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As of June 30, 2008
Assets: | $812.4 billion | ||||||
Total Deposits: | $447.8 billion | ||||||
Stockholders' Equity: | $75.4 billion | ||||||
Headquarters: | Wachovia Corporation | ||||||
Investor Relations: | 301 South College Street | ||||||
Ranking: | Fourth largest bank holding company in the United States based on assets. Third largest U.S. full-service brokerage firm based on financial advisors. | ||||||
Financial Services: | Full financial services through offices in 21 states - Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Kansas, Maryland, Mississippi, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, Virginia—plus Washington, D.C. Full-service retail brokerage with offices nationwide through Wachovia Securities LLC. Other nationwide businesses include investment banking products and services in selected corporate and institutional sectors globally, mortgage lending, student lending, and auto dealer finance. Globally, international correspondent services and trade finance, as well as corporate and investment banking in selected sectors are provided through more than 40 international offices. | ||||||
Customers: | 15 million households and businesses; 15.4 million online product and service enrollments; 5.1 million active online customers. | ||||||
Employees: | 120,000 | ||||||
Financial Centers: | Personal service and advice through 3,300 financial centers and more than 1,500 retail brokerage offices. These staffs include 18,940 Series 7 and Series 6 registered representatives. | ||||||
ATMs: | Convenient access to 5,300 automated teller machines. | ||||||
Toll-Free Banking: | Wachovia: (800) 922-4684 | ||||||
Online Services: | Banking - wachovia.com | ||||||
Products & Services: | Complete banking services, retail brokerage services, asset management, wealth management, and innovative products for individual customers. Financial expertise in treasury services, corporate and investment banking, and international banking for business customers. Also offer credit and check card products, trust services, auto dealer finance, mortgage banking, student lending, and home equity lending. | ||||||
Key Subsidiaries: | Wachovia Bank, N.A., Wachovia Mortgage, FSB, Wachovia Securities, LLC, Wachovia Capital Markets, LLC | ||||||
Management: |
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Stock: | 2.1 billion shares of common stock outstanding. Stock trades on the New York Stock Exchange under the WB symbol.
Tier 1: 8.0% (4% minimum) | ||||||
Asset Quality: | Loans written off as losses as a percent of average loans: 1.10%. Nonperforming assets as a percent of loans and leases: 2.41%. | ||||||
Debt Rating: | Senior debt rated Aa3 by Moody Investor Service, AA- by Standard & Poor's and AA- by Fitch. | ||||||
History: | The former Wachovia (founded in 1879 in Winston, NC) and First Union (founded in 1908 in Charlotte, NC) merged on September 1, 2001, to create Wachovia Corporation. Wachovia (pronounced wa-KO-vee-yah) is the latinized form of the name Wachau, which was given to the tract of land in the Piedmont region of North Carolina settled by Moravians in 1753. The name honored the settlers' connections to the Wachau Valley along the Danube River. | ||||||
Media Contact: | Mary Eshet | ||||||
Investor Contact: | Alice Lehman |
Note: Updated September 03, 2008
Related Links
•Investor Relations
•Debt Ratings
•Merger & Investment History
About Wachovia