First Union
| First Union Corp. | |
|---|---|
|
|
| Country |
 United States
|
| Seat | Charlotte , North Carolina |
| legal form | Corporation |
| founding | 1908 |
| Website | www.firstunion.com |
| Business data 2000 | |
| Employee | 71,262 |
| Offices | 2193 |
| management | |
| Board | G. Kennedy Thompson (CEO and President) |
First Union was a major US bank headquartered in Charlotte , North Carolina . First Union provided banking services in the eastern United States and was the sixth largest bank in the United States by total assets. The company began as Union National Bank in 1908 and operated a single bank counter in a Charlotte hotel lobby. After a merger with First National Bank in 1958, the bank was renamed First Union National Bank of North Carolina and has operated as First Union Corporation since 1967 . With the takeover of Wachovia for $ 13.4 billion in 2001, the institute grew to become the fourth largest financial institution in America, but at the same time the history of the company name First Union ended , as the name of the acquired Wachovia was adopted with the merger. The First Union brand was completely abandoned in 2003. Wachovia was acquired by Wells Fargo in 2008 following financial difficulties resulting from the financial crisis .
Individual evidence
- ↑ a b Wells Fargo : First Union is Now Wells Fargo (English), accessed on August 9, 2018
- ↑ SEC : FIRST UNION CORPORATION 2000 ANNUAL REPORT , accessed August 9, 2018
- ↑ Der Tagesspiegel : Takeover: First Union buys Wachovia , accessed on August 9, 2018