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Encyclopedia > Barnett Bank

Barnett Bank, founded in 1877, eventually became the largest commercial bank in Florida. It was purchased by NationsBank in 1997, but even before signs on Barnett's branches were changed, NationsBank was absorbed in a merger with BankAmerica Corp., creating Bank of America. Therefore, the green logo on Barnett properties, including its 42-story headquarters in Jacksonville, was changed to the psuedo-flag logo of Bank of America. 1877 (MDCCCLXXVII) was a common year starting on Monday (see link for calendar). ... A commercial bank is a type of financial intermediary and a type of bank. ... This article or section does not cite its references or sources. ... NationsBank was a large banking corporation in the United States, based in Charlotte, North Carolina. ... 1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ... Bank of America (BofA) NYSE: BAC, based in Charlotte, North Carolina, is the third largest commercial bank in the United States of America, measured in assets. ... This article or section may be confusing or unclear for some readers, and should be edited to rectify this. ... The Jacksonville skyline and the Acosta Bridge. ...


Barnett Bank was founded by Bion Barnett and his father, William Boyd Barnett. The bank survived various economic downturns and crises, including the Great Depression, ultimately emerging stronger. Its headquarters, build during the Roaring 20s, was for many years the tallest building in Jacksonville. When Barnett died in 1958, at the age of 101, Barnett Bank had come to be known as "Florida's Bank". The bank continued to grow with the acqusition of many more Florida banks over the next two decades. The Great Depression was a worldwide economic downturn which started in 1929 (although its effects were not fully felt until late 1930) and lasted through most of the 1930s. ...


However, Barnett Bank was slow to become involved in the rapidly-evolving interstate banking mergers of the 1970s and 80s. Though eventually Barnett did make some purchases of out-of-state banks, starting in Georgia, it did so without growing its own brand recognition. While technically, according to federal statute, one bank cannot own another bank in another state, they can both be owned by the same holding company. Barnett, like other banks, grew across state lines in this way. But unlike other such banks, Barnett did not change the names of its new holdings, keeping the Barnett name exclusively within Florida. Ultimately, this weakened the company's stock, as the perception lingered that Barnett was not a major player in the area of mergers and acquisitions. The 1970s decade refers to the years from 1970 to 1979, inclusive. ... The examples and perspective in this article or section may not represent a worldwide view. ... This article is about brands in marketing. ... A holding company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors. ... It has been suggested that shareholder be merged into this article or section. ... This page deals with the combination of two companies into one. ...


Despite its slower than average growth, in 1987, the company announced plans to build a new corporate headquarters building in downtown Jacksonville. At 42 stories, the Barnett Tower would be the highest building in Jacksonville, and the second-tallest in Florida. The company moved into its new headquarters in 1993. In 1997, Barnett CEO Charles Rice, who had recently completed rehabilitation for alcoholism, offered the company up for sale. Charlotte-based NationsBank made the highest offer, and the deal was done. Rice, who had pubically stated more than a decade earlier that he would never sell Bion Barnett's bank to any of its competitors, received a position with the new entity as its number two executive. However, less than a year later, NationsBank was no more, due to the Bank of America merger, and Rice was forced to retire. It has been suggested that this article or section be merged into Central business district. ... Alcoholism is the consumption of, or preoccupation with, alcoholic beverages to the extent that this behavior interferes with the drinkers normal personal, family, social, or work life, and may lead to physical or mental harm. ... Charlotte (also known as candle stick) is a figure skating grace move - one of the spirals, where the skater is bended and glides on its one leg with the other one lifted to the air. ...


As of 2006, the reinforced concrete Barnett Tower (now, the Bank of America Tower) remains the tallest building in Jacksonville. Reinforced concrete at Sainte Jeanne dArc Church (Nice, France): architect Jacques Dror, 1926–1933 Reinforced concrete, also called ferroconcrete in some countries, is concrete in which reinforcement bars (rebars) or fibers have been incorporated to strengthen the material that would otherwise be brittle. ...


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