The chairman of First Union Corp. insisted Wednesday that his company was moving carefully in its expansion drive. His remarks came amid newspaper reports that First Union was considering big acquisitions in Maryland and Texas.

"Looking and doing are two different things - I want to emphasize that," Edward E. Crutchfield Jr. told an investor conference sponsored by Sanford C. Bernstein & Co.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.