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Wachovia Plans More Branches in South Florida

WEST PALM BEACH, FL-Despite announced plans to trim expenses by cutting 1,800 jobs system-wide, Wachovia Bank won't be retrenching in South Florida. This market is so lucrative, the Winston-Salem, NC-based bank wants to open more branches here.

By Harold Kelman | Updated on September 12, 2000

WEST PALM BEACH, FL-The $70-billion Wachovia Bank hopes to reduce annual expenses by some $100 million through the elimination of 8% of its work force nationally, but few of those jobs are in South Florida where it operates 22 branches in Palm Beach and Broward counties.

The bank has disclosed it expects to open at least 10 more branches in the region within the next 12 months, including initial offices in Miami-Dade County.

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