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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Quarterly Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
For the Quarterly Period Ended September 30, 1994 Commission File Number 1-9021
WACHOVIA CORPORATION
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(Exact name of registrant as specified in its charter)
North Carolina 56-1473727
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
301 North Main Street, Winston-Salem, North Carolina 27150
191 Peachtree Street, N.E., Atlanta, Georgia 30303
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code
(910) 770-5000, (404) 332-5000
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Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months and (2) has been subject to such filing
requirements for the past 90 days.
Yes x No
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Indicated below is the number of shares outstanding of each of the issuer's
classes of common stock as of October 31, 1994
Common Stock, $5.00 par value, 170,828,306 shares
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QUARTERLY REPORT ON FORM 10-Q
WACHOVIA CORPORATION
September 30, 1994
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
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Wachovia Corporation ("Wachovia"), a North Carolina corporation, is a bank
holding company registered under the Bank Holding Company Act of 1956, as
amended, and a savings and loan holding company within the meaning of the Home
Owners Loan Act of 1933, as amended by the Financial Institutions Reform,
Recovery and Enforcement Act of 1989. Its member companies provide a wide
range of banking and bank-related services to customers throughout the United
States and abroad.
Wachovia's principal subsidiaries, Wachovia Bank of North Carolina, N.A.,
Wachovia Bank of Georgia, N.A., and Wachovia Bank of South Carolina, N.A.
provide personal, commerical, trust and institutional banking services
through 491 full-service banking offices located in North Carolina, South
Carolina and Georgia. In addition, The First National Bank of Atlanta, another
subsidiary of Wachovia Corporation, provides credit card services for
Wachovia's affiliated banks. National and international banking services are
provided through Wachovia's three Cayman Island branches, an Edge Act
subsidiary located in New York, and various offices located throughout the
Southeast, the nation and the world.
The following consolidated financial statements of Wachovia Corporation and
subsidiaries are included on pages 22 through 25 of the quarterly Report to
Shareholders of the Registrant (attached hereto as Exhibit 19) and are
incorporated herein by reference:
Consolidated Statement of Condition
Consolidated Statement of Income
Consolidated Statement of Shareholders' Equity
Consolidated Statement of Cash Flows
The accompanying unaudited consolidated financial statements in Exhibit 19 do
not include all information and footnotes required under generally accepted
accounting principles. However, in the opinion of management, the profit and
loss information presented in the interim financial statements reflects all
adjustments necessary to present fairly the results of operations for the
periods presented. Adjustments reflected in the third quarter 1994 figures are
of a normal, recurring nature. The results of operations shown in the interim
statements are not necessarily indicative of the results that may be expected
for the entire year.
Item 2. Management's Discussion and Analysis of Financial Condition and
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Results of Operations
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Management's discussion and analysis included on pages 4 - 21 of the quarterly
Report to Shareholders of the Registrant (attached hereto as Exhibit 19) is
incorporated herein by reference.
PART II - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K
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(a) Exhibits
11 Computation of Earnings Per Common Share
19 Wachovia Corporation Report to Shareholders for the
period ending September 30, 1994
27 Financial Data Schedule (for SEC purposes only)
(b) Reports on Form 8-K
No reports on Form 8-K were filed during the three months ended September 30,
1994.
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QUARTERLY REPORT ON FORM 10-Q
WACHOVIA CORPORATION
September 30, 1994
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
WACHOVIA CORPORATION
November 11, 1994 By: ROBERT S. McCOY, JR.
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Robert S. McCoy, Jr.
Executive Vice President
and Chief Financial Officer
(Principal Financial Officer)
November 11, 1994 By: JOHN C. McLEAN, JR.
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John C. McLean, Jr.
Comptroller
(Principal Accounting Officer)