Hugh McColl: Timeline

1785: Solomon McColl arrives in Wilmington, NC, from Appin, Scotland.

1842: McColl's great-grandfather, Duncan Donald McColl, is born.

1875: McColl’s grandfather, Hugh Leon McColl, is born.

1901: Hugh Leon McColl marries Gabrielle Drake McColl.

1886: Duncan Donald McColl organizes Bank of Marlboro.

1905: McColl’s father, Hugh Leon McColl Jr., is born.

1911: Duncan Donald McColl dies.

1929: Hugh Leon McColl Jr. marries Frances Pratt Carroll.

1931: Hugh McColl Sr. collapses in the arms of Hugh McColl Jr. and dies. Hugh McColl Jr. takes over the bank.

1935: Hugh Leon McColl III is born (he ultimately becomes Hugh McColl Jr.).

1939: McColl's father, Hugh McColl Jr. closes down the bank. Hugh McColl Jr. ultimately becomes a farmer.

1951: Addison Reese arrives at American Trust.

1953: McColl graduates from Bennettsville High School, where he was student body president and president of his high school class. He was quarterback, centerfielder, point guard and voted Best All-Round Boy in his senior class. His yearbook quotation reads: "He who is talented in leadership holds the world's dream in his grip."

1953: McColl enters UNC-Chapel Hill.

1957: McColl graduates from UNC-Chapel Hill, with a BS in business administration.

1957: McColl enters the U.S. Marine Corps.

1958: At Camp LeJeune, NC, McColl is commissioned as a second lieutenant, USMCR, Second Artillery Battalion, Tenth Marine Regiment.

1959: McColl finishes stint with Marine Corps and joins a group of college students traveling to Europe. He meets Jane Sprattand, and by the end of the trip, they are engaged.

1959: McColl interviews for a job with American Commercial Bank--the forerunner to NCNB--and is initially rejected. A phone call from McColl’s father lands him the job.

1959: McColl's first day at American Commercial Bank, in Charlotte, NC, as one of six management trainees in “sheep dipping program.” In this program, trainees move from department to department to learn how the bank works.

1959: McColl marries Jane Spratt.

1960: American Commercial Bank merges with Security National Bank of Greensboro becoming North Carolina National Bank (NCNB). It is the state's second largest bank behind Wachovia.

1960: McColl's first son, Hugh Leon McColl II, is born.

1960: McColl is pulled out of the NCNB training program and receives a permanent job as a correspondent banker.

1960: Addison Reese hires Tom Storrs, the recently-appointed manager of Charlotte's Federal Reserve branch. Storrs becomes Reese's man in Greensboro, NC.

1962: McColl’s second child, John Spratt McColl, is born.

1963: NCNB resources listed at $654 million, making it roughly three times the size of the bank McColl went to work for in 1959.

1965: Reese names Tom Storrs executive vice president of operations signaling that Storrs is next in line to take over.

1965: McColl is named "Deputy Director of National Division" at NCNB

1966: McColl finds fraudulence at one of NCNB’s client banks, in Dillon, SC.

1967: McColl is named a Senior Vice President of NCNB--specifically, Senior Vice President of the National Division.

1967: Reese and Storrs buy the North Carolina franchise for BankAmericard, the credit card company that had started a modern-day gold rush for Bank of America. This would be the first credit card that could be used across state lines.

1967: NCNB assets reach $1 billion.

1967: McColl's third child, Jane McColl, is born.

1968: NCNB Corporation, NCNB’s holding company, is created.

1969: NCNB opens first headquarters of NCNB International Division in Nassau, Bahamas.

1970: McColl is named an Executive Vice President of NCNB.

1974: Addison Reese retires. Storrs becomes chairman of holding company, chairman of the executive committee of the bank, and CEO of both entities. McColl is named president of NCNB.

1974: NCNB is the nation's 26th largest bank with holding of more than $3.6 billion in assets. Nonbanking subsidies of NCNB Corporation have 250 offices in six states, and 2 foreign countries.

1974-75: During a harrowing national recession, NCNB nearly became insolvent.

1974: Wachovia moves back ahead of NCNB.

1975: McColl begins fourth ward revitalization project in Charlotte with Joe Martin and Dennis Rash.

1981: McColl is promoted to Chief Operating Officer at NCNB Corporation.

1981: NCNB buys a small bank in Florida, First National Bank of Lake City.

1981: Fed approves Lake City purchase. NCNB becomes first state bank in Southeast to own banks in two states.

1982: McColl and CD Spangler negotiate a deal where CD Spangler sells $425 million bank of his bank, Bank of North Carolina, to NCNB.

1982: In 1982, NCNB sets one-year acquisition record when it spends $200 million to buy about 75 individual banks in Florida.

1983: Storrs retires, McColl is named NCNB Corporation's CEO.

1984: Southeast Banking Compact forms. North and South Carolinas, Florida, and Georgia join. There is a one-year waiting period until it gains regulator and court approval; but it means that they can acquire banks from one another.

1985: Revitalizing Charlotte's Fourth Ward leads to McColl’s appointment as chairman of the Charlotte Uptown Development Corporation.

1985: McColl makes an acquisitions offer to First Atlanta Corp chairman Thomas R. Williams. Williams chooses to merge with Wachovia instead.

1987: When the bank does not meet its goals, McColl cuts his own salary by 34 percent.

1988: NCNB acquires First Republic Bank of Dallas and becomes the largest banking company in the Southeast.

1989: Fortune magazine has names McColl one of the seven toughest bosses in the United States.

1989: NCNB makes an unsolicited $2.4 billion offer for Citizens and Southern bank in Atlanta. McColl's bid fails.

1990: McColl becomes a grandfather when John McColl has a son.

1990: President George H.W. Bush holds economic summit meeting in Washington. McColl attends, suggests that it is time to end interstate compacts, and open up the nation to interstate branching.

1990: With NCNB losses up and NCNB earnings down, CD Spangler buys $100 million worth of NCNB stock, making him the largest single shareholder in the company.

1991: McColl devises new strategy for C&S/Sovran acquisition and courts Bennett Brown for a possible merger.

1991: NCNB and C&S/Sovran merge successfully in a deal worth more than $4.5 billion. The new entity is called NationsBank.

1991: McColl pledges to make $10 billion in low-income loans.

1992: The building that would ultimately be known as the Bank of America Corporate Center opens. Designed by Cesar Pelli and soaring 60 stories high, it is the tallest building in Charlotte.

1992: McColl addresses Emerging Issues Forum and says that the South will be unable to compete in the decades ahead unless workers are no longer dependent on low-wage manufacturing jobs.

1992: McColl meets the only other native of Bennettsville who might be as famous as he is: Marian Wright Edelman. He meets Hillary Rodham Clinton the same night.

1992: McColl receives World Citizen Award from Charlotte World Affairs Council for "turning global attention on the region."

1992: McColl meets Bill Clinton at a party. They talk for 5 and a half hours. Clinton listens closely to McColl, from whom he gets much of his economic platform.

1992: NationsBank earns $1.15 billion, becoming the first bank in South to top $1 billion in a year mark.

1993: Working Mother magazine ranks NationsBank as the U.S.’s number-one company for its $35 million program to assist its employees in caring for their children and elderly family members.

1993: NationsBank forms Nations Housing Fund, a $100 million program to finance as many as four thousand low-income homes in DC area.

1993: McColl is instrumental in the formation of the Riegle-Neal Interstate Banking and Branching Act of 1994, which Clinton endorses in 1993.

1994: McColl’s father, Hugh McColl Sr., dies.

1994: McColl learns that BankAmerica in California is ready to talk about a "merger of equals."

1995: McColl flies to San Francisco to meet with Dick Rosenberg, a director of San Francisco’s BankAmerica, to discuss a merger. Talks end when the two men can't agree on a location and on a chain of command for the merged bank.

1995: NationsBank funds building of public Transit Center in Charlotte. The company hires Harvey Gant as its designer.

1996: Atlanta Olympics is sponsored by NationsBank

1996: NationsBank meets pledge made in 1991--$10 billion in low-income loans in 10 years--with five years to spare.

1996: NationsBank announces the purchase of Boatmen's Bancshares of St. Louis, a bank with $41 billion in assets and a dominant market share in the Midwest.

1997: NationsBank’s stock splits. Bank donates $7 million to renovate a burned-out church and turns it into an artist’s colony. The bank also buys prime piece of North Charlotte real estate and gives it to Charlotte’s art museum as a second home.

1997: NationsBank signs a deal to buy Barnett Banks, the biggest bank in Florida with $44 billion in assets. That deal made NationsBank the third largest in the country in assets, behind Citicorp and Chase Manhattan Corp.

1997: NationsBank earns a record $3.08 billion.

1998: NationsBank and BankAmerica agree to terms for a merger. The $66.6 billion merger of NationsBank Corp. and BankAmerica Corp. becomes official in September, and ultimately creates Bank of America.

1998: McColl honored with 1998 Corporate Citizen Award for work revitalizing Charlotte.

1998: McColl receives Downtown Achievement Award from International Downtown Association for his work, through NationsBank, supporting the arts in Charlotte. This is the first time organization awards an individual.

1998: Bank of America records a $372 million loss on a hedge fund loan. David Coulter, the former CEO of BankAmerica, takes responsibility for the loan and resigns.

1998: Jane Spratt McColl gives 400 acres of Catawba River land to the Culture and Heritage Foundation of York County. The donation is intended to preserve open space and foster appreciation of the area's natural history.

1999: McColl announces that he will take a pay cut because of Bank of America due to the losses from hedge fund investments and Russian bonds in 1998.

1999: Ken Lewis, bank President, is promoted to COO.

2000: McColl is honored with University of North Carolina University Award.

2001: McColl retires and Ken Lewis is promoted to bank CEO.

2001: McColl starts McColl Partners, an investment bank that advises mid-sized and family owned companies on mergers and acquisitions.

2003: McColl opens art galleries in Charlotte and New York City.

2006: McColl partners with Mark Oken, former Bank of America Corp’s chief financial officer, to start a private equity firm called Falfurrias Capital Partners.