First Union Corporation, a dominant Southern-based banking giant during the aggressive interstate banking consolidation era of the late 20th century, executed several massive corporate buyouts. Its most defining and monumental acquisition was its historic multi-billion-dollar buyout of CoreStates Financial Corp, a powerful banking institution based in Philadelphia. Following this aggressive expansion and subsequent acquisitions, First Union itself merged with Wachovia Corporation, temporarily adopting the Wachovia name before the combined entity was ultimately absorbed by Wells Fargo.