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B of A completes Fleet acquisition
November 4, 2007
The (Nantucket, Mass.) Inquirer and Mirror:Pacific National Bank, which is getting ready to celebrate its 200th anniversary, has been acquired as part of Bank of America's roughly $48 million purchase of FleetBoston. The merger creates the nation's second-largest bank, with nearly $1 trillion in assets. Following the merger, B of A, which is based in Charlotte, N.C., has 180,000 employees, more than 35 million customers and 16,500 ATMs. Its 5,700 banking offices in 29 states and Washington, D.C., stretch from New England to the Southeast. Reuters has reported that the bank controls nearly 10 percent of insured U.S. bank deposits.
Trends / StatisticsRetail / Off-PremisesOtherNorth AmericaBanking Executive SummaryBank / Credit Union
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