Lighthouse Financial a beacon for small businesses Nov 12, 2008
So Elliott called Brad Leach, senior vice president of business development at Lighthouse Financial Corp. in Greensboro, a fellow he d known from years ago when Leach was Elliott s banker at the old NationsBank, now Bank of America. Lighthouse is an asset-based lender, meaning it lends strictly against the value of a borrower s assets, not its cash flow: primarily accounts receivable and inventories and sometimes machinery and equipment, though not real estate. (Business Journal of the Greater Triad Area)
BofA expands credit-card program Nov 11, 2008
The bank was acquired in 1998 by NationsBank, which took the Bank of America name and moved the headquarters to Charlotte, N.C.. Reader Comments. (Sacramento Business Journal, CA)
Dating: Worship together? Nov 11, 2008
All you need to know about dirty bankers is Nationsbank (now Bank of America) and the shady actions of (NationsCredit) ... I remember Nationsbank all to well and Nationscredit. (Atlanta Journal-Constitution)
New leadership at Md. Stadium Authority Nov 8, 2008
Morton, now retired, had served in various roles at Bank of America and NationsBank, including president of the mid-Atlantic region from 1997 to 2001. The Annapolis resident has also served as chairman of the venerable , as well as chair of the region's effort to bring the 2012 Summer Olympics to the Baltimore/Washington, D.C., region. (Baltimore Business Journal, MD)
Ex-BofA chief finds reward in art, not stocks Oct 24, 2008
McColl, you may remember, broke San Francisco's heart 10 years ago when he merged Bank of America with his East Coast NationsBank and took its headquarters to Charlotte, N.C. Since retiring in 2001, McColl's chief interest lies with the 19th and 20th century American and European artwork he has bought and exhibits in galleries in Charlotte and New York. Some are on display at Chappell lar in San Francisco for the next month. (San Francisco Chronicle -- Business)
Lawyers putting ethics in the limelight Oct 6, 2008
That led to a full-time acting job, that included 12 national commercials for companies like , Nationsbank and Stop N Go. Brawny, and standing over 6 feet 2 inches tall, Cusenbary was cast as the stereotypical football player/frat boy/farm boy ( I rode a lot of tractors, he quips. (San Antonio Business Journal, TX)
High-energy Hagan was dynamo in community Oct 5, 2008
PROFESSIONAL CAREER: Attorney; worked as attorney for NationsBank (now Bank of America), 1978-88. ELECTIVE OFFICE: N.C. Senate, 1999 to present. (News & Observer)
Bank of America's Tomato-Growing `Genius' Helps Lewis Seize Merrill Prize Sep 25, 2008
Curl rose to the post of vice chairman at Boatmen's and helped orchestrate its $10 billion sale, in 1997, to McColl, then the chief of Charlotte-based NationsBank Corp. Curl secured a role as his new firm's in-house dealmaker and moved to Charlotte. Bad Idea. (Bloomberg)
Bank of America Growth, Wachovia-Morgan Talks Bring No Cheer to Charlotte Sep 19, 2008
The 1998 purchase of San Francisco-based BankAmerica Corp. transformed both Charlotte and NationsBank Corp., giving the latter its current name. The 73,778-seat stadium of the , a National Football League team, bears the Bank of America name too. (Bloomberg)
BofA-Merrill deal: Analysts raise short-term questions Sep 17, 2008
BofA predecessor NationsBank s acquisition of in the late 1990s was a disaster because of a cultural mismatch, says Gary Tenner, who co-manages investment firm. He believes the principal challenge for BofA will again be cultural. (Albany Business Review, NY)
Corporate Law Firms See Dark Days Ahead Sep 16, 2008
The onetime NationsBank of Charlotte, N.C., which acquired Bank of America in 1998, has regularly turned to Wachtell for corporate-level M&A advice, but its investment bank has only rarely been lead underwriter or advisor in major transactions, so it has a sparser record of hiring deal counsel. Its acquisition of Merrill, one of the leading underwriters in the world, will make Bank of America one of the top players on Wall Street. (Law.com)
Kenneth Lewis Sep 16, 2008
Through a series of purchases made by McColl, NCNB turned into NationsBank, which turned into Bank of America, which in time grew to become the nation's biggest retail bank, home loan provider and credit card issuer. As Bank of America expanded, Lewis continued up the corporate ladder, and when his mentor retired 2001, Lewis stepped into the CEO spot. (Time.com)
> BofA-Merrill deal: Analysts raise short-term questions Sep 16, 2008
BofA predecessor NationsBank s acquisition of Montgomery Securities in the late 1990s was a disaster because of a cultural mismatch, says Gary Tenner, who co-manages investment firm Hill Townsend Capital. He believes the principal challenge for BofA will again be cultural. (Charlotte Business Journal, NC)
BOA to buy Merrill Lynch Sep 15, 2008
But a series of acquisitions including New England s Fleet Bank and North-Carolina based NationsBank turned it into a bank with a more national presence. Bank of America has tried many times to build a strong investment bank, pouring hundreds of millions of dollars into the business only to see it underperform. (Atlanta Journal-Constitution)
Bank of America finds opportunity in a crisis Sep 15, 2008
A decade ago, it was known as NationsBank when it bought a much larger institution, the Bank of America, and took its name. In 2003, it took over FleetBoston Financial, widening its branch base, and snapped up MBNA two years later to create the largest American credit card business. (International Herald Tribune)
Bank of America agrees to buy Merrill Lynch Sep 15, 2008
A series of acquisitions including New England's Fleet Bank and then Bank of America's purchase by North-Carolina based NationsBank turned it into a bank with a more national presence. Although the combined company's headquarters moved to Charlotte, it retained the famed Bank of America name. (AZCentral -- News)
A conversation with Kate Carr Aug 24, 2008
I went to Adams, and it basically got me back into community lending, whereas at NationsBank, they had an aversion to risk-based capital. What loan that you've given stands out the most. (Washington Business Journal, DC)
Bank of the San Juans agrees to sale Aug 22, 2008
Chase, who has been in banking all his working life, was at NationsBank in Atlanta before coming to Durango. He was the driving force behind organizing Bank of the San Juans, raising capital, getting regulatory approval and finding a building. (Durango Herald)
> Brokerage in line for sale at Wachovia? Jul 23, 2008
In 1991, Maryland-based MNC Financial spun off its crown jewel, , because it was sufferering huge losses and needed capital (both companies were eventually acquired by Bank of America Corp. and its predecessor, NationsBank Corp.). In 2000, then-First Union CEO Ken Thompson sold the bank s credit card business to MBNA Corp., a decision he later said was necessary but difficult. (Charlotte Business Journal, NC)
A conversation with Mechanics Bank CEO Steve Buster Jul 17, 2008
I had it all lined up, and BofA merged with NationsBank and my whole plan disintegrated. Mentor: My father, Edmond B. Buster. (East Bay Business Times, CA)
> Worst case: Buyout by domestic giant Jun 28, 2008
While a Wells merger would likely give some San Francisco residents a chuckle after watching BankAmerica get gobbled up by NationsBank Corp., analyst Dick Bove believes that Wells is completely disinterested. In the U.S. you ve got Wells Fargo, who should do it, and JP Morgan who shouldn t do it (due to its recent Bear Stearns purchase), he says. (Charlotte Business Journal, NC)
BB&T in the catbird's seat for growth May 24, 2008
At the top of the list were two Charlotte institutions: predecessor and predecessor Under then-chief executive Hugh McColl Jr., NationsBank executed 11 acquisitions and saw its stock price increase 281% during that five-year stretch, and First Union pulled off 29 deals under former chief executive Ed Crutchfield and saw its stock price increase 251% over the same time period. In a speech last week at New York University, BofA Chief Executive Kenneth Lewis said he thought consolidation in the... (Charlotte Business Journal, NC)
At a glance: The leading candidates for US Senate in NC May 4, 2008
CAREER: Hagan worked at NationsBank after law school, but left the job after the birth of her third child. She was first elected to the state Senate in 1998 and has served as one of the state's chief budget-writers for three terms. (The Daily Reflector)
Integrity Bank Announces New Officers Mar 4, 2008
He served as Director for Bank Supervision of the Southeast Region for the OCC, and later spent 15 years in senior management positions with C&S National Bank, NationsBank and Bank of America. Most recently, he served as Chairman, President and Chief Executive Officer of Community Bancshares, Inc. in Blountsville, Alabama, a $650 million bank that he was hired to help turn around following financial problems created by certain members of the bank's prior management team. (Primezone Releases)
Cardtronics Announces Two New Directors Jan 29, 2008
Mr. Arnoult also has significant experience in mergers and acquisitions, having been directly involved in significant transactions such as the mergers of NationsBank and Bank America in 1998 and Bank of America and FleetBoston in 2004. Mr. Arnoult has served on a variety of boards throughout his career, including the board of Visa USA.. (Primezone Releases)
H5 Names Former Bank of America General Counsel to its Advisory Board Jan 23, 2008
NCNB, then NationsBank and now Bank of America, is widely credited with helping to dismantle geographic restrictions on banking. As the bank s general counsel, Mr. Polking was instrumental in enabling its first out-of-state acquisition, which not only triggered 70 additional acquisitions for the bank in the following 20 years, but had significant impact on the financial services industry, leading to the modern day consolidated banking system. (Yahoo News -- Press Releases)
Wells Fargo Century's Pizzo to Retire Jan 17, 2008
After three years at Bankers Trust Corporation, Giannetta began a 14-year tenure in 1987 at Security Pacific Corporation -- a business which would pass to Can, then NationsBank Commercial Corporation, then to Bank of America Commercial Corporation. He is a member of the National Association of Credit Managers and the Commercial Finance Association. (PR Newswire)
Wall Street's Latest $35 Billion Writedown Puts Squeeze on Profits in 2008 Jan 15, 2008
Earnings per share would be 23 cents, the lowest since the Charlotte, North Carolina-based company was formed from the 1998 merger of BankAmerica and NationsBank, according to analysts' estimates. Citigroup was put together the same year through the combination of Travelers Group Inc. and Citicorp. (Bloomberg)
WhittmanHart Consulting names Sullivan CEO Dec 13, 2007
He has previously worked as a managing director for BearingPoint in charge of its risk, finance and compliance solutions units, and as a consultant at Ernst , NationsBank and United Technologies. Mr. Sullivan will commute to Chicago from his Atlanta home. (Crain's Chicago Business)
Enron colleagues: Ethics icon's whistle-blowing claims untrue Oct 13, 2007
One of her tasks that year, she writes in her book, was to summarize a deal struck by the company in December 1997 through which Enron would receive an indirect loan for $229 million from NationsBank, which has since merged with Bank of America. To pay back the loan, Enron and its subsidiaries promised to assign 80 billion cubic feet of natural gas from its Bammel storage field in Texas to a trust representing the bank, for net proceeds of $232 million. (USA Today -- Money)
Former Bank of Americ exec leads Sprint Nextel Oct 10, 2007
Former BofA Chief Executive Hugh McColl Jr. called him the father of the $66 billion merger of NationsBank Corp. and BankAmerica Corp. that created the BofA.. Bank of America is Greater Baltimore's largest bank. (Baltimore Business Journal, MD)
Former BofA exec leads Sprint Nextel Oct 10, 2007
Former BofA Chief Executive Hugh McColl Jr. called him the father of the $66 billion merger of NationsBank Corp. and BankAmerica Corp. that created the BofA.. While at BofA, Hance oversaw the corporate and investment bank, principal investing, treasury management services, and technology and operations. (Charlotte Business Journal, NC)
Rescuing the Rock Oct 7, 2007
At 31 he became one of Goldman s youngest-ever partners and advised on a string of giant financial-serv-ices deals, including Bank of America s $46 billion tie-up with NationsBank. His success has built him an estimated $1. (Times Online)
Westwind forges a merger with Weisel Oct 1, 2007
2-billion in 1997 to NationsBank, now part of Bank of America. And true to form, they chose cycling names for their respective merger teams: Westwind called its 7-11, while Weisel named its initiative Postal. (Globe and Mail -- Business)
Community Says: Federal Reserve Failing the Public by Failing to Hold Hearing on BofA and LaSalle Merger Sep 14, 2007
In the past, the Federal Reserve has held hearings on the mergers of JP Morgan Chase and Bank One, Bank of America and Fleet Boston, Fleet Financial and BankBoston, First Chicago and Banc One, and Bank of America and NationsBank. In every one of those mergers, the new combined entity represented the largest financial institution in at least one of the combined entity's local markets. (PR Newswire)
Column: Leonard Archer, CNB were synonymous with Charleston for years Sep 8, 2007
It later became NationsBank and now is Bank of America. But the old building at the corner of Sixth and Monroe also no longer exists. (Mattoon Journal-Gazette, IL)
BofA takes Countrywide stake Aug 23, 2007
"Analyst Nancy Bush of NAB Research called the move an "opportunistic investment" that would please regulators worried about the mortgage market. But she speculated that it could turn into an outright purchase.The deal reminded her of Bank of America predecessor NationsBank Corp.'s investment in Baltimore-based MNC Financial Inc. in 1992. Under that deal, NationsBank put $200 million into MNC, which was struggling with bad real estate loans.Less than a year later, it exercised an option to buy... (Charlotte Observer)
East Coast banks expand reach Aug 23, 2007
San Francisco-based Bank of America was acquired by NationsBank, also of Charlotte, in 1998. Citibank burst onto the California scene in 2002 with the acquisition of Cal Fed and its locations in Sun City, Temecula and Vista. (North County Times)
BofA strengthens focus on California market Aug 20, 2007
It's the first time the position has been based in San Francisco since the 1998 merger between San Francisco-based BankAmerica and NationsBank of Charlotte, N.C., which took the bank's name and headquarters back East. The top brass in Charlotte may be puzzled by the perception among some that California's largest bank is ignoring the Bay Area, given the bank's dominant market share, large employee base and strong philanthropic activity in the region. (San Francisco Business Times, CA)
Retail banking giant will remake private bank Jun 18, 2007
Over the last decade, Bank of America has been very successful in smoothly melding a lot of disparate operations, notably the mammoth acquisition in 1998 in which NationsBank bought Bank of America and adopted its name, and more recently, the absorption of the regional banking giant FleetBoston and of the credit card behemoth MBNA. So far, though, the merger of its services with those of U.S. Trust has been turbulent. In trying to capitalize on the boom in global wealth, the new division of Bank... (International Herald Tribune -- Business Asia)
Minority kids learn good money habits Jun 5, 2007
Working with NationsBank, which later became Bank of America, Good Choices set up banking branches in eight local churches and had children in the program run them as tellers and bank executives. The church-based banks initially taught saving and investing, financial planning, credit and budget management and wealth-building. (Atlanta Journal-Constitution -- Metro)
Wachovia's growth focused on California following Golden West acquisition May 5, 2007
Bank of America, created in large part by a series of mergers, was born when NationsBank acquired then San Francisco-based BankAmerica Corp. in 1998. As of June 2006, Bank of America has nearly 1,000 branches and roughly 21 percent of California customers' deposits. (North County Times)
Hugh M. Chapman, bank exec, dies at 74 May 2, 2007
He served as president of Citizens ern Corp. and later as chairman of NationsBank South from 1992 to 1997, when he retired from the bank ... Payne and Chapman also worked together for a short time at NationsBank, and then they both became deeply involved with the East Lake Foundation, which Chapman chaired, and Augusta National Golf Club, where Payne now serves as chairman. (Atlanta Journal-Constitution)
Bourne & Co. sells M&A formula Apr 15, 2007
"It's a system whose time has come because these banks are losing customers to NationsBank and other big banks that are offering these services," Bourne says. Pages: 1. (Charlotte Business Journal, NC)
Investing: Merger mania as a malady Apr 14, 2007
Mergers that work best often involve two similar businesses that try to achieve economies of scale and added commercial clout, like Exxon and Mobil, Nationsbank and Bank of America and Procter & Gamble and Gillette. Another common rationale is to create more profit opportunities by merging companies that seem to be two sides of a coin, usually a business that sells one type of content and a second that distributes it. (International Herald Tribune -- Money Report)
U.S. Trust CEO to step down amid culture clash with BofA Apr 5, 2007
The culture clash between U.S. Trust and BofA is reminiscent of the rocky merger integration between San Francisco's BankAmerica and Charlotte's NationsBank almost a decade ago. Scaturro apparently chafed at BofA's efforts to integrate U.S. Trust into the larger bank. (San Jose Business Journal, CA)
Seder celebration is a central part of the Passover ritual Mar 28, 2007
He then worked at the NationsBank headquarters in Miami as a pastry chef and in their garde-manger (the pantry), where cold food is prepared. When he moved to Jacksonville, he established Adam's Garden of Eatin. (Florida Times-Union)
Wells Fargo CEO banks on success as a one-stop shop Mar 26, 2007
" Laying off the layoffs Kovacevich's system took root at Norwest, even as he grew the bank through numerous acquisitions of other banks in the region. In 1993, he was named CEO. In 1998, a year in which some of the biggest mergers in the history of U.S. banking took place Citicorp merged with Travelers to form Citigroup, and NationsBank merged with Bank of America Kovacevich made his own move: Norwest merged with Wells Fargo. Investors, including Buffett, didn't like the deal initially. While... (USA Today -- Money)
D.E. Shaw's Second Marriage Mar 14, 2007
But one year later, as Bank of America was finalizing its merger with Charlotte-based NationsBank, everything blew up ... The fund survived, but the bank was forced to take a $372 million write-down, and the episode cost former Bank of America Chief Executive David Coulter his job at the combined Bank of America-NationsBank. (Forbes)
Glass ceiling hangs low in corporate Arizona Mar 4, 2007
She left Bank of America in 1998 when the Southwest headquarters was moved to Dallas after the bank merged with NationsBank of Charlotte, N.C.. "I found corporate opportunities limited, so I decided to get involved with private equity and do something completely different," she said. (AZCentral -- News)
$1 million gift to help MLK archive Feb 16, 2007
Bank of America and its predecessor companies (Citizens ern National Bank and NationsBank) also donated two key buildings to Georgia State. Lewis said Thursday that corporate philanthropy is enlightened self-interest for companies, including his. (Atlanta Journal-Constitution)
Citigroup becoming Citi Feb 14, 2007
Bank of America is the straightforward successor name to NationsBank. JPMorgan Chase combines the names of financier J. Pierpont Morgan with Salmon Chase, a treasury secretary under Abraham Lincoln. (USA Today -- Money)
STRICTLY COMMERCIAL Jan 23, 2007
Banc of America Securities was formed after the $64 billion merger between BankAmerica and NationsBank in 1998. Part of the deal was the acquisition of Montgomery Securities by NationsBank in 1997. (San Francisco Chronicle -- Business)
A Native Son Jan 10, 2007
There's an item called the NationsBank Orioles Batting Helmet Bank, and there's the highly prized Mid-Atlantic Milk Marketing Cal Ripken Growth Poster. They are all a stylistic match for the graphics on the scoreboard that tell you when to clap or the shlub whose bodily fluids are draining into his fake-fur Bird Suit while he dances on the dugouts for reasons known only to him. (SportsIllustrated.CNN -- MLB)
Jenkens & Gilchrist Appoints New Chairman, Closes Two Offices Jan 5, 2007
Mitchell says the D.C. office opened in the early 1990s initially to do loan workouts for NationsBank Corp. (now Bank of America), but dwindled to fewer than 10 lawyers over the past four or five years. "It had grown to an unmanageable small size for purposes of continuing it as a full-fledged office," Mitchell says, noting that the lease is also up in 2007. (Law.com)
Sink Pledges To Keep Politics Out Of Finances Jan 3, 2007
" On that score, Sink may have an ally in Republican Gov. Charlie Crist, whom she complimented for disavowing partisan bickering in his inauguration address. Crist gave her the public nod by promising at the inauguration to work with her to solve the state's property insurance crisis. But depoliticizing has its limits. Sink's declared priority to scrutinize and investigate state outsourcing "smacks a bit of partisanship," given the emphasis that former Gov. Jeb Bush and other Republicans have... (Tampa Bay Online, FL -- News)
