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NationsBank traced its roots to two banks in Charlotte. Commercial National Bank (CNB), the earliest forerunner of NationsBank, was formed in 1874. American Trust Company was founded a few blocks down Tryon Street in 1909.
NationsBank Corp. Bank of America: 1991 Norwest Corporation: United Bank of Denver Norwest Corporation Wells Fargo: 1991 Wachovia: The South Carolina National Bank Wachovia: Wells Fargo: 1991 First Union Corporation: Southeast Banking Corporation: First Union Corporation: Wells Fargo: 1991 NBD Bancorp: Summcorp NBD Bancorp: $323 million [25 ...
While NationsBank was the nominal survivor, the merged bank took the better-known name of Bank of America. Hence, the holding company was renamed Bank of America Corporation, while NationsBank, N.A. merged with Bank of America NT&SA to form Bank of America, N.A. as the remaining legal bank entity. [39]
Hugh L. McColl Jr. (born 18 June 1935) is a former business executive who was the CEO of NationsBank [1] and the former chairman and the first CEO of Bank of America.Active in banking since around 1960, McColl was a driving force behind consolidating a series of progressively larger, mostly Southern banks, thrifts and financial institutions into a super-regional banking force, "the first ocean ...
NCNB changed their name to NationsBank in 1991 and then again to Bank of America in 1999 through a series of mergers and acquisitions. Commercial National "is the oldest national banking institution in North Carolina."
This page was last edited on 18 September 2007, at 04:56 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
The merger of BankAmerica Corporation and NationsBank Corporation, prompted NationsBank CEO Hugh McColl to propose to put the together the two investment banks, BancAmerica Robertson Stephens and NationsBanc Montgomery Securities. [2] Ultimately the combination did not happen as Robertson Stephens was sold off in 1998 to FleetBoston. [3]
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 . [ 5 ] [ 6 ] Bank of America retains NCNB/NationsBank's pre-1998 stock price history, and is headquartered at what is now Bank of America Corporate Center .