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Comparison Of FleetBoston And Bank of America

FleetBoston Financial

HISTORY: Dates to Massachusetts Bank, founded 1784. Expanded rapidly during 1900s with a string of mergers which caused the bank to operate under names including First National Bank of Boston, Baystate Corp., Bank of Boston and, following 1999 merger with Fleet Bank, FleetBoston Financial Corp.
HEADQUARTERS: Boston
EMPLOYEES: 47,700.
STATES SERVED: Maine, New Hampshire, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Pennsylvania.
DEPOSITS: $133 billion
ATMs: 3,400
PROJECTED 2004 PROFITS: $1.48 billion

Bank Of America

HISTORY: Origins date to founding of Commercial National Bank in 1874 in Charlotte, N.C. Later American Commercial Bank and North Carolina National Bank (NCNB). Renamed NationsBank in 1991, and in 1998 announced merger with Bank of America, which had been founded in 1904 as Bank of Italy.
HEADQUARTERS: Charlotte.
EMPLOYEES: 132,700
STATES SERVED: Washington, Oregon, California, Nevada, Idaho, Arizona, New Mexico, Texas, Oklahoma, Kansas, Iowa, Missouri, Arkansas, Illinois, Tennessee, Maryland, Virginia, North Carolina, South Carolina, Georgia, Florida.
DEPOSITS: $409 billion
ATMs: 13,120
PROJECTED 2004 PROFITS: $10.96 billion

Source: Company figures, Hoover's Online.


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