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BUSINESS
By David Conn and David Conn,Sun Staff Writer | March 12, 1994
NationsBank Corp., which has kept mum about its branch closing plans, inadvertently let some information slip when it filed notice with federal regulators of its intention to close seven Maryland branches.A weekly bulletin issued by the federal Office of the Comptroller of the Currency lists NationsBank's advance notice that it will close branches in the Baltimore area, the Eastern Shore and the Washington area. Those branches will close no sooner than 90 days from now, probably closer to 120 days, NationsBank spokesman Daniel Finney said.
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BUSINESS
By Bloomberg Business News | July 30, 1994
NEW YORK -- Three former NationsBank Corp. brokers in Florida have filed an arbitration claim against the company's brokerage units, alleging use of misleading sales practices.The three allege they were forced out of their jobs after objecting to the sales practices, which they say deceptively touted securities as safer bank products. They are seeking a total of $560 million in damages on their claims.Charlotte, N.C.-based NationsBank, the fifth-biggest bank company in the country, didn't respond to a request for comment yesterday.
BUSINESS
By David Conn and David Conn,Staff Writer | April 9, 1993
Top executives of NationsBank Corp. came to Baltimore yesterday, armed with charts, graphs and statistics, all aimed at proving two main points: that the Charlotte, N.C.-based banking company, soon to be Maryland's largest, is good for stockholders and good for the community.The company held a breakfast meeting at the Cross Keys Inn to present the 1992 results of its community investment programs in the Baltimore area and Maryland. The presentation to civic activists was part of a 29-city tour, called Report to Communities, that the company launched this month to review its community lending programs in most of its larger markets.
BUSINESS
By KNIGHT-RIDDER NEWS SERVICE | April 3, 1997
CHARLOTTE, N.C. -- NationsBank is the first bank to request new powers under an expanded regulation of the Office of the Comptroller of the Currency.The Charlotte bank's two applications last week will be the first test of a revised OCC rule that allows banks, on a case-by-case basis, to do things that previously were forbidden.Some bankers have speculated that the comptroller's office, which regulates national banks, eventually could approve applications by banks to underwrite insurance and securities.
BUSINESS
By Bloomberg Business News | November 24, 1994
DALLAS -- NationsBank Corp., fighting a suit claiming the bank company used ill-gotten information to buy the operations of First RepublicBank Corp., must face a jury trial, a Texas appeals court ruled.The suit, filed in a Dallas state court in June 1992, alleges that NationsBank's predecessor, NCNB Corp., and Chairman and Chief Executive Hugh McColl Jr. unlawfully obtained the acquisition plan to be used by Lone Star Partners in its attempt to buy the insolvent bank subsidiaries of Dallas-based First RepublicBank.
BUSINESS
By David Conn and David Conn,Staff Writer | April 20, 1993
Generally meeting Wall Street's expectations, NationsBank Corp. of Charlotte, N.C., reported sharply higher first-quarter earnings yesterday.The results were clouded, however, by significant one-time events that did not reflect the company's core operations. The current period included a large gain from an accounting change, while the year-ago quarter included an equally large gain from the sale of securities.For the three months ended March 31, the company said it earned $481 million, or $1.89 a share, compared with $310 million, or $1.28 a share.
BUSINESS
By David Conn and David Conn,Sun Staff Writer | April 18, 1995
Continued economic strength in the South pushed NationsBank Corp.'s earnings higher in the first quarter, but signs of a slowdown in the Northeast dampened profit growth at First Fidelity Bancorp.Both companies exceeded Wall Street's expectations, and joined a cadre of major regional banks that reported strong earnings yesterday, including First Chicago Corp., Bank of New York Co. and First Interstate Bancorp. Only Chase Manhattan Corp., the nation's sixth-largest banking company, saw earnings decline in the quarter from a year earlier.
BUSINESS
By David Conn and David Conn,NationsBank Corp.Sun Staff Writer | October 23, 1994
Now the branch signs are changed. Now the ATMs sport the NationsBank logo, instead of Maryland National's. And now the operators have stopped greeting callers with, "Maryland National-soon-to-be-NationsBank, may I help you?"A year after its parent was purchased by the Charlotte, N.C., banking company, Maryland National Bank is now NationsBank.The company has become part of the nation's fourth-largest bank, an institution that has grown phenomenally in the past five years based on two driving forces: a strategy, borrowed from the fast-food industry, of efficiency through nationwide standardization; and the ego and vision of the company's chairman, Hugh L. McColl Jr.But despite a statewide advertising campaign launched this month, many Marylanders can be forgiven for wondering what all the fuss is about.
BUSINESS
By BLOOMBERG BUSINESS NEWS | October 5, 1995
CHARLOTTE, N.C. -- NationsBank Corp. said yesterday it will probably buy at least 25 percent of Gartmore PLC, taking advantage of Banque Indosuez's decision to sell its 75 percent stake in the London-based investment management firm.NationsBank is a 50-50 joint-venture partner of Gartmore in the ownership of Nations Gartmore, which combines Gartmore's international asset management capabilities with NationsBank's ability to target U.S. customers.When it formed the joint venture earlier this year, NationsBank took an option to buy up to 25 percent of Gartmore if Banque Indosuez sold its controlling stake.
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