[citation needed] In 1998, NationsBank acquired BankAmerica, and modified that better-known name to become Bank of America Corporation.

In 1973 Reese was succeeded as CEO by Tom Storrs,[3] who the next year turned the presidency of NCNB over to then 39-year-old Hugh McColl, who began an aggressive period of expansion.

In 1988, NCNB's assets grew to $60 billion after it bought the failed First RepublicBank Corporation of Dallas, Texas from the FDIC.

Favorable terms, with the FDIC assuming most of the loan portfolios and absorbing mark-to-market losses, allowed NCNB to expand profitably, and a cost-cutting culture improved margins.

[citation needed] Only two years later, however, C&S/Sovran was nearly brought down by problem loans in the Washington, D.C./Northern Virginia market, and was all but forced to merge with NCNB to form NationsBank.

[citation needed] In July 1992, NationsBank agreed to invest $200 million in Maryland National Corporation for a 16 percent nonvoting stake and an option to buy the whole company, which it subsequently executed in February 1993.

[citation needed] In September 1995, NationsBank announced the acquisition of Bank South Corp for $1.6 billion in stock.

The combined bank became the largest in the American South, with assets of $225 billion, and 2,600 branches stretching from North Carolina to New Mexico.

[5] In 1998, it acquired BankAmerica Corporation of San Francisco in what was the largest bank merger in American history at the time.

However, to this day it is headquartered in Charlotte at what is now Bank of America Corporate Center, and retains NCNB/NationsBank's pre-1998 stock price history.