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NationsBank was a large banking corporation in the United States, based in Charlotte, North Carolina.
Commercial National Bank (CNB), the earliest forerunner of NationsBank (Now Bank of America), opened for business in Charlotte in 1874.
In 1957, CNB's total assets climbed to $234 million after the company acquired Charlotte-based American Trust Company, forming American Commercial Bank (ACB). ACB changed its name to North Carolina National Bank (NCNB) in 1960 after acquiring of Charlotte-based Security National Bank.
NCNB expanded beyond North Carolina for the first time in 1982, when it purchased Lake City, Florida-based First National Bank of Lake City, its first interstate expansion. Hugh McColl becames CEO of NCNB the following year.
In 1988, NCNB's assets grew to $60 billion ($60,000,000,000) after it bought the failed First RepublicBank of Dallas, Texas from the FDIC. NCNB's name was subsequently changed to NCNB Corporation.
NCNB became NationsBank in 1991 after acquiring Atlanta, Georgia-based C&S/Sovran Corp. NationsBank's assets grew to $118 billion following the merger.
In 1996, NationsBank acquired Saint Louis, Missouri-based Boatmen's Bancshares 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.
The following year, NationsBank acquired Florida's largest bank, Jacksonville-based Barnett Bank, for $15.5 billion, growing the company's total assets to $284 billion.
In 2000, it merged with Bank of America,San Francisco, California, and the whole unit took on the name of Bank of America. With this merger, all of NationsBank's holdings, including some of the tallest buildings in the country (like Bank of America Plaza in Atlanta and Bank of America Corporate Center in Charlotte) took Bank of America's name. Headquarters for the new enterprise were established in Charlotte, North Carolina.
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