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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. [1] What was NCNB forms the core of today's Bank of America.
In 1957 American Trust Co. (founded 1901) [2] [3] and Commercial National Bank (founded 1876) merged to form American Commercial Bank in Charlotte, North Carolina. In 1960 American Commercial Bank merged with Greensboro-based Security National Bank to form North Carolina National Bank. While American Commercial was the nominal survivor, the merged bank gave up American Commercial's state charter to operate under the Greensboro bank's national charter. In 1969, it reorganized as a holding company, NCNB Corporation.
In 1983, Ellis Bank of Florida merged with NCNB [4] 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. The new skyscraper opened in 1992 as NationsBank Corporate Center.
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.
The former North Carolina National Bank Building at Burlington, North Carolina was added to the National Register of Historic Places in 1984. [7]
The Bank of America Corporation is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. The bank was founded in San Francisco, and took its present form when NationsBank of Charlotte acquired it in 1998. It is the second largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.
Bank of America Plaza is a 72-story, 280.7 m (921 ft) late-modernist skyscraper located in the Main Street District in the city's downtown core in Dallas, Texas, United States. It is the tallest skyscraper in the city, the 3rd tallest in Texas and the 40th tallest in the United States. It contains 1,900,000 sq ft (180,000 m2) of office space. The building was designed by JPJ Architects and developed by Bramalea Limited of Brampton, Canada. The original owner was a joint venture arrangement including Prudential Insurance, Bramalea Limited, and First National Bank of Dallas under parent company InterFirst Corporation. Construction commenced in 1983 and the tower was completed in 1985.
The Bank of America Corporate Center is an 871 ft (265 m) skyscraper in Uptown Charlotte, North Carolina. When completed in 1992, it became and remains the tallest building in Charlotte and in North Carolina; the building is 60 stories high. It is the 174th-tallest building in the world. Designed by Argentine architect César Pelli and HKS Architects, it is the 31st-tallest building in the United States and is the most widely known building in the Charlotte skyline. It is best known as the world headquarters for Bank of America.
NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. 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. In 1998, NationsBank acquired BankAmerica, and modified that better-known name to become Bank of America.
Truist Financial Corporation is an American bank holding company headquartered in Charlotte, North Carolina. The company was formed in December 2019 as the result of the merger of BB&T and SunTrust Banks. Its bank operates 2,781 branches in 15 states and Washington, D.C., and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. It is on the list of largest banks in the United States by assets; as of June 2021, it is the 10th largest bank with $509 billion in assets. As of January 2021, Truist Insurance Holdings is the seventh largest insurance broker in the world with $2.27 billion in annual revenue.
Amresco was the new name given to "Financial Resource Management, Inc.", a subsidiary of the NCNB Texas National Bank in 1992.
First Union Corporation was a bank holding company that provided commercial and retail banking services in eleven states in the eastern U.S. First Union also provided various other financial services, including mortgage banking, credit card, investment banking, investment advisory, home equity lending, asset-based lending, leasing, insurance, international and securities brokerage services and private equity, through other subsidiaries. In September 2001, First Union completed a merger with Wachovia National Bank to become Wachovia Corporation, one of the largest financial holding companies in the US. As of the end of 2000, First Union had over $171 billion of total assets, over 70,000 employees and 2,193 branches.
Hugh L. McColl Jr. is a fourth-generation banker and the former Chairman and 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-to-ocean bank in the nation's history".
The Truist Center is a 47-story, 659 ft (201 m) skyscraper in downtown Charlotte, North Carolina. The city's third tallest building, it is located along North Tryon Street. It was opened on 14 November 2002 and was known as the "Hearst Tower" until 2019. The structure is composed of a 32-story tower resting atop a 15-floor podium. Within the podium is a three-story, 17,000-square-metre (180,000 sq ft) trading floor designed by Skidmore, Owings & Merrill and operated by Bank of America. The building is currently the headquarters of Truist Financial, which purchased the building in March 2020.
Commercial National Bank was a bank formed in Charlotte, North Carolina on 18 February 1874, which was a predecessor to the American Commercial Bank which then helped form North Carolina National Bank. 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." Commercial National Bank and the American Trust Company shared a building in Charlotte prior to their merger in 1958 as American Commercial Bank.
Citizens and Southern National Bank (C&S) began as a Georgia institution that expanded into South Carolina, Florida and into other states via mergers. Headquartered in Atlanta, Georgia; it was the largest bank in the Southeast for much of the 20th century. C&S merged with Sovran Bank in 1990 to form C&S/Sovran in hopes of fending off a hostile takeover attempt by NCNB Corporation. Only a year later, however, C&S/Sovran merged with NCNB to form NationsBank, which forms the core of today's Bank of America.
Sovran Bank was a US-based regional bank that operated in Virginia between 1983 and 1990, and was the leading subsidiary of Sovran Financial Corporation. It was itself a product of a merger between First & Merchants Bank of Richmond and Virginia National Bankshares of Norfolk, both of which could trace back their history to the 1860s. In 1990, it was merged with Citizens & Southern National Bank to form C&S/Sovran Corp., which in turn merged with NCNB to form NationsBank which became Bank of America in 1998.
First Republic Bank Corporation was an American bank based in Texas. Founded as the Guaranty Bank and Trust Company in 1920, in 1922 it assumed the name Republic National Bank of Dallas. Afterwards the bank acquired several banks and invested in others, and changed its name several times. By 1948 Republic had grown to become the largest bank in Texas. The bank failed in 1988, during the savings and loan crisis. It was acquired by NCNB Corporation in 1988. As a result of a series of mergers over the next two decades, most of what was once First Republic is now part of Bank of America.
One Wells Fargo Center is a skyscraper in Charlotte, North Carolina. It is the headquarters for Wells Fargo's east coast division. At 588 feet (179 m) tall and 42 stories, it is the fifth tallest building in Charlotte. When it was opened on September 14, 1988, it was the tallest building in North Carolina. In 1992, One Wells Fargo Center was surpassed by the Bank of America Corporate Center, and again in 2002 by Hearst Tower, another Bank of America building. It is considered Charlotte's first postmodern high-rise.
One South at The Plaza is a 503 feet (153 m), 40-story skyscraper in Charlotte, North Carolina. It is the 6th tallest in the city. It contains 887,079 square feet (82,412 m2) of rentable area of which 75,000 sq ft (7,000 m2) of retail space, and the rest office space. The tower also has a below-grade parking garage with space for 456 vehicles and leases a nearby five-level garage, providing 730 additional parking spaces.
200 South Tryon is a 299 feet (91 m) tall skyscraper in Charlotte, North Carolina. It was completed in 1961 and has 18 floors. It is the 19th tallest building in the city. Gerald D. Hines Interestspurchased what was then called the BB&T Building in December 1998 and began a renovation process that added another floor which was completed in 2001. and in the process was upgraded to contain all Class B office space.
Southern National Bank was a bank headquartered first in Lumberton, North Carolina and then in Winston-Salem, North Carolina. It joined with BB&T in 1995.
Merchants and Farmers National Bank Building was a historic bank building in Charlotte, Mecklenburg County, North Carolina. It was built in 1871–1872, a three-story, brick building with a stuccoed front and Italianate style cast iron trim manufactured by the Mecklenburg Iron Works. The building housed Independent Order of Odd Fellows lodges that met there from the 1870s through 1920. It was the oldest surviving commercial building in the central business district of Charlotte until it was demolished in 1989.
BB&T Corporation was one of the largest banking and financial services firms in the United States, based in Winston-Salem, North Carolina. In 2019, BB&T announced its intentions to merge with Atlanta-based SunTrust Banks to form Truist Financial.
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