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Topic: NationsBank


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  NationsBank-   (Site not responding. Last check: 2007-10-08)
The merger of NationsBank, based in Charlotte, N.C., with the St. Louis, Mo.-based Boatmen's, forges a $228 billion giant in 16 states.
The merger was announced Aug. 29 and is expected to conclude in January.
NationsBank said the newly combined company will be expected to earn nearly $3 billion in 1997.
www.lubbockonline.com /news/121796/nationsb.htm   (373 words)

  
 Herman v. Nationsbank Trust Co.
NationsBank argues that participants in the Polaroid ESOP are named fiduciaries with respect to the tendering of all shares held by the ESOP, making NationsBank merely a directed trustee with regard to the tendering of ESOP shares, subject only to § 1103(a)(1)'s commands to follow plan provisions that are not contrary to ERISA.
She agrees with NationsBank that if a trustee follows participants' explicit directions regarding allocated shares, the trustee's conduct with respect to those shares is judged only by whether it is "in accordance with the plan terms," as well as "not being contrary to the provisions of ERISA."See footnote 7 Id.
NationsBank's conduct with regard to those shares was not governed by § 1104(a)(1), and NationsBank was not required to exercise its independent judgment in deciding how and whether to tender those shares.
pub.bna.com /lw/19971118/958934.htm   (9218 words)

  
  No. 97-1899: NationsBank v. Herman - Opposition
The Secretary also stated her view that NationsBank was responsible for deciding the prudence of tendering the allocated shares for which the trustee received no voting instructions from plan participants.
Because NationsBank's tender option notice did not inform the ESOP participants that the voting of their shares would control the voting of the unallocated shares, the court concluded that plan participants did not meet the definition of fiduciary, and consequently could not be "named fiduciaries" under 29 U.S.C. 1103(a)(1).
In agreeing with NationsBank that it acted as a directed trustee with respect to the allocated unvoted shares, the court of appeals concluded that "Nations- Bank was not required to exercise its independent judgment in deciding how and whether to tender those shares." Pet.
www.usdoj.gov /osg/briefs/1997/0responses/97-1899.resp.opp.html   (2736 words)

  
 NationsBank - Wikipedia, the free encyclopedia
NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina.
NationsBank in 1991 after acquiring Atlanta-based CandS/Sovran Corp. Following the merger, the Bank's assets grew to $118 billion.
With this merger, all of NationsBank's holdings, including some of the tallest buildings in the nation (like Bank of America Plaza in Atlanta and the Bank of America Corporate Center in Charlotte) took Bank of America's name.
en.wikipedia.org /wiki/NationsBank   (335 words)

  
 NationsBank to pay $7 million to settle investor fraud charges   (Site not responding. Last check: 2007-10-08)
WASHINGTON (AP) -- Financial titan NationsBank Corp. is paying $6.75 million to settle federal regulators' charges that it misled investors about the risks of government bond funds, telling some that the securities are as safe as insured certificates of deposit.
NationsBank, the third-largest U.S. bank with $315 billion in assets, has stretched far beyond its roots in the Southeast by snapping up other financial institutions in recent years.
NationsBank, based in Charlotte, N.C., said in a statement it "regrets that some of our customers were dissatisfied with their experience" with the bond funds sold between mid-1993 and early 1994.
www.chron.com /content/chronicle/biz/98/05/05/nationsbank.2-0.html   (411 words)

  
 NationsBank Lives Up To Its Name   (Site not responding. Last check: 2007-10-08)
After NationsBank was formed more than five years ago from the merger of NCNB Corp. and C&S/Sovran, the financial institution truly lived up to its name.
Among its numerous acquisitions, NationsBank bought Maryland National Bank in Baltimore in 1993, BankSouth in Atlanta in 1996 and Boatmen's Bank in St. Louis earlier this year.
Among American banks, NationsBank is the fourth largest with $239 billion in assets, surpassed only by Citicorp, Chase Manhattan and Bank of America.
www.greensboro.com /97top50/nations.htm   (365 words)

  
 Nashville Tornadoes Test NationsBank
NationsBank used Computerm VMC™ (Virtual Mainframe Channel™) 8100 series channel extenders to connect its mainframe in Baltimore to the IBM 3890 check sorters, IBM 4245 printers, and IBM 3274 CRT controllers in Nashville via a 512 frame forwarding data connection.
Shortly after NationsBank Nashville facilities were damaged by the highly destructive tornadoes that swept through the downtown area, we declared a disaster to Comdisco and had the opportunity to test the reliability of our contingency plan.
NationsBank was able to validate the importance of a thorough disaster recovery plan when the tornadoes came through Nashville on April 16.
www.drj.com /articles/sum99/wall.htm   (962 words)

  
 Group asks for delay of merger between NationsBank and Bank of America, citing record in low income and minority ...
NationsBank and Bank of America are two of the state’s largest financial institutions.
NationsBank of Texas, NA is the state’s largest bank, with $60 billion in assets and 20 percent of all insured deposits last year.
Despite its size, NationsBank is a relatively small player in the Texas single family home mortgage market, with between 1 to 3 percent of home loans in some areas.
www.consumersunion.org /finance/tcrbofasw698.htm   (674 words)

  
 AICPA Business and Industry
NationsBank has had a number of large acquisitions in its history and the internal audit department has played a significant role in the larger mergers since 1989.
Eventually, NationsBank's internal audit department found its role shifting from a traditional one of assessing the adequacy of existing controls to that of a management adviser charged with developing new process flows and controls in the redesigned operation as well as gathering and reporting key performance information and monitoring operations stability during the transition.
NationsBank held dress rehearsals to make sure the system integrations or conversions would be transparent to customers and that employees were prepared to deal with customers and transaction flows in the new environment.
www.aicpa.org /pubs/jofa/apr98/trampe.htm   (2197 words)

  
 08/18/97 WILLIAM RUNNEBAUM, Plain v. NATIONSBANK OF MARYLAND,
The district court, in granting NationsBank's motion for summary judgment, determined that Runnebaum failed to present evidence sufficient to create a genuine issue with respect to any material fact, and that NationsBank was entitled to judgement as a matter of law.
NationsBank contends that Runnebaum, who was asymptomatic at all times relevant to this case, failed to establish that asymptomatic HIV infection is a disability under the statute.*fn4 The Equal Employment Opportunity Commission (EEOC) and the Whitman-Walker Clinic, Inc., appearing as amicus curiae, contend that asymptomatic HIV infection is a disability per se under the statute.
NationsBank moved for summary judgment claiming that it fired Runnebaum because of his performance rather than his disease, and the district court granted summary judgement on this theory.
www.aegis.com /law/fedapp/4D/1997/1997C041891.html   (16760 words)

  
 NationsBank denies Dallas holdings were moved to circumvent merger rules
NationsBank executives defend the move as proper and say it won't have any effect on lending in Texas because the money transferred to North Carolina wasn't from typical customer deposits and was never used as a basis for loans.
NationsBank officials say the deposits were solely related to a real estate investment trust and a national corporate cash-management product.
NationsBank's share of deposits at federally insured institutions in Texas was 21 percent at the end of March, up from from 14.1 percent in December 1992.
www.texnews.com /1998/biz/nat0616.html   (1103 words)

  
 FRB: Press Release -- Approval of application of NationsBank Corporation and NB Holdings Corporation -- May 12, 1997
NationsBank, with total consolidated assets of approximately $226 billion, is the fourth largest commercial banking organization in the United States, controlling approximately 5.5 percent of total banking assets of insured commercial banks ("total banking assets").
NationsBank eventually will be required to distribute the trusts' assets, over which it temporarily holds legal title, to the descendants of the current beneficiaries of the trusts.
NationsBank would be the 17th largest commercial banking organization, controlling deposits of approximately $1 billion, representing less than 1 percent of the total deposits in commercial banking organizations in the state.
www.federalreserve.gov /BoardDocs/press/bhc/1997/19970512   (1238 words)

  
 Comments on NationsBank/Bank of America Merger Application
NationsBank and Bank of America have met twice with CRC on these issues since the merger was announced, and it appears likely that a written commitment may be made on some, but not all, of these issues.
Since NationsBank and Bank of America are presently two of the largest financial institutions in the nation, their current level of performance in community lending should serve as a good indicator of the merged bank’s potential to meet the credit needs of underserved communities.
NationsBank and Bank of America have been inconsistent in their CRA lending to low income and minority communities in Texas.
www.consumersunion.org /finance/bofacommentswc698.htm   (5849 words)

  
 NationsBank Information
NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina.
NationsBank in 1991 after acquiring Atlanta-based CandS/Sovran Corp. Following the merger, the Bank's assets grew to $118 billion.
With this merger, all of NationsBank's holdings, including some of the tallest buildings in the nation (like Bank of America Plaza in Atlanta and the Bank of America Corporate Center in Charlotte) took Bank of America's name.
www.bookrags.com /NationsBank_Corp.   (321 words)

  
 12/05/96 WILLIAM RUNNEBAUM, v. NATIONSBANK OF MARYLAND,
Brown, NationsBank's senior trust officer in Baltimore, sent Runnebaum a handwritten "note of thanks and congratulations" on October 29, 1992, for planning the bank's reception for a major client referral source, a law firm.
Michael Brown, NationsBank's Senior Managing Officer in Baltimore, and David Kutch, another of Runnebaum's supervisors, testified that Runnebaum's professional career was plagued by unexplained absenteeism, tardiness, and lengthy lunch periods.
Provided NationsBank satisfies this burden, "the McDonnell Douglas paradigm of presumption created by establishing a prima facie case `drops from the case,' and `the factual inquiry proceeds to a new level of specificity,'" Jiminez v.
www.aegis.com /law/fedapp/4D/1996/1996C042567.html   (11600 words)

  
 NationsBank Classes Brief Opposing Koehler Oetting Appeal   (Site not responding. Last check: 2007-10-08)
Wines determined that 5.7% of NationsBank shares were held by its officers and directors or its ESOP, all of whom were likely to vote for the merger under any of plaintiffs' damages scenarios.
The NationsBank Classes deemed it critical to keep the BankAmerica Classes' merger of equals claims away from their case at trial -- while the defendants viewed it as equally critical to have all of the cases tried together, so that the conflicting claims could destroy or at least undermine each other.
In securing such a large settlement for the NationsBank plaintiffs in the face of the great risks in proceeding to trial, the Court finds that NationsBank class counsel succeeded in their duty and met their objective in agreeing to the proposed settlement agreement.
www.bankofamericasettlement.com /nb-brief-ko.html   (13729 words)

  
 Justice Dept. approves NationsBank purchase of Barnett
NationsBank, a $240 billion bank based in Charlotte, N.C., was more than happy to comply with the requests.
NationsBank shareholders meet on Dec. 19 to vote on the deal.
NationsBank, which trades under the symbol NB on the New York Stock Exchange, rose 75 cents to $73.75.
www.texnews.com /biz97/bank121097.html   (910 words)

  
 First Financial Management Corporation and NationsBank Announce Merchant Credit Card Venture Business Wire - Find ...
NationsBank is the fourth-largest banking company in the United States with $170 billion in assets and full-service banking offices in nine states and the District of Columbia.
NationsBank was the first company to sign on as a partner with the 1996 Olympic Summer Games in Atlanta.
NationsBank continues to promote its sponsorship of the 1996 Centennial Olympic Games in Atlanta through support for aspiring Olympic athletes in the communities where NationsBank does business and by bringing the spirit of the Olympic games to those communities.
www.findarticles.com /p/articles/mi_m0EIN/is_1995_April_3/ai_16749042   (605 words)

  
 Dean Witter/Discover and Nationsbank - Case #: 96-593-CIV-T-25E - JURY TRIAL DEMANDED
NationsBank of North Carolina, at all times material, was a national banking association with its principal place of business in North Carolina and is directly or indirectly a wholly-owned subsidiary of NationsBank Corporation.
NationsBank Corporation and its banking subsidiaries knew that bank customers, including the Plaintiff, who were thus solicited would automatically assume the broker to be an employee of the subsidiary bank.
NationsBank Corporation and its banking subsidiaries told bank employees to watch for, and refer to brokers, bank customers with large cash deposits in their checking or savings accounts, or with large amounts invested in CD's; or who made remarks about low interest rates, high taxes, or estate planning; or who asked about bank IRA products.
securities.stanford.edu /1004/DWD96/001.html   (8461 words)

  
 FRB: Press Release -- Approval of notice of NationsBank Corporation -- September 10, 1997
NationsBank, with total consolidated assets of $239 billion, is the fourth largest commercial banking organization in the United States.
NationsBank proposes to merge Montgomery with and into NCMI, a subsidiary of NationsBank that engages in a wide range of securities activities, including engaging to a limited extent in underwriting and dealing in all types of debt and equity securities in which a state member bank may not underwrite or deal ("bank-ineligible securities").
NationsBank has committed that, following the acquisition of Montgomery, NMSI will continue to conduct its bank-ineligible underwriting and dealing activities subject to the 25-percent revenue limitation and the prudential limitations previously established by the Board with respect to bank-ineligible securities underwriting and dealing.
www.federalreserve.gov /BOARDDOCS/PRESS/bhc/1997/19970910   (2461 words)

  
 LOAN REJECTIONS FOR BLACKS INCREASE AT NATIONSBANK
NationsBank, the region's largest bank, also disclosed this week that its lending in low- and moderate-income neighborhoods of South Hampton Roads plunged 42 percent last year.
William L. Rueger, NationsBank senior banking executive in South Hampton Roads, said he was surprised by the growing disparity in rejection rates for home-loan applicants because the bank had stepped up its efforts to reach prospective borrowers in the African-American community.
NationsBank's annual lending report evolved from the company's promise to lend $10 billion over 10 years to members of minority groups and to neighborhoods that had not been adequately served by banks.
scholar.lib.vt.edu /VA-news/VA-Pilot/issues/1994/940616/06160484.htm   (879 words)

  
 Nations Bank to pay $9 million to settle suit over check-cashing policies
About 1.4 million current and former checking account customers of NationsBank may be eligible for a refund of up to $50 for bounced check and overdraft charges under a tentative lawsuit settlement.
In June of this year, NationsBank agreed to settle a 2-year-old class action suit relating to its "biggest-first" check-processing policy, which results in a larger number of bounced check fees for the bank.
Bank of America, which took over NationsBank in a 1998 merger, continues to process checks from highest to lowest amount because, Bank of America spokesman Gordon Turner says, "Our experience and what our customers have told us is that they prefer for us to place priority on their largest checks.
www.bankrate.com /brm/news/chk/19991110.asp   (862 words)

  
 Bank of America - Wikipedia, the free encyclopedia
The purchase of BankAmerica Corp. by the NationsBank Corporation was the largest bank acquisition in history at that time.
While the deal was technically a purchase of BankAmerica Corporation by NationsBank, with the renaming of the former entity to Bank of America Corporation, the deal was structured as a merger, and Bank of America NTandSA, changing its name to Bank of America, N.A. was the remaining legal bank entity.
Following the $64.8 billion acquisition of BankAmerica by NationsBank, the resulting Bank of America had combined assets of $570 billion, and 4,800 branches in 22 states.
en.wikipedia.org /wiki/Bank_of_America   (4806 words)

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