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What will Wachovia's sale will mean for Lancaster?

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By Chris Sardelli

It was a wild week for Charlotte-based bank Wachovia.

The banking institution that has more than 3,300 locations in 21 states, including one on North Main Street in Lancaster, first made headlines early last week with the announcement that Citigroup would buy its operations.

That was until Friday, when San Francisco-based Wells Fargo & Co. presented Wachovia with an $15.1 billion offer to buy its operations without government assistance. Under Citigroup's $2.1 billion proposal, the Federal Deposit Insurance Corp., or FDIC, would have supervised the deal.


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Lancaster News | circulation@thelancasternews.com | 803-283-1133
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