Wachovia was founded on June 1, 1908, as a merger of five North Carolina banks known collectively as the "North Carolina Banking Company." The new institution took its name from the Native American tribe called the Wachovies who once inhabited the region around what is now Winston-Salem, North Carolina. Initially headquartered in Charlotte, Wachovia grew through acquisitions and expansion to become one of the largest banking institutions in the United States by the early 2000s. In 2008, Wachovia was acquired by Wells Fargo & Company, following a period of financial instability during the subprime mortgage crisis.
"Wachovia was quite popular as a baby boy's name in 1991 with seven babies sharing the name that year."