First Union is Now Wells Fargo

First Union offered a wide selection of financial and investment products to its customers. Founded in 1908 as Union National Bank, First Union was the sixth-largest banking company in the United States as of December 31, 2000. It held assets totaling more than $254 billion, with banking operations in 11 East Coast states and Washington, D.C., and brokerage operations in 47 states nationwide.

First Union’s stock was listed on the New York Stock Exchange (NYSE) under the ticker symbol FTU.

First Union merges

On September 1, 2001, First Union and Wachovia merged to create the leading retail bank presence on the East Coast and the fifth-largest full-service retail broker-dealer in the United States.

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.

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