The acquisition of Wachovia by Wells Fargo was completed on December 31, 2008, after a government-forced sale to avoid Wachovia’s failure.

Which bank acquired Wachovia?

Wells Fargo & Company
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 4,900 retail banking branches, more than 13,000 ATMs …

Who did Wells Fargo buy in 2008?

Wachovia
Acquisition of Wachovia (2008) Although at first inclined to accept a September 29 agreement brokered by the Federal Deposit Insurance Corporation to sell its banking operations to Citigroup for $2.2 billion, on October 3, Wachovia accepted Wells Fargo’s offer to buy all of the financial institutions for $15.1 billion.

Which bank did Wells Fargo buyout?

Wachovia Corporation
The new company was named Wachovia Corporation. As of December 31, 2001, it held assets totaling $330 billion and stockholders’ equity totaling $28 billion. In 2008, Wells Fargo & Company acquired Wachovia Corporation, including First Union.

Are printed checks legal?

Is Check Printing Legal? Yes, printing checks from your own printer is perfectly legal. However, they must be printed on special paper.

Where was Wachovia Bank before Wells Fargo bought it?

Former type. 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.

How much did Citigroup pay for Wachovia Bank?

On Monday, Citigroup agreed to buy Wachovia’s banking operations for $2.16 billion in a deal orchestrated by the federal government. That deal, which had been approved by the boards of both companies, was still subject to approval by Wachovia’s shareholders and regulators. It is not clear whether Citigroup will have to pay a break-up fee.

What was the stock price of Wachovia in 2007?

Sitting on my desk in front of me, as I type this article, is an analyst report by Morningstar for Wachovia dated December 31st, 2007. This is the bank that was built almost entirely on the foundation of R.J. Reynolds Tobacco in Winston-Salem . At the time, Wachovia common stock had closed at $38.03 and was paying a very rich 6.31% dividend yield.

When did fidelity become part of Wachovia Corporation?

In 1995, however, it acquired First Fidelity Bancorporation of Newark, New Jersey; at one stroke becoming a major player in the Northeast. Its Northeastern footprint grew even larger in 1998, when it acquired CoreStates Financial Corporation of Philadelphia.