Wells Fargo completes buyout of Wachovia; name to stay for now
Wachovia Corp. , South Carolina’s largest bank by deposits and market share, is now officially absorbed into San Francisco-based Wells Fargo & Co . As of June 30, Charlotte-based Wachovia had $11.69 billion in deposits in South Carolina, well ahead of No. 2 Bank of America, which had $7.51 billion in S.C. deposits.
Read more News Source - Charleston Regional Business Journal
Publish date - 18:37:19 01/02/09

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Despite The Bad News, Bank Customers Will Find Some Deals In 2009
Despite The Bad News, Bank Customers Will Find Some Deals In 2009
Read more News Source - Fox News
Publish date - 00:53:21 01/06/09

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Investors Approve Wells Fargo, PNC Deals
Shareholders ratified PNC Financial Services Group's deal to buy National City and Wells Fargo's deal for Wachovia last week. The deals, both set to close at year-end, would give the acquirers a huge boost in retail branches and deposits but plenty of soured mortgages to sort through.
Read more News Source - Financial Planning.com
Publish date - 17:07:04 01/02/09

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The Ratings Game: Bigger loan losses will hurt banks in 2009, Deutsche Bank says
Deutsche Bank analysts cut their profit outlook on 16 banking stocks, warning that trouble is likely to spread to more types of loans this year as the economy worsens.
Read more News Source - Market Watch
Publish date - 17:06:48 01/05/09

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Fitch: Wells Fargo Cements National Franchise with Wachovia Buy; IDR Affirmed at 'AA'
NEW YORK----Wells Fargo & Company has effectively doubled its franchise through the acquisition of Wachovia Corporation completed late on Dec. 31, 2008, according to Fitch Ratings, which has affirmed WFC's Issuer Default Rating at 'AA'.
Read more News Source - Business Wire via Yahoo! Finance
Publish date - 14:14:16 01/02/09

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Banks’ ‘Catatonic Fear’ Means Consumers Don’t Get TARP Relief
Jan. 5 (Bloomberg) -- As the new owner of $172.5 billion of preferred shares and warrants in 208 U.S. financial institutions, the Treasury Department hasn’t succeeded in thawing frozen credit markets, leaving taxpayers propping up an industry that won’t lend to them.
Read more News Source - Bloomberg via Yahoo! News
Publish date - 11:51:21 01/05/09

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THE RATINGS GAME: Bigger Loan Losses Will Hurt Banks In 2009, Deutsche Bank Says
NEW YORK (Dow Jones) -- Banking stocks traded lower Monday, retreating as Deutsche Bank analysts cut their profit outlook and warned that trouble is likely to spread to more types of loans this year as the economy worsens.
Read more News Source - Nasdaq
Publish date - 18:53:15 01/05/09

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Banking and Financial
The financial markets crisis has brought renewed focus to Material Adverse Change (MAC), or Material Adverse Effect (MAE), clauses. MAC or MAE clauses are present in virtually all merger and stock purchase agreements and are often a central feature in negotiations between the parties.
Read more News Source - Mondaq
Publish date - 17:30:34 01/05/09

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9 issues to watch in 2009 in Myrtle Beach area
After a tumultuous year for the economy, many consumers, investors and business owners were ready to say good riddance to 2008. But will the Grand Strand's economy get any better in '09? Bad news first: Home prices will continue a rough ride for most of 2009, and more people are expected to lose their jobs, sending the Grand Strand's unemployment rate into the double digits. Now some good news: ...
Read more News Source - The Myrtle Beach Sun News
Publish date - 12:11:24 01/04/09

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9 issues to watch in 2009 in Myrtle Beach area
After a tumultuous year for the economy, many consumers, investors and business owners were ready to say good riddance to 2008. But will the Grand Strand's economy get any better in '09?
Read more News Source - The Myrtle Beach Sun News
Publish date - 17:01:47 01/04/09

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