Knowledge (XXG)

Sovran Bank

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1268: 1712: 1724: 232:, it was organized in 1902. In 1931, the bank completed construction of a new building on the site of the former Willcoxon Tavern. The Moore and McCandlish law firm, which had offices on the second floor of the former bank building built in 1905, occupied the building until 1972. Community Bank of Northern Virginia, organized in 1992 in 27: 699:
Only two years later, C&S/Sovran was sent reeling by problem loans in the Washington/Northern Virginia market. Under the circumstances, it had little choice but to agree to merge with NCNB Corporation of Charlotte. Ironically, C&S had merged with Sovran to fend off a hostile takeover attempt
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Norfolk National Bank was organized in 1885 and became "not only the leading bank of Norfolk, but probably the leading bank of Virginia, having recently increased its capital to one million dollars, with a surplus of half a million." Norfolk National Bank, Trust Company of Norfolk (1895) and National
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Cliff Cutchins, who in 1980 became chairman and CEO of Virginia National Bankshares Inc. and held the same positions at Sovran until his 1989 retirement, started out as a teller in 1947 at Vaughan & Co. Bankers in
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Bank of Commerce (1867) joined to become Norfolk National Bank of Commerce & Trusts, which joined with Virginia National Bank of Norfolk to become National Bank of Commerce of Norfolk October 9, 1933.
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announced plans for a stock-swap merger. The combined bank had $ 47 billion in assets, $ 34 billion in deposits and 976 branches in eight states. It was originally to be named
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In 1920, Church Street Bank at Church and Freemason streets in Norfolk became American Exchange Bank, whose deposits were taken over in 1924 by Virginia National Bank.
406:, with a "gilded, coffered ceiling" and "a facade patterned directly after a Roman triumphal arch." Virginia Trust Company merged with Virginia National Bank in 1973. 901: 1770: 1790: 1531: 1785: 1755: 1187: 995: 1367: 1219: 1780: 1016: 1614: 720:"Bank of America Corporation - Company Profile, Information, Business Description, History, Background Information on Bank of America Corporation" 1775: 1760: 1634: 1569: 1539: 219: 1342: 142: 1765: 1559: 1549: 1544: 743: 382:
company executives. James B. Pace, the first president, was a tobacco executive and the head of Planters National Bank (which became
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Richmond had no bank after the federal government had revoked charters of banks whose loyalty was questioned. So eight days after
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Merchants National Bank merged with First National February 27, 1926, at which time the bank became First & Merchants Bank.
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were new in the south and not all banks could have trust departments. The original board of directors included a number of
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underpass was built. The name changed to Suburban National Bank in 1938 when the bank took over Takoma Park Bank.
364:. In 1960, he became president of the bank, which his grandfather had founded in 1886. In 1962, a merger with two 1097: 417: 387: 1716: 1661: 1495: 1412: 1347: 1205: 1192: 558: 295: 1294: 832:
Men of Mark in Virginia, Ideals of American Life; A Collection of Biographies of the Leading Men in the State
1327: 643: 510: 1422: 588: 583: 545: 524: 489: 460: 267: 684:, and it had offices in Tennessee and Maryland. In September 1989, Sovran and Citizens & Southern of 1692: 1516: 1475: 1467: 1427: 1382: 751: 602: 449: 386:). The Virginia Trust Company building, also designed by Bossom, opened May 31, 1921, was an example of 199: 1392: 1362: 179: 1671: 1352: 1332: 1129: 681: 674: 569: 562: 552: 493: 383: 302: 281: 253: 203: 1267: 1521: 1500: 1304: 974: 944: 531: 514: 471: 467: 323: 274: 1649: 1457: 1070: 658: 538: 485: 453: 442: 438: 431: 361: 316: 288: 260: 233: 130: 37: 368:
banks formed Tidewater Bank and Trust Co., which in turn became part of Virginia National Bank.
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In 1981, The National Bank of Fairfax merged with First & Merchants Bank. The first bank in
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First National Bank had the most assets of any Richmond bank at the turn of the century (1900).
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Later it merged with National Exchange Bank and moved to 10th and Main streets. Despite the
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Richmond's Virginia Trust Company could be chartered only after special legislation, since
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In 1985, Sovran announced a merger with Suburban Bancorp, the fourth-largest bank in
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Virginia National Bank's 24-story Norfolk headquarters opened in January 1968.
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Banks which merged with what became Virginia National Bankshares, Inc.:
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Photo of Sovran Bank Building in Norfolk, Virginia (September, 1986)
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Photo of First National Bank Building entrance in Richmond, Virginia
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National Bank of Virginia merged with First National Sept. 1, 1912.
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Jay McIntosh, "N.C. Banks' Merger Plan Starts More Takeover Talk,"
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The name Sovran came from Glenn Monigle & Associates Inc. of
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at 9th and Main streets, completed in downtown Richmond in 1913.
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American Security and Trust Company Building (Washington, D.C.)
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at the time. Silver Spring National Bank, the first bank in
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Photo of First National Bank building in Richmond, Virginia
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between 1983 and 1990, and was the leading subsidiary of
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Sovran Bank was the largest bank in Virginia and in the
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Merchants & Planters Bank, Norfolk, November 4, 1957
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to form C&S/Sovran Corp., which in turn merged with
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Photo of Virginia National Bank headquarters in Norfolk
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Banks which merged with First & Merchants Bank:
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Savings & American Trust Co., December 30, 1961
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Virginia Department of Historic Resources 806:"The Old National Bank of Fairfax Building" 741:Federal, State and Local Historic Districts 336:The National Bank of Fairfax, June 30, 1981 1220: 1206: 1198: 236:, moved into the building that same year. 18: 1368:Farmers and Merchants Bank of Los Angeles 851: 849: 766: 764: 762: 804:Johnson, William Page II (Winter 2004). 708: 273:Peoples National Bank & Trust Co., 714: 712: 1517:555 California Street (San Francisco) 1343:Citizens & Southern National Bank 143:Citizens & Southern National Bank 7: 1771:Companies based in Norfolk, Virginia 1723: 945:"Manor Terrace named After Cutchins" 692:. However, it was eventually called 308:Suburban National Bank of Virginia, 220:National Register of Historic Places 1791:Defunct companies based in Virginia 902:"Virginia National Bank of Norfolk" 608:First City Bank, Newport News, 1982 1786:1990 disestablishments in Virginia 1756:Defunct banks of the United States 950:. German Club Forum. November 1999 829:Tyler, Lyon Gardiner, ed. (1907). 646:, in 1910, moved in 1925 when the 14: 1448:Provident Institution for Savings 1040:Moody's Bank & Finance Manual 856:Moody's Bank & Finance Manual 771:Moody's Bank & Finance Manual 16:Defunct US-based bank in Virginia 1722: 1711: 1710: 1266: 1122:"Sovran Reports Rise in Profits" 1098:"SilverSpring: Then & Again" 1066:"Sovran in Accord With Suburban" 835:. Men of Mark Publishing Company 441:and Tidewater Bank & Trust, 25: 1781:1983 establishments in Virginia 1378:First Republic Bank Corporation 1323:Benj. Franklin Savings and Loan 452:and Southern Bank of Commerce, 784:"First National Bank Building" 690:Advantor Financial Corporation 551:Merchants & Farmers Bank, 509:Farmers & Merchants Bank, 437:Farmers & Merchants Bank, 1: 1433:National Westminster Bank USA 1403:Gibraltar Savings Association 582:Old Colony Bank & Trust, 191:financial crises of the 1890s 1776:Banks disestablished in 1990 1761:Bank of America legacy banks 1443:North Carolina National Bank 1388:Fourth Financial Corporation 1290:Bank of America, Los Angeles 1248:Bank of America Private Bank 1151:"Fed Approves Sovran Merger" 968:Cossitt, F.D. (1968-01-28). 922:Nutter, David (1995-04-06). 530:Commonwealth National Bank, 135:Virginia National Bankshares 123:Sovran Financial Corporation 1418:MBNA/Maryland National Bank 755:. Retrieved March 21, 2007. 648:Baltimore and Ohio Railroad 470:and First National Bank of 1807: 1398:Gibraltar Savings and Loan 1285:Banc of America Securities 1243:Bank of America Home Loans 924:"William H. Ruffner Medal" 722:. referenceforbusiness.com 653:In 1986, Sovran took over 601:Northern Virginia Bank of 591:Bank & Trust Co., 1982 502:National Bank and Bank of 466:People's National Bank of 210:designed Richmond's first 166:First & Merchants Bank 127:First & Merchants Bank 1766:Banks established in 1983 1706: 1536:Bank of America Building 1295:Bank of America NT&SA 1264: 871:History of Roanoke County 430:Farmers Exchange Bank of 24: 1662:Hearst Tower (Charlotte) 1496:Western Savings and Loan 1413:Mercury Asset Management 1348:Commercial National Bank 1096:McCoy, Jerry A. (2004). 926:. Virginia Tech Spectrum 904:. Norfolk Public Library 773:, 1983, Vol. 1, p. 1830. 661:. In 1987, Sovran added 611:Citizens National Bank, 322:Services National Bank, 1751:Banks based in Virginia 1556:Bank of America Center 1042:, 1983, Vol. 1, p. 586. 811:. The Fare Facs Gazette 644:Silver Spring, Maryland 575:Farmers Exchange Bank, 484:Peoples National Bank, 448:First National Bank of 287:Loudoun National Bank, 259:Augusta National Bank, 176:surrender at Appomattox 1631:Bank of America Tower 1591:Bank of America Plaza 1423:Michigan National Bank 1393:G. H. Walker & Co. 1363:E. A. Pierce & Co. 1338:Central Bank and Trust 1053:The Charlotte Observer 874:. Stone. p. 189. 669:by buying 71-year-old 341:Virginia National Bank 1476:Standard Federal Bank 1468:Security Pacific Bank 1428:Montgomery Securities 1358:Countrywide Financial 1333:Cassatt & Company 752:National Park Service 655:D.C. National Bancorp 627:Growth of Sovran Bank 568:First National Bank, 544:First National Bank, 537:First National Bank, 388:Neo-Classical Revival 315:First National Bank, 280:First National Bank, 266:First National Bank, 246:First National Bank, 204:Clinton & Russell 200:Alfred Charles Bossom 1501:White Weld & Co. 1353:Continental Illinois 1328:Boatmen's Bancshares 1130:The Associated Press 682:District of Columbia 675:Nashville, Tennessee 594:First State Bank of 434:, September 13, 1963 390:architecture, using 384:United Virginia Bank 263:, September 29, 1962 1522:701 Brickell Avenue 1305:Bank of New England 1055:, January 18, 1990. 975:The Virginian-Pilot 565:, November 23, 1970 541:, December 19, 1969 527:, November 15, 1968 513:, National Bank of 445:, December 13, 1963 326:, November 30, 1979 291:, September 1, 1965 250:, December 31, 1959 21: 1458:Robertson Stephens 1155:The New York Times 1126:The New York Times 1071:The New York Times 746:2006-10-15 at the 659:Bethesda, Maryland 521:Northampton County 481:, November 5, 1965 463:, January 29, 1965 366:Southampton County 362:Franklin, Virginia 305:, January 31, 1966 277:, January 31, 1963 270:, November 1, 1962 99:Commercial banking 38:Financial services 1738: 1737: 1527:Albuquerque Plaza 534:, August 15, 1969 506:, August 26, 1966 427:, August 23, 1963 423:National Bank of 298:, January 1, 1966 248:Ashland, Virginia 230:Fairfax, Virginia 117:that operated in 108: 107: 85:Norfolk, Virginia 1798: 1726: 1725: 1714: 1713: 1270: 1222: 1215: 1208: 1199: 1166: 1165: 1163: 1162: 1147: 1141: 1140: 1138: 1137: 1118: 1112: 1111: 1109: 1108: 1093: 1087: 1086: 1084: 1083: 1062: 1056: 1049: 1043: 1037: 1031: 1030: 1028: 1027: 1021: 1013: 1007: 1006: 1004: 1003: 992: 986: 985: 983: 982: 965: 959: 958: 956: 955: 949: 941: 935: 934: 932: 931: 919: 913: 912: 910: 909: 898: 892: 891: 889: 888: 865: 859: 853: 844: 843: 841: 840: 826: 820: 819: 817: 816: 810: 801: 795: 794: 792: 791: 780: 774: 768: 757: 737: 731: 730: 728: 727: 716: 633:Denver, Colorado 548:, March 15, 1970 496:, April 11, 1966 420:, April 26, 1963 312:, August 1, 1970 180:Hamilton G. Fant 29: 22: 1806: 1805: 1801: 1800: 1799: 1797: 1796: 1795: 1741: 1740: 1739: 1734: 1702: 1688:Amadeo Giannini 1676: 1615:Fort Lauderdale 1505: 1453:Rainier Bancorp 1277: 1271: 1262: 1253:BofA Securities 1231: 1229:Bank of America 1226: 1174: 1169: 1160: 1158: 1149: 1148: 1144: 1135: 1133: 1120: 1119: 1115: 1106: 1104: 1095: 1094: 1090: 1081: 1079: 1064: 1063: 1059: 1050: 1046: 1038: 1034: 1025: 1023: 1019: 1015: 1014: 1010: 1001: 999: 994: 993: 989: 980: 978: 967: 966: 962: 953: 951: 947: 943: 942: 938: 929: 927: 921: 920: 916: 907: 905: 900: 899: 895: 886: 884: 882: 867: 866: 862: 858:, 1971, p. 368. 854: 847: 838: 836: 828: 827: 823: 814: 812: 808: 803: 802: 798: 789: 787: 782: 781: 777: 769: 760: 748:Wayback Machine 738: 734: 725: 723: 718: 717: 710: 706: 629: 517:, June 29, 1968 492:National Bank, 474:, April 8, 1965 456:, April 3, 1964 418:Charlottesville 376:trust companies 343: 319:, June 30, 1979 284:, July 31, 1964 168: 163: 155:Bank of America 113:was a US-based 101: 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Retrieved 698: 693: 689: 679: 670: 654: 652: 637: 630: 589:South Boston 584:Williamsburg 546:Harrisonburg 525:Cape Charles 523:Trust Bank, 490:Wythe County 461:Glade Spring 408: 373: 370: 358: 355: 348: 344: 329:The Bank of 268:Newport News 238: 227: 224: 198: 195: 188: 169: 134: 126: 122: 110: 109: 81:Headquarters 1667:Miami Tower 1570:Los Angeles 1481:Sovran Bank 1438:NationsBank 1276:Historical 657:, based in 603:Springfield 450:Buena Vista 151:NationsBank 111:Sovran Bank 65:NationsBank 20:Sovran Bank 1745:Categories 1681:Executives 1383:Fleet Bank 1310:BankBoston 1278:components 1161:2009-04-23 1136:2009-04-23 1107:2009-04-23 1082:2009-04-23 1026:2009-04-30 1002:2009-04-30 981:2009-04-30 954:2009-04-30 930:2009-04-30 908:2009-04-23 887:2009-04-30 839:2009-04-30 815:2009-04-23 790:2009-04-23 726:2009-04-23 704:References 570:Troutville 563:Hillsville 553:Smithfield 494:Wytheville 303:Chesapeake 282:Waynesboro 254:Petersburg 212:skyscraper 1693:Ken Lewis 1640:Manhattan 1620:St. Louis 1600:Charlotte 1560:Baltimore 1540:Baltimore 1510:Buildings 1491:Suretrade 1236:Divisions 786:. nps.gov 667:Tennessee 532:Arlington 515:Woodstock 472:Gate City 468:Farmville 324:Arlington 275:Lynchburg 157:in 1998. 71:Successor 1717:Category 744:Archived 663:Kentucky 640:Maryland 539:Quantico 486:Victoria 459:Bank of 454:Danville 443:Franklin 439:Staunton 432:Abingdon 404:mahogany 317:Danville 301:Bank of 294:Bank of 289:Leesburg 261:Staunton 234:Sterling 216:BB&T 149:to form 131:Richmond 119:Virginia 95:Products 34:Industry 1729:Commons 1645:Phoenix 1605:Chicago 1595:Atlanta 1575:Norfolk 1565:Houston 1550:Oakland 1545:Midland 1319:Baybank 1258:Merrill 1076:Reuters 686:Atlanta 620:Mathews 577:Coeburn 500:Pulaski 479:Hampton 425:Suffolk 392:granite 380:tobacco 351:Roanoke 331:Chatham 161:History 139:Norfolk 52:Defunct 44:Founded 1610:Dallas 878:  622:, 1982 615:, 1982 605:, 1982 598:, 1982 579:, 1981 572:, 1981 561:Bank, 400:bronze 396:marble 310:McLean 1625:Tampa 1580:Tulsa 1020:(PDF) 948:(PDF) 809:(PDF) 613:Fries 504:Crewe 876:ISBN 665:and 596:Wise 488:and 402:and 147:NCNB 133:and 60:Fate 55:1990 47:1983 673:of 206:in 202:of 174:'s 137:of 129:of 1747:: 1153:. 1128:. 1124:. 1100:. 1074:. 1068:. 972:. 848:^ 761:^ 750:, 711:^ 677:. 635:. 398:, 394:, 353:. 222:. 87:, 1221:e 1214:t 1207:v 1164:. 1139:. 1110:. 1085:. 1029:. 1005:. 984:. 957:. 933:. 911:. 890:. 842:. 818:. 793:. 739:" 729:.

Index


Financial services
NationsBank
Bank of America
Norfolk, Virginia
United States
Commercial banking
Retail banking
regional bank
Virginia
Richmond
Norfolk
Citizens & Southern National Bank
NCNB
NationsBank
Bank of America
Robert E. Lee
surrender at Appomattox
Hamilton G. Fant
Customs House
financial crises of the 1890s
Alfred Charles Bossom
Clinton & Russell
New York City
skyscraper
BB&T
National Register of Historic Places
Fairfax, Virginia
Sterling
Ashland, Virginia

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