Title : Central Carolina Bank And Trust - Carolina Bank
Central Carolina Bank And Trust - Carolina Bank
Central Carolina Bank and Trust (CCB) was a bank headquartered in Durham, North Carolina. It started in 1961 with the merger of Durham Bank & Trust and University National Bank of Chapel Hill, North Carolina. CCB converged with SunTrust Banks of Atlanta, Georgia in 2005. Its central command was the memorable 17-story Hill Building.
History
CCB, Central Carolina Bank - Another TV commercial I wrote, back when bank still did TV commercials. Now, they just tweet. Sigh...
In 1899, lawyer John Sprunt Hill wedded Annie Louise Watts, little girl of George Washington Watts, prime supporter of the American Tobacco Company. Watts and Hill began Durham Loan & Trust Company and Home Savings Bank. Slope served as president and director of both banks. In 1931, Durham Loan & Trust got to be Durham Bank & Trust. Home Savings Bank and Durham Bank & Trust converged in 1950. In 1961, Durham Bank & Trust got to be Central Carolina Bank and Trust Company.
In 1964, designer Frank DePasquale needed to put a tobacco leaf on the new CCB sign to go on the Hill Building. Bank executive George Watts Hill, the organizer's child, did not care for the thought on the grounds that he felt the emphasis ought to be on the bank's administrations, not the city's tobacco legacy. The four-sided sign rather had quite recently "Roman-style letters, excellent and unadorned". Harlan Laws Corp. "manufactured the letters in areas from steel and had them covered with white porcelain to secure against rust. The louvered aluminum screen on which they were mounted was anodized against erosion. Latches were of metal or stainless steel for the same reason." The parts for the sign went up after customary business hours in lifts that just came to the fourteenth floor, and specialists utilized ropes and pulleys to lift them whatever is left of the way, 270 feet over the road. Specialists utilized a stepping stool or were brought down by ropes utilizing a soda pop box as a seat. Inside the 12-foot letters went white neon lighting.
In 1997, CCB reported a merger with 76-year-old American Federal Bank of Greenville, South Carolina, with 40 workplaces and $1.3 billion in resources. The arrangement, esteemed at $325.1 million, would give CCB $6.9 billion in resources. The American government name would remain.
CCB had 208 branches and $8.2 billion in resources in March 2000 when National Commerce Bancorporation (NCBC) of Memphis, Tennessee declared a $1.94 billion buy of CCB which was portrayed as "a merger of equivalents", however NCBC would be the surviving organization. Corporate central command would stay in Memphis however Durham would be the operational base camp. NCBC administrator and CEO Thomas M. Garrott would get to be executive, while CCB director and CEO Ernest L. Roessler would get to be CEO of the new organization. The mix would give NCBC "market capitalization of about $4.2 billion, consolidated resources of $15 billion, stores of $11.3 billion and 370 branches in eight states".
NCBC had $7.3 billion in resources and 162 National Bank of Commerce (NBC) branches in Tennessee, Georgia, Mississippi, Virginia, West Virginia, Arkansas and North Carolina. The organization was likewise purchasing Hillsborough Savings Bank, with 3 branches and $150 million in resources. Large portions of the NBC branches were in Kroger stores; CCB had nine Harris Teeter areas.
The CCB name stayed on banks in the Carolinas.
As an aftereffect of the First Union-Wachovia merger, 25 branches of the previous First Union and Wachovia banks got to be CCB areas on February 15, 2002. CCB would stay number three behind BB&T and Wachovia. National Commerce Financial (NCF), the recently named guardian organization, purchased twelve different branches in Georgia and Virginia which would get to be NBC branches. To begin with Bank purchased the other branch, in Salisbury.
In May 2004, NCF declared it would converge with SunTrust, making SunTrust the seventh-biggest bank in the United States. CCB had 3189 workers at the time, with around 1300 of those in back office occupations which could be dropped after the merger. On July 19, 2004, the blending banks reported SunTrust would have 254 branches and 1900 workers in its Carolinas gathering, to be situated in Durham and covering the same domain as CCB before the NCF merger. The Carolinas gathering would be the fourth SunTrust region; the others were Atlanta, Richmond and Washington, D.C. Likewise declared around then were the destinies of NCF's real administrators. NCF boss working officer Richard Furr would head the Carolinas bunch. Scott Edwards, boss managerial officer, would get to be head of kudos for the Carolinas and be situated in Durham. Robert Jones would succeed the resigning Richard Glover as Triangle-range president. John Stallings, NCF head of retail keeping money, would direct SunTrust's Carolinas gathering retail business. NCF Atlanta locale president would assume control over the Carolinas bunch business and business land territories.
In October, CCB reported the loss of 107 home loan and credit adjusting occupations. On December 16, CCB reported 293 of pretty nearly 600 employments would be cut at the Durham operations focus once records were converged in April 2005, at which time SunTrust signs would supplant CCB. The employments would be moved to SunTrust offices in Orlando, Knoxville and different areas. In the meantime, 40 employments were being included Durham. Additionally, 55 employments were being cut in Memphis, while seven were being included. Taking all things together, cutbacks and increments implied a net loss of 127 NCF occupations.
SunTrust expected to keep utilizing the Hill Building, altogether utilized by CCB, for its Carolinas central command. The CCB sign on top of the building would descend. SunTrust CEO Phillip Humann said SunTrust would keep CCB's group center.
In the wake of making an arrangement to move in November 2006 to the Diamond View office improvement somewhere else in downtown Durham, SunTrust sold the Hill Building to Greenfire Development for $4.1 million in July 2006. SunTrust wanted to keep a branch in the building.
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