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Wachovia Corporation

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News and Blogs

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Wachovia sees private banking growth from event based marketing | Banking Technology magazine

www.bankingtech.com | Oct 21, 2009

When Wachovia Bank looked for a way to grow its private banking business, it chose to try and improve the quality of contact with its

http://www.bankingtech.com/bankingtech/article.do?articleid=20000162123

Wells Fargo 3Q profit rises to $3.2 billion

www.kansascity.com | Oct 21, 2009

Wells Fargo & Co. on Wednesday reported a $2.6 billion third-quarter profit as the company's retail banking operations, including the businesses it acquired with the purchase of Wachovia Corp., offset rising loan losses.

http://www.kansascity.com/438/story/1520596.html

 

Wachovia Visa Gift Card, Toys for Tots Join Forces to Put Presents Under the Tree for Less

With the national unemployment rate now above 10 percent, Wachovia, a unit of Wells Fargo & Company (NYSE: WFC), announced it will donate $1 to Toys for Tots for every Visa gift card it sells through December 31, 2009 -- up to $250,000. Proceeds will provide toys to children who might otherwise not receive them this holiday season.

Wachovia customers can purchase the Visa gift cards in whole dollar amounts from $25 to $600 at Wachovia retail bank locations or online at Wachovia.com/giftcard. The cards can be used wherever Visa debit cards are accepted. There is a one-time charge of $3.95.

"As the economy continues to suffer, more children than ever will likely face Christmas morning without a toy," said Bill Grein, vice president of marketing for the Marine Toys for Tots Foundation. "As a result, Toys for Tots is expecting an unprecedented increase in requests for toys, as more families must choose between putting food on the table or a gift under the tree. We are thankful to Wachovia for helping us reach these families in their time of need."

Gift cards also can be enrolled in Visa Online Discounts, allowing cardholders to enjoy additional savings with select merchants.

"Now more than ever, it's essential for our communities to band together and help Toys for Tots deliver the magic of the holidays to every child who might otherwise wake up to an empty tree on Christmas morning," said Lionel Means, vice president of Wachovia Prepaid Product. "We're proud to offer our customers a great product while giving back to Toys for Tots, an organization that puts a smile on the faces of children who are facing tough times."

For 62 years, the mission of Toys for Tots has been to make a positive impact on the lives of our most precious resource -- our children. Through the gift of a shiny new toy during the holidays, Toys for Tots sends a message to economically disadvantaged children that someone cares, that they have not been forgotten and that the magic of the holiday season has not passed them by. Each gift instills a sense of pride, provides positive recognition and makes a positive impact on the life of a child for years to come. Additional information can be found online at www.toysfortots.org .

Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.

SOURCE: Wells Fargo & Company

The Marine Toys for Tots Foundation 
Misti Dragano, 410-263-5312 
Mdragano@1stdegree.com 
or 
Wachovia Gift Cards 
Lisa Westermann, 415-222-6236 
Lisa.b.westermann@wellsfargo.com

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Tags: bank   banking   children   consumer   dollar   finance   financial services   food   foundation   insurance   marketing   mortgage   north america   nyse   online   president   retail   toys   unemployment  

Companies: Wells Fargo & Co. (WFC)

 

Former Wachovia Executive Team To Lead South Carolina Bank and Trust's Entry Into The Spartanburg

John Windley, president of South Carolina Bank and Trust (SCBT) announced today that four former Wachovia wealth management executives will lead SCBT's entry into Spartanburg.

"Founded in 1933, SCBT has been serving the financial needs of South Carolinians for more than 75 years," said Windley. "Our niche is community banking. We believe in South Carolina and understand the needs of the local markets. This will be our first step into the Spartanburg market, further expanding our commitment to the Upstate and rounding out our presence throughout the state."

"Bill Coker will lead the team of seasoned executives including, Frank Sanders, Charles Williams and Brian Barker in providing a new dimension to our private banking and wealth management capabilities. The Spartanburg based initiative will eventually include banking and credit services to round out a full service offering," said Todd Harward, president, SCBT Wealth Management Group.

"We are fortunate to have the exceptional local leadership to be able to take our wealth management and private banking offering to a new level," said Windley. "Bill, Frank, Charles and Brian add a depth of expertise and style of full service relationship management that we will be able to leverage across the Carolinas."

A native of Spartanburg, Coker has 27 years of banking experience with Wachovia and its predecessors. Previously, he served as senior relationship manager for Wachovia's wealth management clients.

Coker earned an undergraduate degree from the University of Virginia and is a graduate of the Stonier Graduate School of Banking at the University of Delaware. He is a Certified Financial Planner and holds his FINRA Series 7 and Series 63 licenses.

"SCBT is committed to the same vision that is to provide comprehensive, objective advice through a fully integrated platform, serviced locally by a team of professionals," said Coker. "I am looking forward to being part of this entrepreneurial company. There is a great opportunity for a well-capitalized bank to focus on wealth and private banking in Spartanburg and the Upstate market."

Frank Sanders, also a Spartanburg native, has more than 20 years experience with Wachovia and previously NationsBank in the Trust Department. Frank earned his Juris Doctorate from the USC School of Law and his undergraduate degree from Wofford. Sanders also maintains his CTFA (Chartered Trust Financial Advisor) designation.

With more than 20 years experience in the investment business, Charles Williams has been a portfolio manager for Wachovia since 2003. Williams is a graduate of the Asheville School and the University of North Carolina Asheville. He maintains his CFP (Certified Financial Planner) designation.

Brian Barker has over 10 years experience in the investment management business and has been a portfolio manager for Wachovia since 2003. Barker earned his undergraduate degree in Economics from Clemson University and his MBA from the University of South Carolina in Columbia. Barker is the current president of the SC Chapter of the Financial Planning Association, and maintains his professional designations, CFP (Certified Financial Planner), CTFA (Chartered Trust Financial Advisor) and AIF (Accredited Investment Fiduciary).

SCBT Financial Corporation, Columbia, South Carolina is a registered bank holding company incorporated under the laws of South Carolina. The Company consists of SCBT, N.A., the third largest bank headquartered in South Carolina and NCBT, a Division of SCBT, N.A. Providing financial services for over 75 years, SCBT Financial Corporation operates 48 financial centers in 16 South Carolina counties and Mecklenburg County in North Carolina. Named in Forbes as one of the 100 Most Trustworthy Companies in America, SCBT Financial Corporation has assets of approximately $2.8 billion and its stock is traded under the symbol SCBT in the NASDAQ Global Select Market. More information can be found at www.SCBTonline.com.

SOURCE: SCBT Financial Corporation

SCBT Financial Corporation 
Donna Pullen, 803-765-4558

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Tags: bank   banking   business   community   delaware   executive   financial planner   investment   law   licenses   local   market   north carolina   president   south carolina   university   virginia  

Companies: SCBT Financial Corp (SCBT)

 

NCBT Adds Three Professionals to Charlotte Office - Zibb.com

North Carolina Bank and Trust (NCBT) announced that Cutter D. Davis, Jr., Andrew B. Griffin and Tasha C. Smith have joined the company.

Davis and Griffin joined NCBT as senior vice presidents in the commercial banking division and will focus mainly on privately held middle market companies in the Charlotte region. Smith is project coordinator responsible for administration for the North Carolina bank.

Cutter Davis

With over 19 years of banking experience, Davis came to NCBT from Wachovia, where he was a senior vice president and senior relationship manager in the commercial banking division. Previously he worked in Wachovia's corporate and investment banking group and in human resources. Prior to joining Wachovia, Davis was with RBC Bank's commercial markets group.

A native of Charlotte, Davis received an undergraduate degree from the University of North Carolina at Chapel Hill, and an MBA from the Babcock School of Wake Forest University.

Andrew Griffin

Griffin, who has over 16 years experience, joins NCBT from Wachovia, where he was a senior vice president and senior relationship manager in its commercial banking division. Prior to that, he was a vice president in Wachovia's corporate and investment banking group. Before joining Wachovia, he was a corporate loan officer with BB&T.

Griffin is a native of Charlotte. He has an undergraduate degree from Wake Forest University, and an MBA from Wake Forest's Babcock School.

Tasha Smith

With 11 years experience in banking, Smith comes to NCBT from RBC Bank, where she was director of administration for its commercial markets group in the United States. Also at RBC, Smith served as the human resources business partner responsible for western North Carolina and South Carolina.

Smith is a native of Hendersonville, and a graduate of Western Carolina University.

North Carolina Bank and Trust (NCBT) focuses on commercial middle market banking, business banking, and private banking, and operates three locations in Mecklenburg County in North Carolina. NCBT is a division of SCBT, N.A., a subsidiary of SCBT Financial Corporation, which was named in Forbes as one of the 100 Most Trustworthy Companies in America. SCBT Financial Corporation has assets of approximately $2.8 billion and its stock is traded under the symbol SCBT in the NASDAQ Global Select Market. More information can be found at www.NCBTonline.com.

SOURCE: SCBT Financial Corporation

North Carolina Bank and Trust 
Robinson Lyle, 704-526-3627

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Tags: bank   banking   business   commercial   corporate   investment banking   market   north carolina   president   south carolina   university  

Companies: SCBT Financial Corp (SCBT)

 

IMAX Corporation Receives Commitment Letter From Wachovia With Participation of Export Development



     New Facility Extends to October 2013 and Will Allow for
                Increased Borrowing Capacity

    Company Intends to Redeem Remaining Senior Notes by Year-end

TORONTO, Nov. 5, 2009 (GLOBE NEWSWIRE) -- IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today announced that it has entered into a commitment letter with Wachovia Capital Finance Corporation pursuant to which Wachovia, with the participation of Export Development Canada, has committed to provide a four-year senior secured $75 million credit facility. Upon execution of definitive documents, the credit facility will consist of revolving loans of up to $40 million and a term loan of $35 million. Once completed, the Company intends to use the new facility to finance its future growth and working capital requirements. The proposed credit facility matures on October 31, 2013 and will replace the Company's previous $40 million credit facility which was to mature in October of 2010.

As currently contemplated, borrowings under the credit facility will bear interest at variable rates based on LIBOR or Wachovia's prime rate plus variable margins at the Borrower's option, under which applicable interest rates currently range from 3.03% to 4.03% per annum.

As previously announced on October 2, 2009, the Company called $75 million of its Senior Notes for redemption on December 1, 2009. The Company intends to redeem the remaining $29.4 million of its Senior Notes by year-end.

"This proposed new facility, combined with the redemption of our remaining senior notes, are very important steps toward creating a capital structure that will enable the Company to further realize the growth potential for the IMAX brand," said Richard L. Gelfond, Chief Executive Officer of IMAX Corporation. "We believe our progress throughout this year to strengthen our balance sheet and enhance our financial flexibility is reflective of the early success we have achieved with our new business model and our entry in the digital arena."

About IMAX Corporation

IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. The worldwide IMAX network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX(R) theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R) technology. IMAX DMR is the Company's groundbreaking digital re-mastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience(R). The IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2009, there were 403 IMAX theatres (280 commercial, 123 institutional) operating in 44 countries.

IMAX(R), IMAX(R) 3D, IMAX(R) DMR, Experience It In IMAX(R), The IMAX 3D Experience(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).

The IMAX Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6469

This press release contains forward looking statements that are based on management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include, but are not limited to, general economic, market or business conditions, including the length and severity of the current economic downturn, the opportunities that may be presented to and pursued by the Company, the performance of IMAX DMR films, conditions in the in-home and out-of home entertainment industries, the signing of theatre system agreements, changes and developments in the commercial exhibition industry, the failure to convert theatre system backlog into revenue, investments and operations in foreign jurisdictions, foreign currency fluctuations and the Company's prior restatements and the related litigation and ongoing inquiries by the SEC and the OSC. These factors and other risks and uncertainties are discussed in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: IMAX Corporation

CONTACT: IMAX Corporation, New York
Media:
Sarah Gormley
212-821-0155
sgormley@imax.com
Investors:
Heather Anthony
212-821-0121
hanthony@imax.com
Rogers & Cowan, Los Angeles
Entertainment Media:
Elliot Fischoff/Jason Magner
310-854-8128
jmagner@rogersandcowan.com
Sloane & Company, New York
Business Media:
Whit Clay
212-446-1864
wclay@sloanepr.com

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Tags: annual report   business   canada   ceo   commercial   entertainment   export   finance   interest rates   nasdaq   prime rate   rates   revenue   technology   toronto  

Companies: Imax Corporation (IMAX), Imax Corporation (IMX)

 

Web Sites

Total : 1,387 View more »

Congress Financial

Wachovia's Asset Based Lending Group and Congress Financial have joined to form a stronger Wachovia Capital Finance. As a result, we'll be able to bring you the full array of products and services Wachovia has to offer in your location.

http://www.congressfinancial.com/

Wachovia - Personal Finance and Business Financial Services

Securities and Insurance Products not Insured by FDIC† or any Federal Government Agency — May lose value — Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate

http://www.wachovia.com/

Wachovia Capital Partners

Since our inception, we have invested in over 200 middle market companies and have developed a strong track record of strategic growth and success for our portfolio companies.

http://www.wachoviacapitalpartners.com/

Westcorp

Welcome to Wachovia. In March 2006, Westcorp merged with Wachovia Corporation (NYSE: WB). Wachovia.com is the Web site for all of your financial services needs. We look forward to serving your financial needs for many years to come.

http://www.wfb.com/

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Wachovia - Personal Finance and Business Financial Services

www.wachovia.com

Visit Wachovia to learn about personal and business financial services for your needs. Wachovia provides personal finance, small business, corporate and institutional, and wealth ...

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Wachovia - Wikipedia, the free encyclopedia

en.wikipedia.org

Wachovia Corporation. http://firstunion.com/. Retrieved 2007-10-14. ^ First Union Corp. SEC Form 10-K Annual Report for 2000. (Final 10-K prior to announcement of the Wachovia ...

http://en.wikipedia.org/wiki/Wachovia

Wachovia Corporation News - The New York Times

topics.nytimes.com

News about the Wachovia Corporation. Commentary and archival information about the Wachovia Corporation from The New York Times.

http://topics.nytimes.com/top/news/business/companies/wachovia_corporation/index.html?inline=nyt-org

Wachovia Careers

wachovia.com

Our biggest competitive advantage? Our people. Here at Wachovia, we have worked ... © 2009 Wachovia Corporation. All rights reserved.

http://wachovia.com/careers