Bank Merger

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Hand Putting Deposit Into Piggy Bank
It is a deal worth more than $14.3 Billion dollars, the most ever in Alabama banking circles. No doubt the North Carolina-based Wachovia purchase of SouthTrust Bank is big news, especially here in Birmingham, the birthplace of and home to Alabama’s second largest bank. WBHM’s Steve Chiotakis asked Dr. Benton Gup, a professor of Finance and Chair of Banking at the University of Alabama, about the merits of the deal. Who loses? Who benefits? SouthTrust shareholders are about the only ones in this area feeling positive about the deal.