Word: wachovia
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Dates: during 1960-1969
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...economic resurgence has been financed largely by money from the North, but that situation is gradually changing. Among the strongest challenges to the North's dominance of Southern finance is an institution revered by Southerners but little known to most other Americans: North Carolina's Wachovia Bank & Trust. Situated in the South's most highly industrialized state, Wachovia (pronounced Wah-ko-via) is the biggest bank between Phila delphia and Dallas, serves 37 of the nation's 50 major corporations. Though still fairly small by Northern standards -it ranks 38th among all U.S. banks - Wachovia...
There is plenty of business ahead for Wachovia. Next to the Far West, the Southeast has the nation's fastest-growing economy, carried forward on a fresh wave of industry that is sweeping aside plantations and piney woods. Agriculture, long predominant, now accounts for only 10% of the region's income, and Southern industry last year provided 75,000 new jobs, 25% of all the new factory jobs in the U.S. Personal income in the Southeast has climbed 25% in the past four years, last year rose 7.7% v. 6% for the entire...