April 15, 1998 (March 19), Tiger years, the American National Bank and the Bank of America merger.

1998 4 15, the third largest bank in the United States [lsjt.net headquartered in North Carolina National Bank, with headquarters in San Francisco, Bank of America merger, involving an amount close to $ 60 billion merger between composed of Bank of America is the United States first truly national banks since the Great Depression, and businesses across the east and west coasts, covering all 21 states and Washington, DC, amounted to $ 570 billion in assets (lsjt.net) more than Chase Manhattan The bank made the first in the country. Its number of branches to 4876 reached 15,000 units, automated teller machines, the first time a Washington residents can use ATMs to withdraw cash free of charge in Los Angeles. Chairman of Bank of America in the American National Bank CEO Hugh McColl, will be appointed after the merger.
new Bank of America marks the establishment of the U.S. banking industry has entered a new stage of development. All U.S. Bank is a regional bank can not interstate development, in 1994 the U.S. Congress to relax control laws, a number of the original regional banks to grow up quickly. However, not all people think the bank merger is good news. The new Bank of America will cut 5000-8000 employees in the next two to three years; big banks means more convenience, but will lack the kind of intimacy of the small and medium-sized banks, large banks tend to charge higher fees. However, mergers can share resources, reduce costs, the new Bank of America annual management costs alone would save $ 2 billion, mostly holds a positive attitude no wonder that the shareholders of the bank mergers.