CoreStates is Now Wells Fargo

CoreStates Financial Corporation, a bank holding company, was based in Philadelphia. It offered retail, corporate, and small business banking, international trade finance, cash management, and other financial services. It was also a pioneer in electronic banking. As of December 31, 1997, its consolidated assets totaled approximately $48.5 billion and shareholders’ equity totaled approximately $3.2 billion.

CoreStates’ stock was listed on the New York Stock Exchange (NYSE) under the ticker symbol CFL.

CoreStates is acquired

In April 1998, CoreStates was acquired by First Union, creating the sixth-largest banking company in the United States. On September 1, 2001, First Union and Wachovia merged to form Wachovia Corporation.

In 2008, Wells Fargo & Company acquired Wachovia Corporation, including First Union.

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