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NATIONS BANK-BANK OF AMERICA--ANCESTORS OF HUGH III McCOLL, EX-CEO---NationsBank, BankAmerica agree to merge. The aptly named NationsBank Corp. and BankAmerica Corp. took a giat leap for the banking industry in a $62.8 billion merger creating the country's first coast-to-coast bank. The combined corporation would have $570 billion in assets, surpassing CHASE MANHATTAN CORP. as the biggest U.S. bank. The new company, which will take the BANK AMERICA name, will operate in 22 states, with 4,800 branches and 15,000 automated teller machines. Another bank giant also was born Monday as BANC ONE CORP. and FIRST CHICAGO NBD CORP. announced a $28.8 billion merger to create the Midwest's most dominant bank. The two deals come just a one (1) week after CITICORP and TRAVELERS GROUP said they would combine their sprawling banking insurance and brokerage businesses into the nation's biggest financial company.
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