Corestates

Corestates was a financial holding company that operated primarily in the northeastern United States. It was formed through a series of mergers and acquisitions involving several banks and financial institutions. The company's main subsidiary was CoreStates Bank, which had a significant presence in Pennsylvania, New Jersey, and Delaware. CoreStates Bank offered a wide range of retail and commercial banking services, including checking and savings accounts, loans, mortgages, and investment products.

The company's history traces back to the late 19th century with the establishment of the Philadelphia National Bank. Over the decades, through strategic mergers, it grew into a substantial regional financial entity. CoreStates was known for its extensive branch network and its role in supporting local economies.

In the late 1990s, the financial services industry saw a wave of consolidation. CoreStates became a target for acquisition. In 1998, it was acquired by First Union Corporation, another major financial institution at the time. This merger created one of the largest banking organizations in the country. Following the acquisition, the CoreStates name and its associated banking operations were eventually integrated into the First Union brand, and later, after another merger, into Wachovia. The CoreStates entity ceased to exist as an independent company.