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CHARLOTTE, NC-There are now fewer major names in the banking world. San Francisco-based Wells Fargo has gobbled up locally based Wachovia Corp. for $12.86 billion, just a day after Bank of America absorbed Wall Street securities firm Merrill Lynch for $19.36 billion.

Meanwhile, Pittsburgh-based PNC Financial Services group acquired Cleveland-based rival National City Corp. for $3.91 billion. Bank of America, also based here, is now the largest US bank by assets, which number $2.7 trillion, according the Wall Street Journal. All three acquirers are expected to have layoffs, with Bank of America alone letting go of 35,000 over the next three years.

To read the full Journal article, click here.

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