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The move would seem to reverse a previous effort by the New York bank to explore selling its Texas retail banks. But Carey Marin, a Citi spokeswoman, called such published reports "rumors."
"We wouldn't call [the Wachovia purchase] a change in strategy," she said. "We saw this as a really great opportunity."
Citi agreed to acquire Wachovia's banking operations for $2.1 billion in stock, or $1 a share, in the latest government-organized deal to help save troubled banks.
Charlotte, N.C.-based Wachovia has 82 branches and about 2,400 employees in the Dallas-Fort Worth area. Its Dallas office oversees the company's operations in Texas, Kansas, Colorado and Illinois.
Citi has 27 branches in North Texas but employs about 11,000 in a variety of functions, including call centers and its operations and technology department.
Ms. Marin said Monday it was too soon to say whether any branches will be closed here or whether employees will be cut.
"We hope that we're able to keep everyone on," she said.
The Citi purchase follows J.P. Morgan Chase & Co.'s acquisition of Washington Mutual Inc. last week. That deal gave the New York bank more North Texas branches than any other bank.
Chase bought WaMu's assets after the Seattle-based thrift became the largest bank to fail in U.S. history.
The move gives Chase more than 260 branches in North Texas, including 103 from WaMu. About 850 employees work in WaMu's area branches. As a result of the deal, some branches may be closed.
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