Bank One Corporation History

1 Bank One Plaza
Chicago, Illinois 60670

Telephone: (312) 732-4000
Fax: (312) 732-3366

Public Company
Incorporated: 1998
Employees: 91,310
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)

Company Perspectives:

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:

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

Company History:

Further Reading:

  • '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.