Wachovia Corporation is one of the largest providers of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation, with assets of $389 billion and stockholders' equity of $33 billion at Sept. 30, 2003. Its four core businesses, the General Bank, Capital Management, Wealth Management and the Corporate and Investment Bank, serve 9 million households, including 900,000 businesses, primarily in 11 East Coast states and Washington, D.C. Its broker-dealer, Wachovia Securities, LLC, serves clients in 48 states. Global services are provided through more than 30 international offices. 

Wachovia Corporation (NYSE : WB) est l'un des plus  importantsfournisseurs de services financiers aux clients des secteurs du  détail, ducourtage et des entreprises sur la côte est et dans l'ensemble du pays. Au 31décembre 2003, elle comptait un actif de 401 milliards de
dollars, une valeuren bourse des actions de 61 milliards de dollars et des capitaux propres de 33 milliards de dollars.

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1st QUARTER 2007 COMPARED WITH 1st QUARTER 2006

Double-digit earnings growth despite difficult interest rate environment. Results include acquisitions and divestitures. 
Record earnings in retail brokerage and asset management. 
Average core deposits up 27 percent. Outstanding checking account growth throughout footprint, with excellent results in expanded markets. 
Average loans up 59 percent, including acquisitions, with particular strength in commercial and small business lending. Expanded consumer franchise including auto lending and credit cards generating results ahead of expectations. 
Solid credit quality; increased provision reflects growth in credit card, commercial and auto lending. 
Customer loyalty scores reach high of 52.1%; organic customer acquisition grew 13.4% annualized. 

CHARLOTTE, N.C. – Wachovia Corp. (NYSE:WB) today reported net income of $2.30 billion, or $1.20 per share, in the first quarter of 2007 compared with $1.73 billion, or $1.09 per share, in the first quarter of 2006.

After-tax net merger-related expenses did not affect earnings per share in the first quarter of 2007 and amounted to 3 cents per share in the first quarter of 2006. Excluding these expenses, earnings were $2.31 billion, or $1.20 per share, in the first quarter of 2007 and $1.77 billion, or $1.12 per share, in the first quarter of 2006. Results also included a lower effective tax rate of 30.99 percent compared with 35.06 percent in the first quarter of 2006.

"Once again our team delivered double-digit earnings growth," said Ken Thompson, Wachovia chairman and chief executive officer. "Our focus on cost control and risk management continues to provide flexibility in the face of the challenging interest rate environment. Most of all, our team’s dedication to serving our customers has a direct impact on our results as we provide industry-leading customer service and grow our base of loyal customers. In addition, we’re seeing very promising results as our cross-business partnerships serve customer needs and generate incremental revenues. The integration of Golden West is on track, and we’re pleased with the cross-sell potential of our expanded mortgage platform, as well as our initial success in cross-selling existing World Savings banking customers."

Results in the first quarter of 2007 included the full quarter impact of the purchase accounting acquisitions of Golden West on October 1, 2006, and Westcorp on March 1, 2006. Results in the first quarter of 2006 included one month of results related to Westcorp and a $100 million termination payment received in relation to the Bank of America/MBNA merger.
 

and Washington, D.C. Wachovia will gain mortgage lending operations under the World Savings Bank name in 39 states.