Fact Friday 238 - Commercial National Bank
Happy Friday!
The Commercial National Bank of Charlotte was chartered on February 18, 1874. Over the past 140+ years (and several name changes), it has played a key role funding the city’s growth and development, helping to create the Charlotte we know today.
The bank was created to fund the city’s fledgling textile industries in the late 1800s, and helped Charlotte grow into a major center of textile manufacturing at the start of the 20th century. Nearly one hundred years later, the bank, then called NationsBank, became one of the largest banks in the world when it acquired Bank of America in 1998 and led to Charlotte’s status today as the second biggest financial center in the U.S.
North Carolina National Bank (NCNB) advertisement, 1967. From “Charlotte and Mecklenburg County, North Carolina today” by LeGette Blythe, page 52.
To read more about Charlotte's early banking history, click here.
Until next week!
Chris.
Email me at chris@704shop.com if you have interesting Charlotte facts you’d like to share or just to provide feedback!
Information taken from:
UNC Charlotte Special Collections on Instagram - @unccspeccoll
“We have to do with the past only as we can make it useful to the present and the future.” – Frederick Douglass