Who bought out Wachovia Bank?
Wells Fargo Application On October 12, the Board announced its approval of the application and notice under sections 3 and 4 of the BHC Act by Wells Fargo to acquire Wachovia and its banking and nonbanking subsidiaries.
What bank did Wells Fargo buyout?
The acquisition of Wachovia by Wells Fargo was completed on December 31, 2008, after a government-forced sale to avoid Wachovia’s failure. The Wachovia brand was absorbed into the Wells Fargo brand in a process that lasted three years.
When did Wells Fargo purchase Wachovia?
Oct. 3, 2008— — NEW YORK (AP) — In an abrupt change of course, Wachovia Corp. said Friday it agreed to be acquired by Wells Fargo & Co. in a $15.1 billion all-stock deal, wiping out Wachovia’s previous plan to sell its banking operations to rival suitor Citigroup Inc.
Can you still use Wachovia checks?
You can also use your old Wachovia checks and deposit slips. Many customers say they’ll just have to wait and see what it’s like when the merger is done August 8th.
Does Wells Fargo own Wachovia?
In 2008, Wells Fargo & Company acquired Wachovia Corporation to create North America’s most extensive distribution system for financial services, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through approximately 4,800 retail banking branches, more than 12,000 ATMs …
What happened to Wachovia bank?
Wachovia Is Now Wells Fargo – Wells Fargo.
What did Wachovia mean?
Wachovia was the name used to designate a large tract of land in the northern Piedmont of North Carolina purchased by the Moravians, or the Unity of Brethren, from John Lord Carteret, Earl Granville, in 1752.
When did unions become Wachovia?
First Union merges In 2008, Wells Fargo & Company acquired Wachovia Corporation, including First Union.
Is the Wachovia bank still in business?
Wachovia is acquired The integration of Wachovia and Wells Fargo is complete, and all Wachovia accounts have been moved to Wells Fargo.
What is a Wachovia account?
Wachovia is a bank that is now a part of Wells Fargo. If you already have a Wachovia personal or business checking account, you can access that account online. Accessing your account online is free, but there is a monthly fee for using QuickBooks or Microsoft Money to manage your account.
How big was Wachovia?
By 2006, after a merger with Southtrust Corporation, Wachovia was the fourth-largest bank holding company in the nation, with $542 billion in assets, 3,200 financial centers, and 97,000 employees.