ca.portal.admin

Bank of America History

Discussion created by ca.portal.admin on Jan 24, 2006
Latest reply on Jan 24, 2006 by ca.portal.admin
**** All:

Since Bank of America is headquartered in my home town of Charlotte, NC Here
is their corporate History. I think Lutz may of worked for BankAmerica that
was headquartered in San Francisco and not the new Bank of America in
Charlotte, North Carolina?


Corporate History
Commercial National  Bank
(http://en.wikipedia.org/wiki/Commercial_National_Bank) (CNB), the earliest forerunner of NationsBank, was formed in 1874.
In 1957, Commercial National merged with its longtime rival in Charlotte,
American Trust Co. (http://en.wikipedia.org/wiki/American_Trust_Co.) , forming
American Commercial  Bank
(http://en.wikipedia.org/wiki/American_Commercial_Bank) . American Commercial changed its name to _North Carolina  National
Bank_ (http://en.wikipedia.org/wiki/North_Carolina_National_Bank) (NCNB) in 1960
after acquiring of Greensboro
(http://en.wikipedia.org/wiki/Greensboro,_North_Carolina) -based Security  National Bank
(http://en.wikipedia.org/w/index.php?title=Security_National_Bank&action=edit) . In the early 70s, it
reorganized as the leading subsidiary of NCNB Corporation.
NCNB expanded beyond North Carolina for the first time in 1982, when it
purchased Lake City, Florida-based First  National Bank of Lake City
(http://en.wikipedia.org/w/index.php?title=First_National_Bank_of_Lake_City&action=edit)
, its first interstate expansion. Hugh  McColl
(http://en.wikipedia.org/wiki/Hugh_McColl) became CEO of NCNB the following year.
In 1988, NCNB's assets grew to $60 billion after it bought the failed _First
Republic Bank_
(http://en.wikipedia.org/w/index.php?title=First_Republic_Bank&action=edit) of Dallas (http://en.wikipedia.org/wiki/Dallas,_Texas) ,
Texas (http://en.wikipedia.org/wiki/Texas) from the FDIC
(http://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corporation) .
NCNB became NationsBank in 1991 after acquiring Atlanta
(http://en.wikipedia.org/wiki/Atlanta) -based C&S/Sovran  Corp.
(http://en.wikipedia.org/w/index.php?title=C&S/Sovran_Corp.&action=edit) Following the merger, the Bank's
assets grew to $118 billion.
In 1996, NationsBank acquired St. Louis
(http://en.wikipedia.org/wiki/St._Louis) -based Boatmen's  Bancshares
(http://en.wikipedia.org/w/index.php?title=Boatmen's_Bancshares&action=edit) for $9.6 billion. The combined bank
became the largest in the American south, with assets of $225 billion, and 2,600
branches stretching from North Carolina to New Mexico.
The following year, NationsBank acquired Florida's largest bank,
Jacksonville-based Barnett Bank, for $15.5 billion, growing the company's total assets
to $284 billion.
In _1998_ (http://en.wikipedia.org/wiki/1998) , it merged with BankAmerica
(http://en.wikipedia.org/wiki/BankAmerica) , San Francisco,  California
(http://en.wikipedia.org/wiki/San_Francisco,_California) , and the whole unit
took on the name of Bank  of America
(http://en.wikipedia.org/wiki/Bank_of_America) . With this merger, all of NationsBank's holdings, including some of the
tallest buildings in the nation (like Bank of  America Plaza
(http://en.wikipedia.org/wiki/Bank_of_America_Plaza_(Atlanta)) in Atlanta
(http://en.wikipedia.org/wiki/Atlanta) and the Bank of  America Corporate Center
(http://en.wikipedia.org/wiki/Bank_of_America_Corporate_Center) in Charlotte) took
Bank of America's name. Headquarters for the new enterprise were established in
Charlotte.
Retrieved from ""_http://en.wikipedia.org/wiki/NationsBank_
(http://en.wikipedia.org/wiki/NationsBank) ""

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