Shareholders are on Tuesday expected to vote in favour of two bank deals forged at the height of the financial crisis, helping to mark the end of a transformative year for the US banking industry.

The fire sales of Wachovia and National City took place under regulatory pressure to stabilise the banks’ deposit bases after heavy mortgage-related losses led to concerns over capital. For the buyers – Wells Fargo and PNC Financial respectively – the deals are strategic victories, emblematic of how stronger players have used the crisis to expand.