John G. Medlin Jr., who presided over Wachovia Corp. during a 17-year period when its assets grew tenfold and it became a national banking institution, died June 7 after a heart attack while playing tennis at a country club near Linville, N.C. He was 78.
A spokeswoman for Wells Fargo, which bought Wachovia in 2008, confirmed the death.
During Mr. Medlin’s tenure as chief executive, from 1977 through 1993, Wachovia’s assets grew from $3.6 billion to $35.3 billion, the New York Times reported in 1993. He served as chairman until 1998.
“He was an old-fashioned banker who thought his responsibility was to the customers and keeping the bank safe and sound,” Paul Volcker, former chairman of the Federal Reserve, said.
In a 1999 oral history interview, Mr. Medlin said, “Shareholders don’t really care about how big you are. They care about what happens to their stock. Customers don’t care about how big you are. They care about the service that you give them.”
Mr. Medlin was an early backer of First Union’s successful acquisition of Wachovia in 2001. Seven years later, the collapse of the subprime-mortgage market produced a $24 billion loss at Wachovia for the the third quarter in 2008, leading to its sale to Wells Fargo, announced in October of that year.
John Grimes Medlin Jr. was born on a farm near Benson, N.C., and graduated from the University of North Carolina at Chapel Hill in 1956. After Navy service, he joined Wachovia in 1959.
Frank Cady, 96, a character actor who played Hooterville general-store proprietor Sam Drucker on the sitcoms “Green Acres” and “Petticoat Junction,” died June 8 at his home in Wilsonville, Ore., said his daughter, Catherine Turk. No specific cause was given.
Mr. Cady played Drucker for the entire run of “Green Acres” on CBS, from 1965 to 1971, when it was canceled. The show continued to air for years in syndication. He also portrayed Drucker on “Petticoat Junction” and “The Beverly Hillbillies,” programs that shared some secondary characters. He reprised the role for the 1990 TV movie “Return to Green Acres.” Mr. Cady had a recurring role as Doc Williams on “The Adventures of Ozzie and Harriet.”
He was born in Susanville, Calif., and studied drama at Stanford University. Reflecting on his TV career, he told the Portland Oregonian in 1995, “You get typecast. I’m remembered for those shows and not for some pretty good acting jobs I did other times. I suppose I ought to be grateful for that. Because otherwise I wouldn’t be remembered at all. I’ve got to be one of the luckiest guys in the world.”
— From news services