-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SwbQmtxH1Jpl8ueNIqvLjCDUXcCelX7PcvnXg5te35arTt5NtK8DlMQ1ZcWF32Un alrRzNvbvOMTDUmtbxBasg== 0000950168-01-000166.txt : 20010207 0000950168-01-000166.hdr.sgml : 20010207 ACCESSION NUMBER: 0000950168-01-000166 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010206 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WACHOVIA CORP/ NC CENTRAL INDEX KEY: 0000774203 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 561473727 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-09021 FILM NUMBER: 1525874 BUSINESS ADDRESS: STREET 1: 100 N MAIN ST STREET 2: P O BOX 3099 CITY: WINSTON SALEM STATE: NC ZIP: 27150 BUSINESS PHONE: 3367705000 MAIL ADDRESS: STREET 1: 100 NORTH MAIN ST STREET 2: P O BOX 3099 CITY: WINSTON SALEM STATE: NC ZIP: 27150 FORMER COMPANY: FORMER CONFORMED NAME: FIRST WACHOVIA CORP DATE OF NAME CHANGE: 19910603 8-K 1 0001.txt WACHOVIA CORPORATION SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): February 6, 2001 WACHOVIA CORPORATION (Exact name of registrant as specified in its charter)
NORTH CAROLINA No. 1-9021 No. 56-1473727 (State or other jurisdiction of (Commission File Number) (IRS Employer incorporation) Identification No.)
100 North Main Street, Winston-Salem, NC 27101 191 Peachtree Street NE, Atlanta, GA 30303 (Address of principal executive offices) Registrant's telephone number, including area code: Winston-Salem 336-770-5000 Atlanta 404-332-5000 Not Applicable (Former name or former address, if changed since last report) Items 1 - 4. Not Applicable Item 5. Other Events On February 6, 2001, Wachovia Corporation issued a press release announcing that it was exploring strategic alternatives for its consumer credit card business. Item 6. Not Applicable Item 7. Exhibits. 99.1 Press Release, dated February 6, 2001, issued by Wachovia Corporation. Item 8. Not Applicable Item 9. Not Applicable SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WACHOVIA CORPORATION By: /s/ David L. Gaines. -------------------- Name: David L. Gaines Title: Senior Vice President and Comptroller Date: February 6, 2001 EX-99.1 2 0002.txt PRESS RELEASE EXHIBIT 99.1 For Additional Information: Ed L. Hutchins, 336-732-4200 ed.hutchins@wachovia.com February 6, 2001 FOR RELEASE: Immediately Wachovia Exploring Strategic Alternatives for its Credit Card Business Wachovia Corporation today announced that it has retained Credit Suisse First Boston to assist in an evaluation of strategic alternatives for Wachovia's consumer credit card business. Alternatives could include retaining the business, developing a joint venture or selling the card business. Wachovia Bank Card Services is the nation's 12th largest bank card issuer with approximately $8 billion in receivables from nearly 2.8 million active accounts. "Wachovia has built a strong credit card portfolio and has some of the best performance ratios in the business when measured by return on assets, efficiency and credit loss," said L.M. Baker Jr., Wachovia chairman and chief executive officer. "Significant consolidation has occurred in this business in recent years, leading to a very competitive environment. Increasingly there are pressures to spend heavily on marketing programs designed to retain and acquire customers to achieve growth. "Although highly profitable, the credit card business is not as relationship-focused as other Wachovia lines of business. Accordingly, it makes sense for us to examine alternatives to maximize shareholder value in this business line." Wachovia Corporation, with dual headquarters in Atlanta and Winston-Salem, N.C., is a leading financial holding company serving regional, national and international markets. As of Dec. 31, 2000, Wachovia had assets of $74 billion. Wachovia Bank, N.A., the principal subsidiary, has nearly 700 offices and 1,400 ATMs in Florida, Georgia, North Carolina, South Carolina and Virginia. Credit Suisse First Boston is a leading global investment banking firm serving institutional, corporate, government and individual clients. This news release contains forward-looking statements regarding Wachovia Corporation. All forward-looking statements involve risk and uncertainty and actual results could differ materially from the anticipated results or other expectations expressed in the forward-looking statements. A discussion of factors that could cause actual results to differ materially from those expressed in the forward-looking statements is included in Wachovia's filings with the Securities and Exchange Commission. -----END PRIVACY-ENHANCED MESSAGE-----