What company was formed by the 1998 merger of NationsBank and BankAmerica?

The 1998 merger of NationsBank and BankAmerica formed Bank of America.

NationsBank, headquartered in Charlotte, North Carolina, acquired San Francisco-based BankAmerica in a transaction announced in 1998. Although NationsBank was technically the acquiring company, it adopted the better-known Bank of America name because of the national recognition attached to the BankAmerica brand.

The combination created one of the largest banking companies in the United States. It joined NationsBank’s strong presence in the Southeast with BankAmerica’s extensive California franchise and other western operations. The headquarters remained in Charlotte, which became a major U.S. banking center.

This deal is often confused with Bank of America’s later acquisition of FleetBoston Financial in 2004 and its purchase of Countrywide Financial in 2008. It is also distinct from the 2008 merger of Bank of America and Merrill Lynch, in which Merrill Lynch became part of the banking group.