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became board chairman of
NationsBank. However, less than a year later, NationsBank purchased Bank of America and took the Bank of America name, and Rice himself was forced out as chairman, becoming vice chairman of corporate development. More than a few of those who lost their jobs found the situation ironic. After retiring in early 2001, Rice died in a swimming pool accident in December 2008.
276:
deposited their funds in the Bank of
Jacksonville. L'Engle agreed, and the BoJ began to prosper. Within a year, L'Engle was appointed Treasurer for the State of Florida, and the state's accounts were transferred to BoJ. Within a few years, operating capital exceeded $ 150,000, and the Barnetts applied for and received a
404:
made the highest offer, and the deal was done. At the time of
Barnett's demise, the company had an annual payroll of a quarter billion dollars spread among 6,800 employees. Rice, who had publicly stated more than a decade earlier that he would never sell Bion Barnett's bank to any of its competitors,
430:
secured the
Florida corporate names to three former Barnett Bank entities Barnett Mortgage Company, Barnett Lending Services, and Barnett Credit Services. Bank of America fought over the intellectual property rights to the names, and over the subsequent years Mr. Mack abandoned the possible use to
275:
A conversation between Bion
Barnett and Henry L’Engle changed the bank's fortunes. L'Engle, the Duval County Tax Collector, was annoyed because the bank holding the county's funds charged $ 6.25 for each transfer to New York City banks. Bion immediately offered to waive the fee if Duval County
447:
They acquired the company archives containing annual reports, investor presentations, press releases, correspondence, miscellaneous ledgers, videos and account books; then solicited former employees for other material, including photographs, scrapbooks, news clippings, marketing materials and
215:
William Boyd
Barnett was a merchant and a banker in northeast Kansas when he journeyed with his wife to Jacksonville to visit their oldest son in 1875. Sarah Barnett's health improved during their time in Florida, so the Barnetts returned to Kansas, liquidated their assets, and relocated to
234:(BoJ) on the corner of Main and Forsyth with $ 43,000 in capital. William was president, Bion acted as bookkeeper, and one other person was hired as teller/clerk. Most Florida banks at the time were private and unregulated. In spite of being a newcomer and a
330:
However, under
Chairman of the Board Hugh Jones, Barnett Bank was slow to become involved in the rapidly evolving interstate banking mergers of the 1970s and 80s. Though eventually Barnett did make some purchases of out-of-state banks, starting in
259:
Never make a promise you cannot and do not fulfill. Investigate carefully before granting a line of credit; once granted, there being no adverse change in your client's financial condition, fulfill your promise. Your word must be as good as your
343:. Barnett, like other banks, grew across state lines in this way. But unlike other such banks, Barnett did not change the names of its new holdings, keeping the Barnett name exclusively within Florida. Ultimately, this weakened the company's
387:
in 1990. But in 1997, Barnett CEO Charles Rice, who was named
Jacksonville's highest paid individual among public companies at $ 4.5 million (excluding stock options), offered the company up for sale, just six weeks after a month spent at a
327:, ultimately emerging stronger. When Barnett died in 1958 at the age of 101, Barnett Bank had come to be known as "Florida's Bank". The bank continued to grow with the acquisition of many more Florida banks over the next two decades.
443:
was created in
December, 1997, after NationsBank purchased Barnett. Former Barnett president Allen Lastinger joined several other bank officers to create a non-profit organization to preserve and document Barnett's historical legacy.
413:
In the 1980s, CEO Hugh Jones began a corporate-wide program of giving back to their communities. All the bank's employees, which numbered 1,000, were encouraged to donate time to the charitable cause of their choosing. The
311:
destroyed most of the city, but the
National Bank of Jacksonville was the only bank still standing. William Boyd Barnett died September 2, 1903, and Bion renamed the institution Barnett Bank in his father's honor.
256:
If a young man is of good habits - honest, capable, saving, giving close attention to his business and making progress but lacking in capital - help him. The young man of today is the businessman of tomorrow.
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323:
style of architecture. At 18 stories, it was the tallest skyscraper in the city and remained so until 1954. The bank survived various economic downturns and crises, including the
690:
238:, Barnett and the new institution slowly gained the people's trust, but at the end of their first year, deposits amounted to only $ 11,000. Undeterred, William invited his son,
38:
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For many years, it looked like Barnett would be the only bank of Jacksonville's "Big Three" to ignore the lure of big money from nationwide banking conglomerates.
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253:
Give a man 50 cents if you can make a dollar out of him. In other words, be liberal in your dealings but always have a net profit. Do not do business at a loss.
227:, and Jacksonville already had three banks. The city's population was under 10,000 and there was no infrastructure to support a beginning tourism industry.
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339:. While technically, according to federal statute, one bank cannot own another bank in another state, they can both be owned by the same
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employee publications. Over 70 interviews were conducted which generated 3,000 pages of transcripts that were included in an
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and acquisitions. Despite its slower than average growth, the holding company built a new corporate headquarters building in
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The Bank of America Tower, originally the Barnett Center, which served as the headquarters of Barnett Bank until 1997
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459:, which also holds the Florida State Department of Banking records, as well as records from other defunct banks.
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was the highest building in Jacksonville, and the second-tallest in Florida as of 2010. As of 2019, the
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Jacksonville: announced in 1987 and occupied in 1993, the year Hugh Jones retired. At 42 stories, the
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According to Bion Barnett, "I have never found a flaw in it. It is good advice today."
58:
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Watch your expense account and your losses; your profits will take care of themselves.
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resulted in over 40,000 hours of assistance to worthy projects where they lived.
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347:, as the perception lingered that Barnett was not a major player in the area of
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with over 600 offices and $ 41.2 billion in deposits. Barnett was purchased by
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Jacksonville in March, 1877. Bion, their youngest son, was a senior at the
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was opened to house the company's operations and was built in the popular
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550:"Barnett: The rise and fall of Florida's largest bank | Modern Cities"
477:"Barnett: The rise and fall of Florida's largest bank | Modern Cities"
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250:. You cannot go wrong treating the other man as you would be treated.
155:
947:
352:
242:, to be partner and passed along Barnett's five rules of business:
962:
775:"Records of Charles E. Rice, CEO of Barnett Banks, Inc. 1970-1998"
663:"The Barnett gearing up to come back to life | Metro Jacksonville"
223:
In the spring of 1877, the United States was in the middle of the
851:
The Heart of America: Ten Core Values That Make Our Country Great
348:
187:
179:
48:
1297:
American Security and Trust Company Building (Washington, D.C.)
235:
37:
958:
Barnett Bank of Jacksonville records, 1877-1998 (Finding Aid)
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746:"Whistling at work: Florida Bank CEO grows bank from 'zero'"
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288:. The institution's deposits exceeded $ 1 million in 1893.
846:
644:
Ginzl, David J.: "Barnett: The Story of Florida's Bank"
455:
In 2001, the Barnett Bank collection was donated to the
777:. State Library and Archives of Florida. Archived from
599:"Call Box: Cruise ships downtown and Barnett statue"
526:"Call Box: Cruise ships downtown and Barnett statue"
182:. Founded in 1877, it eventually became the largest
848:
1507:
367:) remains the tallest building in Jacksonville.
931:"Barnett Bank Historic Preservation Foundation"
441:Barnett Historic Preservation Foundation, Inc.
220:and withdrew from school to join his parents.
27:Former American bank that was based in Florida
978:
847:Halamandaris, Bill; Halamandaris, W. (2004).
691:"Headstone: William Boyd Barnett (1824–1903)"
1352:Bank of America Corporate Center (Charlotte)
761:"Lineup of NE Florida's big banks shuffling"
917:"Oops! Bank buys Barnett, but not its name"
574:"Oops! Bank buys Barnett, but not its name"
501:"Oops! Bank buys Barnett, but not its name"
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626:Ginzl, David: "The Last Days of Barnett",
36:
1133:Farmers and Merchants Bank of Los Angeles
831:
827:
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948:Barnett Historic Preservation Foundation
801:"Barnett's Chairman Now Back From Leave"
759:Witkowski, Rachel (September 18, 2009).
434:
379:of Florida was the first to sell out to
295:
206:
832:Witkowski, Rachel (December 10, 2008).
693:. Jacksonville Observer. Archived from
14:
1546:American companies established in 1877
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953:Barnett Banks Collection (Finding Aid)
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1282:555 California Street (San Francisco)
1108:Citizens & Southern National Bank
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900:Harrington, Jeff (October 13, 2000).
834:"Former Barnett Banks CEO dies at 73"
816:"Bank rooted in city's past, present"
813:
798:
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457:State Library and Archives of Florida
1541:Banks based in Jacksonville, Florida
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335:, it did so without growing its own
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713:THE JACKSONVILLE HISTORICAL SOCIETY
689:Miller, Joseph E. (July 26, 2009).
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230:On May 7, 1877, Barnett opened the
147:all of Florida and parts of Georgia
24:
1536:Defunct banks of the United States
1531:Defunct companies based in Florida
902:"Banker to revive name of Barnett"
814:Foley, Bill (September 14, 1997).
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284:. This allowed them to become the
25:
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1213:Provident Institution for Savings
941:
652:, University of Tampa Press, 2001
421:
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836:. Jacksonville Business Journal.
763:. Jacksonville Business Journal.
748:. Jacksonville Business Journal.
744:Ivice, Paul (February 7, 2003).
416:Community Involvement Initiative
1143:First Republic Bank Corporation
1088:Benj. Franklin Savings and Loan
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915:Freer, Jim (October 13, 2000).
908:
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1556:1877 establishments in Florida
799:Flynn, Barry (July 17, 1997).
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317:Barnett National Bank Building
301:Barnett National Bank Building
178:was an American bank based in
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1:
1198:National Westminster Bank USA
1168:Gibraltar Savings Association
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286:National Bank of Jacksonville
202:
1521:Banks disestablished in 1997
1516:Bank of America legacy banks
1208:North Carolina National Bank
1153:Fourth Financial Corporation
1055:Bank of America, Los Angeles
1013:Bank of America Private Bank
7:
1183:MBNA/Maryland National Bank
919:. Orlando Business Journal.
90:; 27 years ago
10:
1572:
1163:Gibraltar Savings and Loan
1050:Banc of America Securities
1008:Bank of America Home Loans
392:facility for treatment of
197:
1526:Banks established in 1877
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1301:Bank of America Building
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1060:Bank of America NT&SA
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709:"Florida's Seminole Wars"
667:www.metrojacksonville.com
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363:Barnett Center (now, the
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1427:Hearst Tower (Charlotte)
1261:Western Savings and Loan
1178:Mercury Asset Management
1113:Commercial National Bank
1321:Bank of America Center
904:. St. Petersburg Times.
603:The Florida Times-Union
530:The Florida Times-Union
426:In late 2000 financier
383:in 1985/7, followed by
270:
1396:Bank of America Tower
1356:Bank of America Plaza
1188:Michigan National Bank
1158:G. H. Walker & Co.
1128:E. A. Pierce & Co.
1103:Central Bank and Trust
818:. Florida Times-Union.
377:Atlantic National Bank
304:
212:
1241:Standard Federal Bank
1233:Security Pacific Bank
1193:Montgomery Securities
1123:Countrywide Financial
1098:Cassatt & Company
629:Jacksonville Magazine
435:Historic preservation
385:Florida National Bank
365:Bank of America Tower
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225:Depression of 1873-79
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119:Jacksonville, Florida
1266:White Weld & Co.
1118:Continental Illinois
1093:Boatmen's Bancshares
554:www.moderncities.com
481:www.moderncities.com
232:Bank of Jacksonville
218:University of Kansas
76:William Boyd Barnett
1287:701 Brickell Avenue
1070:Bank of New England
803:. Orlando Sentinel.
597:Strickland, Sandy.
578:www.bizjournals.com
524:Strickland, Sandy.
505:www.bizjournals.com
390:drug rehabilitation
361:reinforced concrete
133:Number of locations
32:
1223:Robertson Stephens
309:Great Fire of 1901
305:
280:, pursuant to the
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59:Financial services
30:
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1292:Albuquerque Plaza
726:Dougal, April S.
697:on July 13, 2011.
337:brand recognition
282:National Bank Act
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16:(Redirected from
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730:. answers.com.
728:"Barnett Bank"
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781:on 2016-03-04
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1400:Jacksonville
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1173:LaSalle Bank
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176:Barnett Bank
175:
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164:Total assets
114:Headquarters
106:acquired by
79:Bion Barnett
45:Company type
31:Barnett Bank
1432:Miami Tower
1335:Los Angeles
1246:Sovran Bank
1203:NationsBank
1041:Historical
883:|work=
452:component.
431:the names.
402:NationsBank
381:First Union
248:Golden Rule
246:Follow the
192:NationsBank
143:Area served
108:NationsBank
1510:Categories
1446:Executives
1148:Fleet Bank
1075:BankBoston
1043:components
855:. p.
785:2019-10-11
672:2017-11-03
608:2020-07-23
583:2020-07-23
559:2020-07-23
535:2020-07-23
510:2020-07-23
486:2020-07-23
463:References
394:alcoholism
203:Foundation
1458:Ken Lewis
1405:Manhattan
1385:St. Louis
1365:Charlotte
1325:Baltimore
1305:Baltimore
1275:Buildings
1256:Suretrade
1001:Divisions
885:ignored (
875:cite book
428:Reid Mack
398:Charlotte
194:in 1997.
156:Financial
1482:Category
353:downtown
152:Services
1494:Commons
1410:Phoenix
1370:Chicago
1360:Atlanta
1340:Norfolk
1330:Houston
1315:Oakland
1310:Midland
1084:Baybank
1023:Merrill
400:-based
349:mergers
333:Georgia
303:in 2011
198:History
188:Florida
180:Florida
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85:Defunct
73:Founder
65:Founded
49:Banking
1375:Dallas
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236:Yankee
1390:Tampa
1345:Tulsa
345:stock
260:bond.
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887:help
861:ISBN
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439:The
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271:Fate
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