Wachovia

Wachovia Declares Dividend On Series A Preferred Securitie

Armen Hareyan — Thu, 04 Jun 2009 15:50:05 -0500

Wachovia Preferred Funding Corp. (NYSE: WNAPr) announced today that its board of directors has declared a regular quarterly dividend on its Series A 7.25% preferred securities. The dividend is equal to $0.453125 per Series A security.

Wells Fargo Unveils 3 New Mobile Money Features

Armen Hareyan — Thu, 04 Jun 2009 15:09:33 -0500

Wells Fargo and Wachovia unveiled 3 new CEO mobile banking features that help the busy executives to see where their money is and what is it doing.

Wachovia Improves Online Banking And Customer Satisfaction

Armen Hareyan — Fri, 13 Mar 2009 07:17:07 -0500

Once I went to Wachovia to open a bank account. This was about three years ago. Being a Bank of America customer and despite low interest rates liking its online banking I asked the representative about Wachovia's online banking. While she said that they are good she acknowledged that Bank of America is the leader in online banking. However, it seems that Wachovia online banking services have gone a long way becoming an industry leader with superior customer satisfaction.

Morgan, Goldman Now Banks, Wachovia Left Out in the Cold

Armen Hareyan — Mon, 22 Sep 2008 13:39:35 -0500

Both Morgan Stanley and Goldman Sachs lobbied the Federal Reserve to become bank holding companies over the weekend. Their bid was approved by the Fed, ending the era of the independent investment bank.

Wachovia's Abysmal Earnings, Refuses To Admit Golden West Is Impaired

Armen Hareyan — Tue, 22 Jul 2008 09:08:40 -0500

We need to give Wachovia a bit of credit for warning investors that its earnings were going to be dismal. When you are a week away from posting a nearly $9 billion loss, and the boneheaded analyst community is still anticipating a profit, it's wise to issue a press release.

Analyst Calls Wachovia Stock Prospects Bleak

Armen Hareyan — Tue, 15 Jul 2008 14:24:32 -0500

Analyst Merideth Whitney, who has gained some infamy lately with here bearish (and accurate) calls about the fallout from the housing debacle, called Wachovia's (NYSE: WB) prospects ‘bleak’ and downgraded the company to underperform due to the continued deterioration of the housing and mortgage markets.

Wachovia Mortgage Eliminates Pick-A-Payment Mortgage Loan

jredz — Mon, 30 Jun 2008 22:58:50 -0500

Wachovia is eliminating all mortgage products, such as the “Pick-A-Payment” mortgage, that include payment options that can result in negative amortization. Additionally, Wachovia Corp. has decided to eliminate pre-payment penalties on its controversial “Pick-A-Payment” mortgage to help its customers deal with the recent landscape changes within the mortgage and financial markets in the US.

Wachovia Ousts CEO Thompson

Armen Hareyan — Mon, 02 Jun 2008 15:08:30 -0500

The Wachovia board ousted CEO Kennedy Thompson, blaming him for write-downs that have cost the company half its market value over the last year. Thompson was the lead architect on the purchase of World Savings (a/k/a Golden West) which was a leading Option ARM lender in California right at the peak of the housing bubble. When that deal went down any sane person had to wonder what was he thinking. From Bloomberg on Thompson’s removal:

Two Wachovia’s employees are under suspicion

seher — Thu, 28 Feb 2008 12:46:25 -0600

Wachovia Corp on Thursday said two employees in its main banking unit are targets of a U.S. Department of Justice probe into competitive bidding in the municipal derivative markets.

Wachovia Surpasses $1 Billion in Daily Remote Deposit

Armen Hareyan — Tue, 21 Aug 2007 10:53:46 -0500

Wachovia's Treasury Services division today announced it has reached the $1 billion mark in Remote Deposit Capture (RDC) volumes processed in one day.

Wachovia Earns Record $2.34 Billion

Anastvatz — Fri, 20 Jul 2007 07:23:54 -0500

EPS up 4% to $1.22 in 2nd quarter 2007

A.G. Edwards to be bought by Wachovia for $6.8 billion

Armen Hareyan — Thu, 31 May 2007 08:58:37 -0500

Wachovia Corp. and A.G. Edwards Inc. announced today an agreement under which Wachovia will acquire A.G. Edwards, which will be combined with Wachovia Securities, LLC, to create an industry-leading retail brokerage firm with $1.1 trillion in client assets and nearly 15,000 financial advisors. The combined firm will have an enhanced share of the U.S. brokerage market with significantly increased penetration in 48 of the 50 largest metropolitan statistical areas.