Review Mortgage Lenders

Bank One

Banking 1

Introduction to how banks make money and the value they (potentially) add to society.

Bank of America Is Going to Dimonland

Data source: FDIC.

Much of the Bank One legacy lives on, even if under a new name. JPMorgan Chase has hundreds of offices littered across these five Midwestern states, ranking no lower than No. 5 by deposits in any given state.

Remnants of the Bank One legacy also appear in JPMorgan's core business lines. Its vast card business is owed in part to Bank One, which was the largest Visa issuer in the world when it merged with JPMorgan. The relationship between the card network and card issuer has only strengthened in the years since, as the Dimon-led institution inked a deal to effectively lease Visa's network as if it were its own.

Bank of America's trip to Dimonland

Charlotte, N.C.-based Bank of America has many of Bank One's legacy markets in its sights with its expansion plans. In Ohio, it plans to open new offices in Cincinnati, Columbus, and Cleveland. It's also taking aim at Lexington, Kentucky. In Indiana, the bank is opening branches in the capital city of Indianapolis.

Charlotte's losing 'a little bit of the luster.' Just one bank has its HQ here now.

From eight to one

In 2007, Charlotte was headquarters to eight banks, including Wachovia. Just over the past year, three other local names have disappeared: Capital Bank, Carolina Premier Bank and Park Sterling Bank.

Ronnie Bryant, CEO of the Charlotte Regional Partnership , a public-private economic development organization, said headquarters bring significant benefits to a region, including well-paying jobs and prestige.

But he said he doesn't think the loss of bank headquarters hurts the region's ability to recruit within financial services or other industries.

"It's good for bragging rights, to some degree," Bryant said, adding that the area's financial services sector has seen substantial job growth in recent years and remains strong even as the local economy has diversified.

Similar consolidations of community or regional banks have affected other parts of the U.S.

Experts cite a variety of reasons, including the desire for banks to get bigger to spread higher regulatory costs across a larger asset base. For some banks, selling also becomes an attractive option as their senior leadership nears retirement age, experts say.

What happens if one bank closes your account but you have 10 others?

Lets say one bank closes your account due to overdraft that hasn't been paid and they report you to the credit bureau that regulates banks which means you can't open another account.


You can be arrested for over drafting and leaving, a bank account.

Most banks don't mess around with this.

If arrested, they will get restitution and court costs, and so will the court.