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Archive for Tuesday, July 27, 1999

NATIONSBANK READY FOR NEW NAME

July 27, 1999

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NationsBank is about to become Bank of America, but customers won't feel a thing.

That's because the shift is more of a makeover than a restructuring, said Pat Michaelis, NationsBank's market president for Topeka and Lawrence.

"We're just changing bank names and signs," said Michaelis, who's been busy preparing for Monday's name change. "We're changing the letterhead, and statements will say 'Bank of America' versus 'NationsBank.' That's all."

Customers at Lawrence's lone NationsBank branch, 900 Ohio, will still be able to use the same checks, credit cards, loan payment slips and everything else emblazoned with the NationsBank name. Account numbers also will remain unchanged.

That's because NationsBank will remain the same bank, albeit under a new name.

As part of the merger, Bank of America Corp. -- based in San Francisco, with branches mostly on the West Coast -- becomes part of the NationsBank Corp. system, based in Charlotte, N.C.

The reason for the name change is simple, Michaelis said: NationsBank is just 8 years old; Bank of America is 76 years old.

"Bank of America is a powerful name for any company, and obviously for a bank," Michaelis said. "It was selected because it had the best market value."

The changeover began in April for banks in Texas and New Mexico; the change takes effect Monday in Kansas.

The new Bank of America Corp., with $614 billion in total assets, is the largest bank in the United States with full-service operations in 22 states and the District of Columbia. It provides financial products and services to 30 million households and 2 million businesses, as well as international corporate financial services for business transactions in 190 countries.

-- Mark Fagan's phone message number is 832-7188. His e-mail address is mfagan@ljworld.com.

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