Wachovia Corporation
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
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For the quarterly period ended March 31, 2007 |
OR
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission file number 1-10000
Wachovia Corporation
(Exact name of registrant as specified in its charter)
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North Carolina
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56-0898180 |
(State or other jurisdiction of
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(I.R.S. Employer |
incorporation or organization)
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Identification No.) |
Wachovia Corporation
One Wachovia Center
Charlotte, North Carolina 28288-0013
(Address of principal executive offices)
(Zip Code)
(704) 374-6565
(Registrants telephone number, including area code)
(Former name, former address and former fiscal year, if changed since last report)
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 (or for
such shorter period that the Registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes þ No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer,
or a non-accelerated filer. See definition of accelerated filer and large accelerated filer in
Rule 12b-2 of the Exchange Act.
Large accelerated filerþ Accelerated filero Non-accelerated filero
Indicate by check mark whether the registrant is a shell company (defined in Rule 12b-2 of the
Exchange Act). Yes o No þ
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all documents and reports required to
be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the
distribution of securities under a plan confirmed by a court. Yes
o No o
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the issuers classes of common stock, as
of the latest practicable date.
1,913,353,379 shares of Common Stock, par value $3.33 1/3 per share, were outstanding as of March
31, 2007.
PART I FINANCIAL INFORMATION
Forward-Looking Statements
Wachovia Corporation (formerly named First Union Corporation, Wachovia) may from time to time
make written or oral forward-looking statements, including statements contained in Wachovias
filings with the Securities and Exchange Commission (including this Quarterly Report on Form 10-Q
and the Exhibits hereto), in its reports to stockholders and in other Wachovia communications.
These statements relate to future, not past, events.
These forward-looking statements include, among others, statements with respect to Wachovias
beliefs, plans, objectives, goals, guidelines, expectations, financial condition, results of
operations, future performance and business, including without limitation, (i) statements relating
to the benefits of the merger (including divestitures related thereto) between Wachovia and Golden
West Financial Corporation (the Golden West Merger) completed on October 1, 2006, including
future financial and operating results, cost savings, enhanced revenues and the accretion or
dilution to reported earnings that may be realized from the Golden West Merger, (ii) statements
relating to the benefits of the merger among Wachovia, Westcorp and WFS Financial Inc (the
Westcorp Merger and together with the Golden West Merger, the Mergers), completed on March 1,
2006, including future financial and operating results, cost savings, enhanced revenues and the
accretion or dilution to reported earnings that may be realized from the Westcorp Merger, (iii)
statements regarding Wachovias goals and expectations with respect to earnings, earnings per
share, revenue, expenses and the growth rate in such items, as well as other measures of economic
performance, including statements relating to estimates of credit quality trends, and (iv)
statements preceded by, followed by or that include the words may, could, should, would,
believe, anticipate, estimate, expect, intend, plan, projects, outlook or similar
expressions. These forward-looking statements are based upon the current beliefs and expectations
of Wachovias management and are subject to significant risks and uncertainties that are subject to
change based on various factors (many of which are beyond Wachovias control). Actual results may
differ from those set forth in the forward-looking statements.
The following factors, among others, could cause Wachovias financial performance to differ
materially from that expressed in any forward-looking statements: (1) the risk that the businesses
of Wachovia and Golden West in connection with the Golden West Merger or the businesses of
Wachovia, Westcorp and WFS Financial Inc in connection with the Westcorp Merger will not be
integrated successfully or such integration may be more difficult, time-consuming or costly than
expected; (2) expected revenue synergies and cost savings from the Mergers may not be fully
realized or realized within the expected time frame; (3) revenues following the Mergers may be
lower than expected; (4) deposit attrition, operating costs, customer loss and business disruption
following the Mergers, including, without limitation, difficulties in maintaining relationships
with employees, may be greater than expected; (5) the strength of the United States economy in
general and the strength of the local economies in which Wachovia conducts operations may be
different than expected, resulting in, among other things, a deterioration in credit quality or a
reduced demand for credit, including the resultant effect on Wachovias loan portfolio and
allowance for loan losses; (6) the effects of, and changes in, trade, monetary and fiscal policies
and laws, including interest rate policies of the Board of Governors of the Federal Reserve System;
(7) inflation, interest rate, market and monetary fluctuations; (8) adverse conditions in the stock
market, the public debt market and other capital markets (including changes in interest rate
conditions) and the impact of such conditions on Wachovias capital markets and capital management
activities, including, without limitation, Wachovias mergers and acquisition advisory business,
equity and debt underwriting activities, private equity investment activities, derivative
securities activities, investment and wealth management advisory businesses, and brokerage
activities; (9) the timely development of competitive new products and services by Wachovia and the
acceptance of these products and services by new and existing customers; (10) the willingness of
customers to accept third party products marketed by Wachovia; (11) the willingness of customers to
substitute competitors products and services for Wachovias products and services and vice versa;
(12) the impact of changes in financial services laws and regulations (including laws concerning
taxes, banking, securities and insurance); (13) technological changes; (14) changes in consumer
spending and saving habits; (15) the effect of corporate restructurings, acquisitions and/or
dispositions we may undertake from time to time, and the actual restructuring and other expenses
related thereto, and the failure to achieve the expected revenue growth and/or expense savings from
such corporate restructurings, acquisitions and/or dispositions; (16) the growth and profitability
of Wachovias noninterest or fee income being less than expected; (17) unanticipated regulatory or
judicial proceedings or rulings; (18) the impact of changes in accounting principles; (19) adverse
changes in financial performance and/or condition of Wachovias borrowers which could impact
repayment of such borrowers outstanding loans; (20) the impact on Wachovias businesses, as well
as on the risks set forth above, of various domestic or international military or terrorist activities or
conflicts; and (21) Wachovias success at managing the risks involved in the foregoing.
Wachovia cautions that the foregoing list of important factors is not exclusive. Wachovia does not
undertake to update any forward-looking statement, whether written or oral, that may be made from
time to time by or on behalf of Wachovia.
Item 1. Financial Statements.
The Consolidated Balance Sheets of Wachovia and subsidiaries at March 31, 2007, and December
31, 2006, respectively, set forth on page 55 of Wachovias First Quarter 2007 Financial Supplement
for the three months ended March 31, 2007 (the Financial Supplement), are incorporated herein by
reference.
The Consolidated Statements of Income of Wachovia and subsidiaries for the three months ended
March 31, 2007 and 2006, set forth on page 56 of the Financial Supplement, are incorporated herein
by reference.
The Consolidated Statements of Cash Flows of Wachovia and subsidiaries for the three months
ended March 31, 2007 and 2006, set forth on page 57 of the Financial Supplement, are incorporated
herein by reference.
Notes to Consolidated Financial Statements, set forth on pages 58 through 76 of the Financial
Supplement, are incorporated herein by reference.
A copy of the Financial Supplement is being filed as Exhibit (19) to this Report.
Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations.
Managements Discussion and Analysis of Financial Condition and Results of Operations appears
on pages 2 through 24 of the Financial Supplement and is incorporated herein by reference.
A copy of the Financial Supplement is being filed as Exhibit (19) to this Report.
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
Quantitative and Qualitative Disclosures About Market Risk appears on pages 20 through 22,
pages 60 and 61, and pages 71 through 75 of the Financial Supplement and is incorporated herein by
reference.
A copy of the Financial Supplement is being filed as Exhibit (19) to this Report.
Item 4. Controls and Procedures.
Evaluation of Disclosure Controls and Procedures. As of March 31, 2007, the end of the period
covered by this Quarterly Report on Form 10-Q, Wachovias management, including Wachovias Chief
Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure
controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934).
Based upon that evaluation, Wachovias Chief Executive Officer and Chief Financial Officer each
concluded that as of March 31, 2007, the end of the period covered by this Quarterly Report on Form
10-Q, Wachovia maintained effective disclosure controls and procedures.
Changes in Internal Control Over Financial Reporting. No change in our internal control over
financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934)
occurred during the fiscal quarter ended March 31, 2007, that has materially affected, or is
reasonably likely to materially affect, Wachovias internal control over financial reporting.
Part II. OTHER INFORMATION
Item 1. Legal Proceedings.
Wachovia and certain of our subsidiaries are involved in a number of judicial, regulatory and
arbitration proceedings concerning matters arising from the conduct of our business activities.
These proceedings include actions brought against Wachovia and/or its subsidiaries with respect to
transactions in which Wachovia and/or our subsidiaries acted as banker, lender, underwriter,
financial advisor or broker or in activities related thereto. In addition, Wachovia and its
subsidiaries may be requested to provide information or otherwise cooperate with governmental
authorities in the conduct of investigations of other persons or industry groups. It is Wachovias
policy to cooperate in all regulatory inquiries and investigations.
Although there can be no assurance as to the ultimate outcome, Wachovia and/or our
subsidiaries have generally denied, or believe we have a meritorious defense and will deny,
liability in all significant litigation pending against us, including the matters described below,
and we intend to defend vigorously each such case. Reserves are established for legal claims when
payments associated with the claims become probable and the costs can be reasonably estimated. The
actual costs of resolving legal claims may be substantially higher or lower than the amounts
reserved for those claims.
The following supplements certain matters previously reported in Wachovias Annual Report on
Form 10-K for the year ended December 31, 2006.
Interchange Litigation. Wachovia Bank, N.A. and Wachovia are named as defendants in seven
putative class actions filed on behalf of a plaintiff class of merchants with regard to the
interchange fees associated with Visa and Mastercard payment card transactions. These actions have
been consolidated with more than 40 other actions, which did not name Wachovia as a defendant, in
the United Stated District Court for the Eastern District of New York. Visa, Mastercard and several
banks and bank holding companies are named as defendants in various of these actions which were
consolidated before the Court pursuant to orders of the Judicial Panel on Multidistrict Litigation.
The amended and consolidated complaint asserts claims against defendants based on alleged
violations of federal and state antitrust laws and seeks damages, as well as injunctive relief.
Plaintiff merchants allege that Visa, Mastercard and their member banks unlawfully collude to set
interchange fees. Plaintiffs also allege that enforcement of certain Visa and MasterCard rules and
alleged tying and bundling of services offered to merchants are anticompetitive. The payment card
association defendants and banking defendants are aggressively defending the consolidated action.
Le-Natures, Inc. Wachovia Bank, N.A. is the administrative agent on a $285 million credit
facility extended to Le-Natures, Inc. in September 2006, of which approximately $262 million was
syndicated to other lenders by Wachovia Capital Markets, LLC as Lead Arranger and Sole Bookrunner.
Le-Natures filed a Chapter 11 bankruptcy petition in October 2006 in U.S. Bankruptcy Court in
Pittsburgh, Pennsylvania following a report by a court-appointed custodian in a proceeding in
Delaware that revealed fraud and significant accounting irregularities on the part of Le-Natures
management, including maintenance of a dual set of financial records. On March 14, 2007, Wachovia
filed an action against several hedge funds in Superior Court for the State of North Carolina
entitled Wachovia Bank, National Association and Wachovia Capital Markets LLC v. Harbinger Capital
Partners Master Fund I, Ltd. et al., alleging that the hedge fund defendants had acquired a
significant quantity of the outstanding debt with full knowledge of
the Le-Natures fraud and with
the intention of pursuing alleged fraud and other tort claims against Wachovia purportedly related
to its role in the Le-Natures credit facility. The assertion of such claims would constitute a
violation of North Carolinas legal and public policy prohibitions on champerty and maintenance. A
preliminary injunction has been entered by the Court that, among other things, prohibits defendants
from asserting any such claims in any other forum, but allowing these defendants to bring any
claims they believe they possess against Wachovia as compulsory counterclaims in the North Carolina
action. Wachovia, which itself was victimized by the Le-Natures fraud, will pursue its rights
against Le-Natures and in this litigation vigorously.
Outlook. Based on information currently available, advice of counsel, available insurance
coverage and established reserves, Wachovia believes that the eventual outcome of the actions
against Wachovia and/or its subsidiaries, including the matters described above, will not,
individually or in the aggregate, have a material adverse effect on Wachovias consolidated
financial position or results of operations. However, in the event of
unexpected future developments, it is possible that the ultimate resolution of those matters, if unfavorable, may be
material to Wachovias results of operations for any particular period.
Item 1A. Risk Factors.
Not Applicable.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers.
In January 2004, our board of directors authorized the repurchase of 60 million shares of our
common stock, which together with remaining authority from previous board authorizations in 1999
and 2000, permitted Wachovia to repurchase up to 123 million shares of our common stock as of
January 15, 2004, the date that authorization was announced. In addition, on August 16, 2005,
Wachovia announced that our board of directors authorized the repurchase of an additional 100
million shares of our common stock. Future stock repurchases may be private or open-market
purchases, including block transactions, accelerated or delayed block transactions, forward
transactions, collar transactions, and similar transactions. The amount and timing of stock
repurchases will be based on various factors, such as managements assessment of Wachovias capital
structure and liquidity, the market price of Wachovia common stock compared to managements
assessment of the stocks underlying value, and applicable regulatory, legal and accounting
factors. In 2006, Wachovia repurchased 82 million shares of Wachovia common stock, all but 3.3
million of such repurchases were in the open market, at an average cost of $54.96 per share.
Please see Stockholders Equity in the Financial Supplement, filed as Exhibit (19) to this
Report, for additional information about Wachovias share repurchases in the first quarter of 2007.
The following table sets forth information about our stock repurchases for the three months ended
March 31, 2007.
Issuer Repurchases of Equity Securities
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Maximum Number |
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Total Number of |
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(or Approximate |
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Shares Purchased |
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Dollar Value) of |
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as Part of |
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Shares that May |
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Publicly |
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Yet Be Purchased |
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Total Number of |
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Average |
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Announced |
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Under the |
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Shares Purchased |
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Price Paid |
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Plans or |
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Plans or |
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Period (1) |
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(2) |
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per Share |
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Programs (3) |
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Programs (3) |
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January 1, 2007 to
January 31, 2007 |
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850,000 |
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$ |
56.43 |
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850,000 |
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40,663,415 |
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February 1, 2007 to
February 28, 2007 |
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3,150,000 |
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57.22 |
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3,150,000 |
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37,513,415 |
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March 1, 2007 to
March 31, 2007 |
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1,000,000 |
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55.40 |
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1,000,000 |
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36,513,415 |
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Total |
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5,000,000 |
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$ |
56.72 |
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5,000,000 |
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36,513,415 |
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(1) |
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Based on trade date, not settlement date. |
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(2) |
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All of these shares were repurchased pursuant to publicly announced share repurchase programs.
The nature of these repurchases were as follows: January 2007 open market repurchases: 850,000
shares; February 2007 open market repurchases: 3.15 million shares; and March 2007 open
market repurchases: 1.0 million shares. |
In addition to these repurchases, pursuant to Wachovias employee stock option plans, participants
may exercise Wachovia stock options by surrendering shares of Wachovia common stock the
participants already own as payment of the option exercise price. Shares so surrendered by
participants in Wachovias employee stock option plans are repurchased pursuant to the terms of the
applicable stock option plan and not pursuant to publicly announced share repurchase programs. For
the quarter ended March 31, 2007, the following shares of Wachovia common stock were surrendered by
participants in Wachovias employee stock option plans: January 2007 72,318 shares at an
average price per share of $56.84; February 2007 32,475 shares at an average price per share of
$57.64;
and March 2007 18,586 shares at an average price per share of $55.80.
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On May 25, 1999, Wachovia announced a stock repurchase program pursuant to which Wachovia was
authorized to repurchase up to 50 million shares of its common stock. On June 26, 2000, Wachovia
announced a stock repurchase program pursuant to which Wachovia was authorized to repurchase up to
50 million shares of its common stock. On January 15, 2004, Wachovia announced a stock repurchase
program pursuant to which Wachovia was authorized to repurchase up to 60 million shares of its
common stock. On August 16, 2005, Wachovia announced a stock repurchase program pursuant to which
Wachovia was authorized to repurchase up to 100 million shares of its common stock. None of these
programs has an expiration date and each respective program expires upon completion of repurchases
totaling the amount authorized for repurchase. During the second quarter of 2004, all remaining
shares authorized under the May 1999 authorization, which totaled approximately 5.2 million shares
at the beginning of the quarter, were repurchased. During the first quarter of 2005, all remaining
shares authorized under the June 2000 authorization, which totaled approximately 15.7 million
shares at the beginning of the quarter, were repurchased. During the first quarter of 2006, all
remaining shares authorized under the January 2004 authorization, which totaled approximately 23.6
million shares at the beginning of the quarter, were repurchased. As of March 31, 2007, there are
no more shares remaining under the May 1999, June 2000 and January 2004 authorizations, and
approximately 36.5 million shares remaining under the August 2005 authorization. |
Item 3. Defaults Upon Senior Securities.
Not applicable.
Item 4. Submission of Matters to a Vote of Security Holders.
At the Annual Meeting of Stockholders of Wachovia held on April 17, 2007, the following
proposals were submitted to a vote of the holders of Wachovias common stock voting as indicated:
1. Approval of a proposal to elect the following individuals as directors of Wachovia:
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FOR |
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WITHHELD |
Class III directors: |
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John T. Casteen, III
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1,572,172,239 |
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87,456,648 |
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Maryellen C. Herringer
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1,580,835,949 |
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78,792,938 |
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Joseph Neubauer
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1,521,928,052 |
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137,700,836 |
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Timothy D. Proctor
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1,571,134,398 |
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88,494,489 |
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Van L. Richey
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1,583,047,881 |
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76,581,006 |
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Dona Davis Young
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1,582,316,659 |
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77,312,229 |
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Class I director: |
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Ernest S. Rady
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1,573,445,108 |
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86,183,780 |
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Class II director: |
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Jerry Gitt
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1,581,020,685 |
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78,608,203 |
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2. Approval of a proposal to amend Wachovias articles of incorporation to eliminate the provisions
classifying the terms of the board of directors:
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FOR |
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AGAINST |
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ABSTAIN |
1,613,925,507
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29,283,175 |
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16,420,206 |
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3. Approval of a proposal to amend Wachovias articles of incorporation to provide for majority
voting in uncontested director elections:
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FOR |
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AGAINST |
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ABSTAIN |
1,618,384,625
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25,350,187 |
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15,894,076 |
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4. Approval of a proposal to ratify the appointment of KPMG LLP as Wachovias auditors for 2007:
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FOR |
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AGAINST |
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ABSTAIN |
1,623,452,557
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23,069,879 |
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13,106,452 |
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5. Disapproval of a stockholder proposal regarding non-binding stockholder vote ratifying executive
compensation:
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FOR |
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AGAINST |
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ABSTAIN |
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BROKER NON-VOTES |
494,359,888
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783,659,990 |
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77,333,189 |
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304,275,821 |
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6. Disapproval of a stockholder proposal regarding qualifications of director nominees:
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FOR |
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AGAINST |
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ABSTAIN |
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BROKER NON-VOTES |
60,805,645
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1,266,290,732 |
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28,256,690 |
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304,275,821 |
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7. Disapproval of a stockholder proposal regarding reporting political contributions:
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FOR |
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AGAINST |
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ABSTAIN |
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BROKER NON-VOTES |
147,963,867
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1,038,286,676 |
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169,102,524 |
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304,275,821 |
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8. Disapproval of a stockholder proposal regarding separating the offices of Chairman and Chief
Executive Officer:
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FOR |
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AGAINST |
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ABSTAIN |
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BROKER NON-VOTES |
212,160,445
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1,093,054,464 |
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50,138,158 |
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304,275,821 |
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Item 5. Other Information.
Not applicable.
Item 6.
Exhibits.
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Exhibit No. |
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Description |
(3)(a)
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Restated Articles of Incorporation of Wachovia. (Incorporated by reference to
Exhibit (3)(a) to Wachovias 2001 Third Quarter Report on Form 10-Q.) |
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(3)(b)
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Articles of Amendment to Articles of Incorporation of Wachovia. (Incorporated by
reference to Exhibit (3)(b) to Wachovias 2002 Annual Report on Form 10-K.) |
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(3)(c)
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Articles of Amendment to Articles of Incorporation of Wachovia. (Incorporated by
reference to Exhibit (3)(c) to Wachovias 2002 Annual Report on Form 10-K.) |
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(3)(d)
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Articles of Amendment to Articles of Incorporation of Wachovia. (Incorporated by
reference to Exhibit 4.1 to Wachovias Current Report on Form 8-K dated February 1, 2006.) |
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(3)(e)
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Articles of Amendment to Articles
of Incorporation of Wachovia. (Incorporated by reference
to Exhibit (3)(a) to Wachovias Current Report on Form 8-K dated April 18, 2007.) |
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(3)(f)
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Wachovias Amended and Restated Bylaws. (Incorporated by reference to Exhibit (3)(b) to
Wachovias Current Report on Form 8-K dated April 18, 2007.) |
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(4)
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Instruments defining the rights of security holders, including indentures.* |
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(12)(a)
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Computations of Consolidated Ratios of Earnings to Fixed Charges. |
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(12)(b)
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Computations of Consolidated Ratios of Earnings to Fixed Charges and Preferred Stock
Dividends. |
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(19)
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Wachovias First Quarter 2007 Financial Supplement. |
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(31)(a)
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Certification of principal executive officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002. |
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(31)(b)
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Certification of principal financial officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002. |
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(32)(a)
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Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002. |
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(32)(b)
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Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002. |
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* |
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Wachovia agrees to furnish to the Commission upon request, copies of the instruments, including
indentures, defining the rights of the holders of the long-term debt of Wachovia and its
consolidated subsidiaries. |
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 hereunto duly authorized.
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Wachovia Corporation |
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Date: May 4, 2007 |
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By:
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/s/ Peter M. Carlson |
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Peter M. Carlson
Senior Vice President and Corporate Controller
(Principal Accounting Officer) |
EXHIBIT INDEX
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Exhibit No. |
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Description |
(3)(a)
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Restated Articles of Incorporation of Wachovia. (Incorporated by reference to
Exhibit (3)(a) to Wachovias 2001 Third Quarter Report on Form 10-Q.) |
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(3)(b)
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Articles of Amendment to Articles of Incorporation of Wachovia. (Incorporated by
reference to Exhibit (3)(b) to Wachovias 2002 Annual Report on Form 10-K.) |
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(3)(c)
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Articles of Amendment to Articles of Incorporation of Wachovia. (Incorporated by
reference to Exhibit (3)(c) to Wachovias 2002 Annual Report on Form 10-K.) |
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(3)(d)
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Articles of Amendment to Articles of Incorporation of Wachovia. (Incorporated by
reference to Exhibit 4.1 to Wachovias Current Report on Form 8-K dated February 1, 2006.) |
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(3)(e)
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Articles of Amendment to Articles
of Incorporation of Wachovia. (Incorporated by reference
to Exhibit (3)(a) to Wachovias Current Report on Form 8-K dated April 18, 2007.) |
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(3)(f)
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Wachovias Amended and Restated Bylaws. (Incorporated by reference to Exhibit (3)(b) to
Wachovias Current Report on Form 8-K dated April 18, 2007.) |
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(4)
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Instruments defining the rights of security holders, including indentures.* |
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(12)(a)
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Computations of Consolidated Ratios of Earnings to Fixed Charges. |
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(12)(b)
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Computations of Consolidated
Ratios of Earnings to Fixed Charges and Preferred Stock Dividends. |
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(19)
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Wachovias First Quarter 2007 Financial Supplement. |
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(31)(a)
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Certification of principal executive officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002. |
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(31)(b)
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Certification of principal financial officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002. |
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(32)(a)
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Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002. |
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(32)(b)
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Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002. |
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* |
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Wachovia agrees to furnish to the Commission upon request, copies of the instruments, including
indentures, defining the rights of the holders of the long-term debt of Wachovia and its
consolidated subsidiaries. |