John Medlin: Timeline

1879: Wachovia founded in Winston-Salem

1893: Wachovia Loan and Trust Company becomes the state's first chartered trust company

July 1929: Robert Hanes, Wachovia`s chairman, commits to paper "The Wachovia spirit,"` defining the bank’s distinct corporate culture.

Dec 23, 1932: Medlin’s parents, John Grimes Medlin and Mabel Stephenson, marry. Medlin Sr. was born in Raleigh, Stephenson in Johnston County.

Nov 23, 1933: John Grimes Medlin Jr is born in Johnston County, NC

Spring 1952: John Medlin graduates from Four Oaks High School

Fall 1952: Medlin enters UNC Chapel Hill to study on Navy ROTC scholarship

1956: John Watlington elected president and chief executive officer of Wachovia

1956: Graduates from UNC-Chapel Hill, with B.S. in Business Administration

1956-1959: John Medlin serves in Navy.

August 4, 1957: John Medlin marries Pauline Sims

Early 1959: The Medlins’ first daughter, Elizabeth Warfield Medlin, is born. Still serving in the Navy, Medlin is at sea at the time of the birth.

June 7, 1959: John Medlin enters the management training program at Wachovia Bank and Trust Company.

1960 to 1965: Medlin works as Wachovia credit analyst.

1961: The Medlin’s second daughter, Ridgely Medlin, is born

1965: Medlin attends the Executive Program at the University of Virginia.

1965: Medlin becomes a loan officer for Wachovia

1968: Medlin is appointed head of Winston-Salem bank office.

1970: Medln is named Executive Vice President of Wachovia.

First quarter, 1972: NCNB’s assets reported as being ahead of Wachovia’s

1974: Medlin is named president and chief operating officer of Wachovia

1974: During national banking crisis, Medlin hires Lou Gerstner, consultant, to advise on Wachovia strategy. Following Gerstner’s advice, Medlin tells bank to “sell everything but the bank.”

Mid 1970s: Wachovia introduces Personal Banker Program.

Dec. 31, 1976: John Watlington retires as Wachovia CEO, though he continues to serve as a director until 1982.

January 1977: John Medlin becomes Wachovia’s CEO.

1984: Southeast Banking Compact forms. North and South Carolinas, Florida, and Georgia join. There is a one-year waiting period until it gains regulator and court approval; but it means that they can acquire banks from one another.

June 1985: Supreme Court upholds regional interstate banking legislation passed earlier that year by Congress. Medlin: "After that ruling, all of us felt like a kid in a candy store.... You try to get as much as you can eat."

June 1985: Wachovia overtakes a competing offer from NCNB to combine with First Atlanta.

December 1985: First Atlanta & Wachovia corporations become First Wachovia Corp.

April 1987: Thomas Williams leaves post as chairman of Wachovia. John Medlin succeeds him.

First half of 1991: With $25 billion in assets, Wachovia is the country’s 29th-biggest bank - 40 percent as big as NCNB and 60 percent as big as First Union Corp. But its stock is worth $4 billion on Wall Street, well ahead of First Union and nearly equal with NCNB.

May 1991: First Wachovia reorganizes and is renamed Wachovia Corp. The First National Bank of Atlanta became Wachovia Bank of Georgia; Wachovia Bank and Trust Company became Wachovia Bank of North Carolina; and the parent company, First Wachovia Corporation, was renamed Wachovia Corporation.

June 1991: Wachovia agrees to pay $800 million for South Carolina National Corp., Columbia, the state’s biggest bank. The deal will make Wachovia the nation’s 17th biggest.

October 1991: Medlin is one of several industry leaders summoned by President GHW Bush to air views regarding an economy that is not rebounding fast enough.

December 1993: Medlin retires from Wachovia after 17 years as CEO. He is succeeded by L.M. “Bud” Baker.

Early 1994: Wachovia is listed by Financial World magazine as the most financially stable of the nation's largest bank companies, holding assets greater than $30 billion.

1994-1998: Serves as non-executive Chairman of the Board at Wachovia.

1994-1996: Medlin chairs Commission on the Future & Courts of North Carolina—created by the State Judicial Council—which conducted a two-year study and offered recommendations on the state’s court system.

1995: Medlin inducted into NC Business Hall of Fame.

1997: Wachovia acquires Virginia-based Jefferson Bankshares Inc. for $542 million and Central Fidelity Banks Inc. for $2.3

1998: Medlin receives Distinguished Citizens Award from NC Citizens for Business and Industry.

1998: Medlin is named Chairman Emeritus of Wachovia Corporation, a bank holding company.

April 2000: Medlin retires from Wachovia’s board

April 2000: Wachovia buys National Bank of Commerce, a small bank in Florida.

September 2001: First Union and Wachovia merge, forming the new Wachovia Corporation.

2002: John Medlin receives American Banker Magazine’s Lifetime Achievement Award.

February 2003: Bud Baker retires abruptly from Wachovia.

2007-2008: Housing Bubble, which had peaked in 2006, collapses.

March 2008: Bear Stearns Collapse - The investment bank is sold to JP Morgan Chase with assistance from the Federal Reserve.

July 2008: Housing and Economic Recovery Act - Provides guarantees on new mortgages to subprime borrowers and authorizes a new federal agency, the FHFA, which eventually places Fannie Mae and Freddie Mac into conservatorship.

September 2008: Lehman Brothers Collapse - Investment bank files for Chapter 11 bankruptcy.

October 2008: Emergency Economic Stabilization Act - Bill authorizes the Treasury to establish the Troubled Asset Relief Program to purchase distressed mortgage-backed securities and inject capital into the nation’s banking system.

January 2009: Well Fargo completes merger and acquisition of Wachovia, effective December 31, 2008.

February 2009: American Recovery and Reinvestment Act of 2009 becomes law. The purpose of the $787 billion Recovery package is to jump-start the economy to create and save jobs.

June 7, 2012: John Medlin dies of a heart attack in North Carolina