Wachovia Cites Thrift Buy in 2Q Results

Wachovia Corp., Charlotte, N.C., has reported record earnings of $2.34 billion ($1.22 per share), up from $1.88 billion ($1.17 per share) a year earlier, attributing a 53% increase in average loans to consumer real estate loans linked to its acquisition of Golden West Financial Corp. last October.The integration of the Oakland, Calif.-based thrift into Wachovia "is proceeding as planned," said Ken Thompson, Wachovia's chairman and chief executive officer, citing "the cross-sell potential of our expanded platform." The company can be found online at http://www.wachovia.com.

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