Bank One Corporation History
Chicago, Illinois 60670
Telephone: (312) 732-4000
Fax: (312) 732-3366
Sales: $25.98 billion (1999)
Stock Exchanges: New York Chicago
Ticker Symbol: ONE
NAIC: 551111 Offices of Bank Holding Companies; 52211 Commercial Banking (pt); 52221 Credit Card Issuing (pt); 52232 Financial Transactions Processing; 52239 Other Activities Related to Credit Intermediation (pt)
We will deliver exceptional results through exceptional people. We are a highly respected, world-class financial services company committed to being the best in all we do: superior performance, quality service, a great place to work. Key Dates:
- First Chicago (the First) opens for business.
- The First opens the First Trust and Savings Bank to serve non-commercial customers.
- First Trust merges with Union Trust Company to form the First Union Trust and Savings Bank.
- John H. McCoy becomes president of City National Bank & Trust (CNB) of Columbus, Ohio.
- CNB becomes the first bank outside of California to market Bankamericard (later Visa).
- First Banc Group of Ohio, Inc., a holding company of CNB, is formed.
- First Chicago Corporation is established.
- First Banc Group is renamed Banc One , and its affiliated banks adopt the name Bank One.
- Banc One expands beyond state boundaries through an agreement with Purdue National Corporation in Indiana.
- Banc One enters Texas through the acquisition of MCorp and its family of failed banks.
- First Chicago and NBD Bancorp, Inc. merge to form First Chicago NBD Corp.
- Banc One acquires First USA Inc., a fast-growing credit card company.
- Bank One Corporation is formed through the merger of Banc One and First Chicago NBD.
- Bank One launches an Internet-only bank called WingspanBank.com.
- 'Banc One: Costly Hedging,' Economist, December 25, 1993, pp. 100--01.
- 'Banc One: Mightier Than Its Parts,' Economist, December 19, 1992, p. 76.
- Cahill, Joseph B., 'Acquisitive Bank One Turns Its Back on Takeovers, Pins Hopes on Internet,' Wall Street Journal, May 10, 1999, p. A4.
- ------, 'Bank One Shares Drop 23% on Forecast--Doubt Is Cast on Strategy of Consumer Lending As Profit Margins Shrink,' Wall Street Journal, August 26, 1999, p. A2.
- ------, 'Bank One to Take $725 Million Charge, Plans to Overhaul Its Credit-Card Lines,' Wall Street Journal, January 12, 2000, p. A3.
First Chicagoan: 125th Anniversary Issue, Chicago: First Chicago Corporation, March 1988.
- Lipin, Steven, and Matt Murray, 'Banc One Is Expected to Buy First USA--Tax-Free Stock Exchange for Credit-Card Firm Seen As $7 Billion Deal,' Wall Street Journal, January 20, 1997, p. A3.
- Melcher, Richard A., 'Is `Nice, Big, Dull' Good Enough? NBD Is Bringing Its Conservative Style to First Chicago,' Business Week, May 12, 1997, p. 84.
- Morris, Henry C. The History of the First National Bank of Chicago, Chicago: R.R. Donnelley & Sons Company, 1902.
- O'Brien, Timothy L., 'First Chicago, NBD Agree to a $5.14 Billion Merger,' Wall Street Journal, July 13, 1995, p. A3.
- Phillips, Stephen, 'Just Your Friendly Hometown Banker--With a Megabank,' Business Week, April 9, 1990, pp. 64--6.
- Raghavan, Anita, and Jathon Sapsford, 'Deals & Deal Makers: Bank One Names Dimon Chairman, CEO,' Wall Street Journal, March 28, 2000, p. C1.
- Rifkin, Glenn, 'He Changed the Rules in Banking,' Computerworld, April 25, 1988, pp. 1, 84--5.
- Svare, J. Christopher, 'Acquiring for Growth and Profit: The Banc One Experience,' Bank Management, November 1990, pp. 18--24.
- Taylor, John H., 'A Tale of Two Strategies,' Forbes, August 31, 1992, pp. 40--1.
- Teitelman, Robert, 'The Magnificent McCoys: Running America's Best Bank,' Institutional Investor, July 1991, pp. 47--56.
- Vanac, Mary, 'Merger Changes Bank One's Local Operations in Ohio,' Akron Beacon Journal, Ohio, November 5, 1998.
- Weber, Joseph, 'The Mess at Bank One: Ex-CEO McCoy Shared Power Too Much,' Business Week, May 1, 2000, p. 162.
Source: International Directory of Company Histories, Vol. 36. St. James Press, 2001.