What is NCNB Bank?
North Carolina National Bank (NCNB) was a bank based in Charlotte, North Carolina, prior to 1960 called American Commercial Bank. It was one of the top banking institutions. From 1974 to 1983, the bank was run by Chairman and Chief Executive Officer Tom Storrs. What was NCNB forms the core of today's Bank of America .
When did North Carolina National Bank change its name?
In 1960 American Commercial Bank changed its name to North Carolina National Bank. In 1991 North Carolina National Bank acquired C&S/Sovran Corp. and took the new name, NationsBank. In 1998 NationsBank acquired BankAmerica Corp. and took the name Bank of America which now operates in all 50 states. The transaction was run by Hugh McColl.
What is the history of NationsBank?
The company named NationsBank was formed through the merger of several other banks in 1991, and prior to that had been through multiple iterations. Its oldest predecessor companies had been Commercial National Bank (CNB), formed in 1874, and American Trust Company founded in 1909.
What happened to North Carolina National Bank?
The son and grandson of bankers, McColl immediately consolidated acquisitions in Florida while moving into Georgia, South Carolina, Maryland, and Virginia. By 1987 NCNB was the largest bank in the Southeast. The 1989 acquisition of First Republic Bank, the largest bank in Texas, made NCNB the nation's ninth-largest bank.
See more
When did NationsBank become Bank of America?
September 30, 1998CHARLOTTE, NC, September 30, 1998 - NationsBank Corporation and BankAmerica Corporation today formally completed their merger, creating the largest bank in the United States. The merged company holds a leading 8 percent of the nation's bank deposits.
Who bought NationsBank?
NationsBank of Charlotte, N.C., merged with San Francisco-based BankAmerica Corp. in October to create the first coast-to-coast banking company in a $38 billion deal. The bank is now headquartered in Charlotte, with NationsBank Chief Executive Officer Hugh McColl in command.
What is the oldest bank in Georgia?
Georgia's first bank was a branch of the First Bank of the United States established in Savannah in 1802. In 1810, the Planters Bank of Savannah and the Bank of Augusta were chartered.
What did NationsBank become?
Bank of America merger In 1998, it acquired BankAmerica Corporation of San Francisco in what was the largest bank merger in American history at the time. Although NationsBank was the nominal survivor, the merged bank took the better-known Bank of America name, and operates under Bank of America's charter.
Who took over Barnett Bank?
NationsBankBarnett Bank was an American bank based in Florida. Founded in 1877, it eventually became the largest commercial bank in Florida with over 600 offices and $41.2 billion in deposits. Barnett was purchased by NationsBank in 1997.
Who bought First Atlanta bank?
Wachovia grew to become one of the largest banks in the Southeast partly on the strength of its accounts from the R.J. Reynolds Tobacco Company, which was also headquartered in Winston-Salem. On December 12, 1986, Wachovia purchased First Atlanta.
What banks did Bank of America take over?
On November 1, 1930, the Bank of Italy in San Francisco changed its name to Bank of America. The bank today has the same national bank charter number as Giannini's old bank— #13044.
Who bought Citizens and Southern Bank?
Southern Missouri Bancorp, Inc.Southern Missouri Bancorp, Inc., the parent corporation of Southern Bank, will acquire Citizens Bank and Trust in a stock and cash transaction, according to a press release. Citizens operates 14 banking centers in Kansas City, St.
Who did Bank of America merge with?
NationsBankBank of AmericaThe Bank of America Corporate Center, headquarters of Bank of America in Charlotte, North CarolinaFounded1998 (via the merger of BankAmerica & NationsBank) 1956 (as BankAmerica) 1784 (as its predecessor, the Massachusetts Bank, through the merger with FleetBoston in 1999)21 more rows
What was Bank of America previously?
On November 1, 1930, the Bank of Italy in San Francisco changed its name to Bank of America.
What's the number to Bank of America customer service?
(800) 432-1000Bank of America / Customer service
Who started the Bank of America?
Amadeo Peter GianniniBank of America is headquartered in Charlotte, North Carolina. The bank's history dates to 1904 when Amadeo Peter Giannini opened the Bank of Italy in San Francisco. It eventually developed into the Bank of America and was for a time owned by Giannini's holding company, Transamerica Corporation.
When did NationsBank acquire BankAmerica?
In 1998 NationsBank acquired BankAmerica Corp. and took the name Bank of America which now operates in all 50 states. The transaction was run by Hugh McColl. Bank of America retains NCNB/NationsBank's pre-1998 stock price history, and is headquartered at what is now Bank of America Corporate Center . The former North Carolina National Bank Building ...
When was the North Carolina National Bank added to the National Register of Historic Places?
The former North Carolina National Bank Building at Burlington, North Carolina was added to the National Register of Historic Places in 1984.
When did Ellis Bank of Florida merge with NCNB?
In 1983, Ellis Bank of Florida merged with NCNB and then, in 1986, NCNB announced plans for an 875-foot signature skyscraper in downtown Charlotte that would serve as its corporate headquarters. In 1991, while construction was underway, NCNB acquired C&S/Sovran Corp. of Atlanta and Norfolk and took the new name, NationsBank.
Where is the NCNB headquarters?
The NCNB and C&S/Sovran arrangement comes after nearly four weeks of well-publicized merger talks and was approved over the weekend during meetings between the two boards in Atlanta and Charlotte, the headquarters of NCNB and the new headquarters for Nationsbank.
Who is the chairman of NCNB?
Speaking to analysts in New York and reporters in Atlanta through a satellite and telephone linkup, top officials of the combined entity, including Hugh L. McColl Jr., NCNB's chairman and chief executive, and Bennett A. Brown, C&S/Sovran's chairman, gave final details of the deal. A 9-State Market
What is the merger of NCNB and C&S?
The NCNB Corporation and the C&S/Sovran Corporation formally announced yesterday that they would combine in a $4.3 billion merger to create a new entity called Nationsbank . The merger will create the nation's third-largest bank, with assets of about $116 billion.
Who is the chairman of Nationsbank?
Under the management structure for Nationsbank, 11 C&S/Sovran board members will be added to the board of NCNB, once known as the North Carolina National Bank. Mr. Brown will be the chairman of Nationsbank while Mr. McColl will be president and chief executive.
Does the new bank compete with money center banks?
Mr. Brown said the new bank does not plan to compete with money center banks in any specific lines of business, although some of its operations, including its mortgage servicing business and trust holdings, will rank with the nation's largest banks.
Is Nationsbank a community bank?
Nationsbank, instead, will concentrate on its existing franchise area at the level of community banks, Mr. Brown said. "That's where the value and the strength of this organization is. And that's where we'll be expanding."
Who is the chairman of NCNB?
NCNB Corp. chairman and chief executive Hugh L. McColl Jr. unveiled his executive lineup on Tuesday for the planned NationsBank. As expected, NCNB executives hold most major levers of power.
How much did DMB pay?
DMB Financial, a debt-settlement firm near Boston that operates in 24 states, agreed to pay $5.4 million in restitution to consumers for allegedly charging upfront fees before providing any service, the CFPB said.
When did NCNB become interstate?
After Tom Storrs became its CEO in 1974, NCNB expanded its international commitment by opening branches in England, South Africa, Australia, and Hong Kong. By 1976, with the Charlotte giant controlling 20 percent of the state's retail banking market, NCNB moved into interstate banking. Through ownership of the Trust Company of Florida, NCNB purchased the First National Bank of Lake City and quickly established a presence throughout Florida. In 1983 Hugh L. McColl Jr. became CEO of NCNB, succeeding Storrs. The son and grandson of bankers, McColl immediately consolidated acquisitions in Florida while moving into Georgia, South Carolina, Maryland, and Virginia. By 1987 NCNB was the largest bank in the Southeast.
When did NCNB merge with C&S?
The 1989 acquisition of First Republic Bank, the largest bank in Texas, made NCNB the nation's ninth-largest bank. In 1992 NCNB merged with Atlanta-based C&S and Sovran, the country's twelfth-largest bank, to become NationsBank, with nearly 2,000 offices and more than 59,000 employees. Through the $1.38 billion purchase of MNC Financial Corp. in 1993, merger with Boatman's Bankshares of St. Louis in 1996, and the purchase of Florida-based Barnett Banks in 1997, NationsBank became the third-largest banking entity in America.
Who wrote the story of NationsBank?
Howard E. Covington Jr. and Marion A. Ellis, The Story of NationsBank (1993).
What is the name of the bank that was merged with the American Trust Company?
Bank of America, the fifth-largest corporation in the world in 2004, has its roots in the 1957 merger of two Charlotte institutions, the American Trust Company and the Commercial National Bank. The newly formed American Commercial Bank, under the leadership of Addison Reese, merged three years later with Security National Bank of Greensboro. The new entity, North Carolina National Bank (NCNB), had assets of about $500 million. After an aggressive acquisition of a bank with the same name that was headquartered in Jacksonville, N.C., NCNB, with 40 branch offices in 20 North Carolina communities, was the second-largest bank in the state behind Wachovia Bank of Winston-Salem.
