Voices / The Rise Of Banktown, USA

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Economy Environments
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The Rise of Banktown, USA

Interstate banking restrictions were lifted in the 1970s, and Charlotte area banks capitalized quickly, buying other banks across the region and country. Bank of America and Wachovia emerged as global banking leaders, leading Charlotte to become the nation’s second largest banking center. As a result, the area’s population soared, related industries arrived to further spur the city’s economy, and lasting investments created a more livable 21st century city.

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Credits

  • A view of Charlotte’s skyline with the twenty-story Liberty Life Building in the background, circa 1978. Courtesy of the Robinson-Spangler Carolina Room – Charlotte Mecklenburg Library.
  • Trading room, 1970s. Courtesy of Wells Fargo Historical Services
  • From the 1965 NCNB Annual report and depicts opining accounts at one of NCNB’s many branches. Courtesy of the Bank of America historical collection
  • Hugh McColl. Courtesy of the Bank of America historical collection
  • Ed Crutchfield, 1972. Courtesy of Wells Fargo Historical Services
  • A photo ov NCNB branch in the 1970s. Courtesy of the Bank of America historical collection
  • Aerial Uptown Charlotte, November 2005. Wikimedia Commons user Webwidejosh
  • Charlotte skyline from The Vue condos. Courtesy of James Willamor.
  • Charlotte LYNX light rail 7th Street station next to Seventh Street Public Market. Courtesy of James Willamor.
  • Photographs of Charlotte from atop Duke Energy Center. Courtesy of James Willamor.
  • Charlotte - Bechtler Museum of Modern Art. Courtesy of James Willamor.
  • Charlotte skyline from The Vue condos. Courtesy of James Willamor.

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Charlotte's emergence as a banking center was important to improving the state's well-being.

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