WACHOVIA BANK AND TRUST COLLECTION, 1958
(Small Collections--Business) 2 folders
ABSTRACT
Wachovia National Bank was founded in Winston-Salem in 1879 by William A. Lemly.
This was a popular name in the area, as the Moravians had named their settlement
Wachovia. In 1893, Wachovia Loan and Trust Company also opened in Winston-Salem.
Twenty years later, in 1911, the companies merged, forming the Wachovia Bank and
Trust Company.
Wachovia did well in the wake of its merger, handling money and clients conservatively.
It was even sound enough during the Depression to lend money to the state. This
pattern continued over the years, and although Wachovia’s managers took risks, they
were careful. Technology allowed the company to grow as well, and Wachovia
expanded throughout the Southern United States. In 1985, Wachovia bought First
Atlanta Corporation, creating headquarters in both Winston-Salem and Atlanta. In 1991,
the company acquired South Carolina National Bank, which had roots dating to the
American Revolution.
Although Wachovia continued to expand throughout the 1990s, it became clear that
smaller banks were being taken over at an increasing rate. Wachovia successfully
fended off a hostile takeover bid by SunTrust Bank, Inc. in 2001, and instead agreed to
be bought by First Union Corporation in Charlotte. This allowed for the continuation of
the Wachovia name, however the headquarters moved to Charlotte. Wachovia merged
again in 2006, this time with South-Trust Corporation. After Wachovia suffered losses in
2008, Wells Fargo bought the company.
This collection includes documents.
ACCESS
This collection is open to the public without restriction. The copyright law of the United
States (Title 17, United States Code) governs the making of photocopies or other
reproductions of copyrighted material.
PREFERRED CITATION
Cite as: Wachovia Bank and Trust Collection, 1958, Robinson-Spangler Carolina Room,
Charlotte Mecklenburg Library
REFERENCES
Martin, Edward. “The Wachovia Way.” Business North Carolina.
http://www.businessnc.com/articles/2011-10/the-wachovia-way-category/
Martin, Jonathan. “The Wachovia Corporation.” North Carolina History Project.
http://www.northcarolinahistory.org/encyclopedia/576/entry
Wells Fargo. Wachovia Is Now Wells Fargo.
https://www.wellsfargo.com/about/corporate/wachovia/
RELATED MATERIALS
Banks—Wachovia Bank. (CALL NUMBER: NCR VERTICAL FILES)
Rothacker, Rick. Banktown: The Rise and Struggles of Charlotte’s Big Banks. WinstonSalem, NC: John F. Blair, 2010. (CALL NUMBER: NCR 332.109756 R68 2010)
Stephenson, Gilbert Thomas. The Life Story of a Trust Man: Being that of Francis Henry
Fries, President of The Wachovia Bank and Trust Company, Winston-Salem, North
Carolina, Since February 16, 1893. New York: F.S. Crofts & Co., 1930. (CALL
NUMBER: NCR B FRIES)
SCOPE AND CONTENT NOTE
The Wachovia Bank and Trust Collection is a small collection formerly from the
Ephemera Collection. It consists of a letter and blank checks. The letter dates from
1958, and the checks are undated.
SERIES LIST
CONTENTS
Correspondence, 1958
A letter from Wachovia Bank to its customers announcing a
Travel Agency Department would open in the bank, 1958.
Financial, undated
Checks from Wachovia Bank and Trust Company in
checkbook, undated.
BOX FOLDER
2
17
2
18