Mishkindiscusses the recent history of bank consolidations in Chapter 11, and these changes have...

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Mishkindiscusses the recent history of bank consolidations in Chapter 11, and these changes have occurred in all parts of the US. For this reason, lots of local banks have changed ownership and names over the past ten years. For example, one of our banks recently bought banks in two neighboring communities and have roughly doubled in size during the past five years. Another local bank was purchased by Wells Fargo. In contrast, one of the largest banks in a nearby metropolitan area has grown by opening new branches and has not bought other banks. Their TV and newspaper ads also claim that they will not sell out to another bank and have always had the same name.

In general, larger banks can offer more services to their customers, but the advantages of working with a community bank that knows you can be lost if there are personnel changes after the bank grows. One of our banks recently expanded and offers new services, but they also kept most of the personnel in place so our relationship with the bank has not changed.

Have the banks that you patronize changed names or ownership recently? Were these changes beneficial or troublesome? Would these factors influence your decision to work with a particular bank?

must have 2 references

Sunabh · Accepted Answer

Running Head: MANAGEMENT		1
MANAGEMENT		2
MANAGEMENT
Table of Contents
Patronizing Banks Changing Names or Ownership Recently	3
Changes Being Beneficial or Troublesome	3
Influence of These Factors on My Decision to Work with this Bank	4
References	5
Patronizing Banks Changing Names or Ownership Recently
It would be essential to consider that every middle-market bank in the industry; either looks to acquire or being acquired. Acquisition or bank consolidations are considered as the opportunity to expand, grow and scale up the operations. I have patronized with Bank of America from a longer duration. 
However, currently the bank has not changed its name since 1997. Bank of America is a renamed entity of Bank America after the merger between Nations Bank and Bank America. Nations bank of Charlotte was reported to acquire BankAmerica in October 1998, which was also reported as one of the largest bank acquisitions or mergers of that time. 
Bank America took the better-known name as Bank of America and the holding company was also named as Bank of America Corporation. One of the major reasons behind this acquisition was the fact that Bank America lent $1.

Mishkindiscusses the recent history of bank consolidations in Chapter 11, and these changes have occurred in all parts of the US. For this reason, lots of local banks have changed ownership and names...

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