305:, who began an aggressive period of expansion. This was initially a defensive move. At the time, it was feared that the New York City money center banks might devour local Southern banks. It was believed that the only way to prevent this was if the stronger banks in the region became too rich to be taken over. NCNB expanded beyond North Carolina for the first time in 1982, when it purchased Lake City, Florida–based First National Bank of Lake City. McColl became CEO of NCNB the following year. McColl would remain CEO until 2001, usually as president and intermittently as chairman.
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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. However, to this day it is headquartered in Charlotte at what is now
342:. Favorable terms, with the FDIC assuming most of the loan portfolios and absorbing mark-to-market losses, allowed NCNB to expand profitably, and a cost-cutting culture improved margins. Eventually, NCNB built a branch network stretching from Virginia to Florida, in addition to Texas.
298:(NCNB). Although American Commercial was the nominal survivor, it gave up its North Carolina state charter and took over Security's national charter. In 1969, NCNB reorganized as a holding company, NCNB Corporation.
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market, and was all but forced to merge with NCNB to form
NationsBank. This created the largest bank in the Southeast, with assets of $ 118 billion. The merger allowed NCNB/NationsBank to enter
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By that time, NCNB had become associated with "mergers, acquisitions, expansion, integration". From 1989 to 1992, NCNB acquired over 200 thrifts and community banks, many of these through the
236:. 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
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290:. American Trust was the nominal survivor, and its president, Addison Reese, became president of the merged bank. Only four years later, in 1960, American Commercial merged with
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486:, and retains NCNB/NationsBank's pre-1998 stock price history. With this merger, all of NationsBank's holdings, including some of the tallest buildings in the nation (including
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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.
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335:. FirstRepublic, the largest bank in Texas, had entered FDIC receivership after filing bankruptcy in March, and was the largest FDIC bank failure in history.
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In March 1993, NationsBank acquired
Chicago Research and Trading Group, expanding into derivatives and dramatically increasing foreign exchange trading.
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and the Bank of
America Corporate Center) took Bank of America's name. McColl became chairman and CEO of the merged company with Bank of America's
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502:. In 2001, McColl handed his remaining posts to Lewis, who began his career at NCNB in 1969. Lewis stepped down in 2009 and was replaced by
283:(CNB), the earliest forerunner of NationsBank, was formed in 1874. American Trust Company was founded a few blocks down Tryon Street in 1909.
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In 1973 Reese was succeeded as CEO by Tom Storrs, who the next year turned the presidency of NCNB over to then 39-year-old
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for a 16 percent nonvoting stake and an option to buy the whole company, which it subsequently executed in
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for $ 1.6 billion in stock. The deal significantly increased
NationsBank's already large presence in Atlanta.
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in a $ 1.2 billion transaction. Montgomery was integrated into the firm's existing broker-dealer,
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240:(CNB), formed in 1874, and American Trust Company founded in 1909. In 1998, NationsBank acquired
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Only two years later, however, C&S/Sovran was nearly brought down by problem loans in the
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as president, but
Coulter was quickly forced out in favor of NationsBank executive
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590:"Nations Bank Drives $ 62 Billion Merger: A New BankAmerica:Biggest of U.S. Banks"
252:, who led the merger with BankAmerica and became the first CEO of the present-day
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In 1989, NCNB tried to become even more powerful by launching a hostile bid for
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In 1988, NCNB's assets grew to $ 60 billion after it bought the failed
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Bank of
America building in Atlanta was for years owned by NationsBank
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689:"Montgomery name disappears, as Banc of America Securities debuts"
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for the first time. At one stroke, it became a major player in
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In 1957, American Trust merged with
Commercial National to form
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American Security and Trust Company Building (Washington, D.C.)
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610:"Family's Obit for Thomas Storrs, Builder of BofA Predecessor"
29:
555:
Pearlstein, Steven; Singletary, Michelle (October 24, 1995).
248:. The CEO of NationsBank throughout its entire existence was
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In September 1995, NationsBank announced the acquisition of
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In July 1992, NationsBank agreed to invest $ 200 million in
650:"Nationsbank Confirms a $ 1.2 Billion Deal for Montgomery"
279:
NationsBank traced its roots to two banks in Charlotte.
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557:"Modest Gains Seen if NationsBank, BankAmerica Merge"
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228:was one of the largest banking corporations in the
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60:. Unsourced material may be challenged and removed.
244:, and modified that better-known name to become
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1117:Bank of America Corporate Center (Charlotte)
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447:, and the combined subsidiary was renamed
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1345:Defunct companies based in North Carolina
898:Farmers and Merchants Bank of Los Angeles
424:The following year, NationsBank acquired
120:Learn how and when to remove this message
1277:
674:"Banker of America - September 5, 2005"
565:. p. Financial D01. Archived from
547:
294:-based Security National Bank to form
1047:555 California Street (San Francisco)
873:Citizens & Southern National Bank
319:Citizens & Southern National Bank
7:
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58:adding citations to reliable sources
625:"NationsBank To Acquire Bank South"
588:Martin, Mitchell (April 14, 1998).
439:In June 1997, NationsBank acquired
347:Citizens & Southern Corporation
1340:Defunct banks of the United States
623:Hansell, Saul (6 September 1005).
25:
978:Provident Institution for Savings
515:NationsBanc Montgomery Securities
449:NationsBanc Montgomery Securities
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484:Bank of America Corporate Center
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27:Former bank in the United States
908:First Republic Bank Corporation
853:Benj. Franklin Savings and Loan
687:Copulsky, Erica (17 May 1999).
45:needs additional citations for
722:NationsBank Records, 1962-1997
521:, headquartered in Charlotte.
511:BancAmerica Robertson Stephens
413:In 1996, NationsBank acquired
325:First RepublicBank Corporation
315:First RepublicBank Corporation
1:
1335:Banks based in North Carolina
963:National Westminster Bank USA
933:Gibraltar Savings Association
648:Truell, Peter (1 July 1997).
509:BankAmerica's broker-dealer,
398:Maryland National Corporation
1320:Banks disestablished in 1998
1315:Bank of America legacy banks
973:North Carolina National Bank
918:Fourth Financial Corporation
820:Bank of America, Los Angeles
778:Bank of America Private Bank
531:Banking in the United States
355:Sovran Financial Corporation
296:North Carolina National Bank
275:North Carolina National Bank
159:North Carolina National Bank
948:MBNA/Maryland National Bank
445:NationsBanc Capital Markets
246:Bank of America Corporation
200:Bank of America Corporation
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928:Gibraltar Savings and Loan
815:Banc of America Securities
773:Bank of America Home Loans
693:Investment Dealers' Digest
519:Banc of America Securities
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1325:Banks established in 1960
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1066:Bank of America Building
825:Bank of America NT&SA
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536:Economy of North Carolina
234:Charlotte, North Carolina
211:Charlotte, North Carolina
137:
1192:Hearst Tower (Charlotte)
1026:Western Savings and Loan
943:Mercury Asset Management
878:Commercial National Bank
361:to form C&S/Sovran.
340:Resolution Trust program
309:Mergers and acquisitions
288:American Commercial Bank
281:Commercial National Bank
271:Commercial National Bank
238:Commercial National Bank
1086:Bank of America Center
475:BankAmerica Corporation
265:Background and founding
18:NationsBank Corporation
1161:Bank of America Tower
1121:Bank of America Plaza
953:Michigan National Bank
923:G. H. Walker & Co.
893:E. A. Pierce & Co.
868:Central Bank and Trust
513:, was integrated into
470:
455:Bank of America merger
1006:Standard Federal Bank
998:Security Pacific Bank
958:Montgomery Securities
888:Countrywide Financial
863:Cassatt & Company
488:Bank of America Plaza
473:In 1998, it acquired
468:
441:Montgomery Securities
1031:White Weld & Co.
883:Continental Illinois
858:Boatmen's Bancshares
419:Boatmen's Bancshares
54:improve this article
1052:701 Brickell Avenue
835:Bank of New England
612:. 14 February 2012.
562:The Washington Post
392:Growth in the 1990s
134:
988:Robertson Stephens
718:(Archived Website)
654:The New York Times
629:The New York Times
595:The New York Times
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1057:Albuquerque Plaza
428:'s largest bank,
370:Northern Virginia
359:Norfolk, Virginia
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16:(Redirected from
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569:on June 4, 2011
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71: –
70:
69:"NationsBank"
66:
65:Find sources:
59:
55:
49:
48:
43:This article
41:
37:
32:
31:
19:
1258:
1245:
1202:Museum Tower
1165:Jacksonville
1002:Shawmut Bank
967:
938:LaSalle Bank
845:Barnett Bank
696:. Retrieved
692:
682:
668:
657:. Retrieved
653:
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632:. Retrieved
628:
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583:
571:. Retrieved
567:the original
560:
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448:
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438:
434:Barnett Bank
430:Jacksonville
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206:Headquarters
188:Merged with
155:Predecessors
116:
110:January 2010
107:
97:
90:
83:
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52:Please help
47:verification
44:
1197:Miami Tower
1100:Los Angeles
1011:Sovran Bank
968:NationsBank
806:Historical
716:NationsBank
303:Hugh McColl
250:Hugh McColl
242:BankAmerica
232:, based in
226:NationsBank
190:BankAmerica
133:NationsBank
1309:Categories
1211:Executives
913:Fleet Bank
840:BankBoston
808:components
698:2015-08-28
659:2015-08-28
634:2015-08-28
573:2001-01-17
542:References
459:See also:
313:See also:
292:Greensboro
269:See also:
80:newspapers
1299:Companies
1223:Ken Lewis
1170:Manhattan
1150:St. Louis
1130:Charlotte
1090:Baltimore
1070:Baltimore
1040:Buildings
1021:Suretrade
766:Divisions
500:Ken Lewis
415:St. Louis
374:Tennessee
331:from the
196:Successor
1247:Category
525:See also
386:Virginia
378:Maryland
147:Industry
1273:Portals
1259:Commons
1175:Phoenix
1135:Chicago
1125:Atlanta
1105:Norfolk
1095:Houston
1080:Oakland
1075:Midland
849:Baybank
788:Merrill
492:Atlanta
432:-based
426:Florida
417:–based
382:Georgia
351:Atlanta
260:History
177:Defunct
169:Founded
150:Banking
94:scholar
1140:Dallas
96:
89:
82:
75:
67:
1155:Tampa
1110:Tulsa
101:JSTOR
87:books
384:and
376:and
333:FDIC
317:and
273:and
185:Fate
180:1998
172:1991
73:news
490:in
477:of
357:of
349:of
327:of
56:by
1311::
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98:·
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50:.
20:)
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