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Wachovia was a diversified financial ... was based in Charlotte and adopted First Union's corporate structure and retained First Union's pre-2001 stock price history ...
Wachovia (/ w ɑː ˈ k oʊ v i ə /) was the area settled by Moravians in what is now Forsyth County, North Carolina, United States. Of the six 18th-century Moravian "villages of the Lord" established in Wachovia, today only the town of Bethania and city of Winston-Salem exist within the historic Wachovia Tract.
The bank was renamed in the mid-1980s after a series of mergers. After being acquired by First Union Corporation, which later also acquired Wachovia National Bank to become Wachovia Corporation, CoreStates Financial Corporation became a part of Wells Fargo in 2008 when Wachovia (formerly known as First Union) was acquired by that company.
Wachovia Securities grew through the mergers of multiple companies. Its oldest predecessor company, Leopold Cahn & Co. was founded in 1879. One of main Wachovia Securities' predecessor companies was founded in 1934 as the investment firm of J.C. Wheat & Co. Wheat fostered growth through mergers, including the 1971 merger with First Securities that created Wheat First Securities, Inc. and the ...
First Union Corporation was a bank holding company that provided commercial and retail banking services in eleven states in the eastern U.S.First Union also provided various other financial services, including mortgage banking, credit card, investment banking (First Union Securities), investment advisory, home equity lending, asset-based lending, leasing, insurance, international and ...
On Monday June 21, 2004 Wachovia Corporation announced it would buy SouthTrust in an all-stock transaction valued at $14.3 billion. [5] The merger closed on November 1, 2004. [6] The Birmingham market was the last market for the conversion to the Wachovia brand which occurred in October 2005.
On May 31, 2007, the company announced that it would be acquired by Wachovia Corporation in a $6.8 billion deal. [6] On September 28, 2007, the company's shareholders voted in favor of the merger with Wachovia. The acquisition closed on October 1, 2007, and A.G. Edwards became a wholly owned subsidiary of Wachovia Corporation. [7]
Rohrer (2001) demonstrates the social history of the community of Wachovia, founded in the North Carolina Piedmont in 1753, illustrates the importance of the beliefs and practices of the Moravians in achieving the integration and acculturation of settlers of different ethnic backgrounds.