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Wachovia greatly raised its profile in California, where Golden West held $32 billion in deposits and operated 123 branches. [10] Wachovia also picked up about $122 billion in option adjustable rate mortgages. [11] The acquisition was announced on May 7, 2006, with a price of a little under $25.5 billion.
First Nationwide Bank California Federal Bank: California Federal Bank: $1.2 billion, 1st Nationwide rebranded as "Cal Fed." Citibank: 1998 NationsBank Corp. Barnett Banks, Inc. NationsBank Corp. Bank of America: 1998 First Union Corporation: CoreStates Financial Corp. Including predecessor Bank of North America, the first bank in the United States
Work began right away on what would become the 34/story SouthTrust Tower. SouthTrust had $5.3 billion in assets by the end of 1986 and had expanded as much as it could in its home state of Alabama. After a change in an Alabama law allowed banks to buy other banks in the 12 southeastern states, SouthTrust made its first purchase outside of Alabama.
Wachovia Corp. $15.1 billion. Aug. 28, 1995. Chase Manhattan Corp. Chemical Banking Corp. $10 billion. Dec. 31, 2008. PNC. ... Silicon Valley Bank depositors are now with First Citizens, while ...
Wachovia Corporation began on June 16, 1879, in Winston-Salem, North Carolina, as the Wachovia National Bank. The bank was co-founded by James Alexander Gray and William Lemly. [10] In 1911, the bank merged with Wachovia Loan and Trust Company, "the largest trust company between Baltimore and New Orleans", [11] which had been founded on June 15 ...
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First Union later bought Wachovia National Bank in 2001 and the combined company took the Wachovia brand name. Wachovia Bank, suffering losses during the financial crisis of 2007–2008, was acquired by Wells Fargo, headquartered in San Francisco, California.
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