Find your top companies
 High revenue growth  High profit growth
 High EPS growth  High return to investors
 Top 5 in its industry  Best company to work for
 Big employer  Small employer



Video
  • NEXT
    Wal-Mart by the numbers
    A look inside the retail giant, the No. 1 company on the Fortune 500 list - from salaries to its biggest-selling product. Watch
  • NEXT
    BACK
    Customize a Dreamliner
    Boeing, No. 27 on the Fortune 500, relies on thousands of workers around the globe to manufacture each unique 787. Watch
  • NEXT
    BACK
    Nike's run-up to the Olympics
    A major footwear supplier to the Games, and no. 153 on this year's list, says it's not their job to address concerns over human rights in China. Watch
  • BACK
    Apparel giant's success secret
    VF, no. 335 on this year's list, boosts growth by buying successful cult brands, like shoemaker Vans, and giving them freedom to flourish. Watch
FAQ and methodology
Included in the survey are U.S. incorporated companies filing financial statements with a government agency. This includes private companies... More
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe

Our annual ranking of America's largest corporations

  • All
    companies
  • All
    industries
38 of 1000
BACKNEXT
38. Wachovia Corp.
Wachovia Corp.
Financials: Latest Results
Rank: 38 (Previous rank: 46)
Compare tool: Wachovia Corp. vs. Top 10
CEO: G. Kennedy Thompson
Address: 1 Wachovia Center
Charlotte, NC 28288
Phone: 704-374-6565
Website: www.wachovia.com
The fourth-largest U.S. bank's $24 billion acquisition of Golden West in 2006 has proved to be an expensive gamble due to the risky adjustable rate mortgages it assumed as part of the deal, which now account for $120 billion of Wachovia's $170 billion mortgage portfolio.

Slow to acknowledge the extent of its problem, executives at Wachovia continue to deny the bank was at risk, but hedged its bet with other investments. In April, the company set aside $2.8 billion for anticipated loan losses and announced plans to raise $7 billion in new capital by selling stock. Last fall, it acquired brokerage firm A.G. Edwards, which now operates as Wachovia Securities, for $6.8 billion.

Revenues 55,528.0 18.6
Profits 6,312.0 -19.0
Assets 782,896.0
Stockholders' equity 76,872.0
Market value (3/28/2008) 51,501.5
Revenues 11.4
Assets 0.8
Stockholders' equity 8.2
2007 $ 3.26
% change from 2006 -29.6
1997-2007 annual growth rate % 0.9
2007 -29.8
1997-2007 annual rate 0.8
1 Citigroup 8 159,229.0
2 Bank of America Corp. 9 119,190.0
3 J.P. Morgan Chase & Co. 12 116,353.0
4 Wachovia Corp. 38 55,528.0
5 Wells Fargo 41 53,593.0
6 U.S. Bancorp 122 20,308.0
7 Capital One Financial 130 18,965.5
8 Bank of New York Mellon Corp. 172 14,798.0
9 SunTrust Banks 193 13,464.6
10 State Street Corp. 225 11,818.0
11 National City Corp. 226 11,791.3
12 Regions Financial 245 10,753.8
13 BB&T Corp. 250 10,668.0
14 PNC Financial Services Group 264 9,956.0
15 Fifth Third Bancorp 307 8,494.0
16 KeyCorp 321 7,873.0
17 Marshall & Ilsley Corp. 425 5,745.2
18 Northern Trust Corp. 447 5,395.1
19 Comerica 501 4,618.0
20 M&T Bank Corp. 509 4,477.8
21 Synovus Financial Corp. 511 4,462.8
22 Popular 571 3,822.5
23 Zions Bancorp. 589 3,617.7
24 Huntington Bancshares 610 3,419.6
25 Commerce Bancorp 643 3,179.7
26 First Horizon National Corp. 650 3,165.9
27 Colonial Bancgroup 964 1,742.7
From the May 5, 2008 issue
Acquired A.G. Edwards (2007 rank: 655), Oct. 1, 2007.

Robert K. Steel replaced interim CEO Lanty L. Smith at Wachovia Corp. July 8. Mr. Smith had replaced G. Kennedy Thompson June 2.
See Wachovia Corp. in...
...Top 50 Headquarters
MAPS
...What Readers Say
They speak out on Wachovia Corp. and other 500 companies...
 
 
 
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.