholders approved the acquisition on Jan. 6, 2006 and on March 1, 2006, the merger was complete. This acquisition made Wachovia the ninth largest auto finance lender in the competitive U.S. auto finance market and provided Wachovia with a small retail and commercial banking presence in Southern California. On February 12, 2007, the former 19 Western Financial Bank branches opened under the Wachovia name. These branches became the launching point for a much larger Wachovia presence in California with the acquisition and integration of World Savings Bank in 2007.
Wachovia
27136936#10
In 2006, they agreed to acquisition of Golden West Financial and its thrift, World Savings, by Wachovia Bank, The acquisition gave Wachovia an additional 285-branch network spanning 10 states. Wachovia greatly raised its profile in California, where Golden West held $32 billion in deposits and operated 123 branches. Wachovia also picked up about $122 billion in option adjustable rate mortgages.
Golden West Financial
20598893#28
Wachovia agreed to purchase Golden West Financial for a little under $25.5 billion on May 7, 2006. This acquisition gave Wachovia an additional 285-branch network spanning 10 states. Wachovia greatly raised its profile in California, where Golden West held $32 billion in deposits and operated 123 branches.
Wachovia
3751269#21
On July 17, 2008, a national task force, said to be composed of officials from several states including Missouri, began investigating at the St. Louis, Missouri headquarters of Wachovia Securities, a division of Charlotte, North Carolina-based Wachovia Corporation. Some in the media were calling it a raid; officials called it a "special investigation" at the St. Louis offices. Media reports also said that the "special investigation" was prompted by the failure of Wachovia Securities to comply with requests by officials. In addition, it was reported that other securities firms were also a part of the investigation. The Missouri state action came after complaints to the state about a total of more than $40 million of investments that were frozen.
Auction rate security
24729489#8
By October 2008, National City was in serious sale discussions following the failure of Washington Mutual and the forced sale of Wachovia to Wells Fargo. Among the publicly known front-runners were Minneapolis-based U.S. Bancorp, Toronto-based Scotiabank, and eventual buyer PNC. Scotiabank, which has long stayed out of the U.S. market unlike its Canadian rivals, was considered the best option for the local government since Scotiabank didn't have a pre-existing presence in the United States, allowing most of the National City operations to stay in Cleveland. Although National City and PNC had minimal overlap, the close proximity of Cleveland to Pittsburgh meant massive layoffs in both cities.
National City acquisition by PNC
179553#58
Many major banking corporations have headquarters in the region. Bank of America is in Charlotte, North Carolina. Wachovia was headquartered there before its purchase by Wells Fargo. Regions Financial Corporation is in Birmingham, as is AmSouth Bancorporation, and BBVA Compass. SunTrust Banks is located in Atlanta as is the district headquarters of the Federal Reserve Bank of Atlanta. BB&T is headquartered in Winston-Salem.
Southern United States
1249100#0
Wachovia was the area settled by Moravians in what is now Forsyth County, North Carolina, US. Of the six eighteenth-century Moravian "villages of the Lord" established in Wachovia, today, the town of Bethania, North Carolina and city of Winston-Salem exist within the historic Wachovia tract. The Moravian Archives in Winston-Salem has a "map" of the original Wachovia tract, showing the approximate locations of the first six Moravian congregations and the approximate current boundaries of Winston-Salem and Forsyth County.
Wachovia Tract
1249100#6
The first planned Moravian settlement, and oldest incorporated municipality in Wachovia is Bethania, North Carolina formed June 12, (1759), also known historically as Bethany, meaning in the Hebrew language, "house/place of dates and figs." "Bethania" is the German form of "Bethany". The Town of Bethania, North Carolina was incorporated 1995, following the reactivation of Bethania's 1838/1839 town charter, and was spared from being annexed into the city of Winston-Salem. Today, Bethania remains the only independent, continuously active Moravian town in the southern United States. In 2007, Historic Bethania, a visitor center and museum, opened in Bethania, providing information and historical interpretation in yet another Wachovia Moravian community.
Wachovia Tract
7153290#8
During the early 2000s, the building became known as the Wachovia Building. Wachovia became the building's largest tenant after merging with First Union Corporation early in the decade. In 2006, Wachovia re-negotiated its lease, which was set to expire in 2010. After exploring other potential new office space in Center City, Wachovia made a deal to stay in the Wachovia Building along with the neighboring Witherspoon Building, the nearby One South Broad, and the Widener Building until the 2020s. The building became known as the Wells Fargo Building after Wells Fargo, which bought Wachovia in 2008, re-branded Wachovia area banks in April 2011. Wells Fargo marketed the change by having a stagecoach carrying Philadelphia mayor Michael Nutter and others ride from Philadelphia City Hall to the Wells Fargo Building.
Wells Fargo Building (Philadelphia)