Banking
Alfred du Pont acquired a major interest in Florida National Bank (founded 1905) of Jacksonville shortly after arriving in Florida in the mid-1920s. Other banks were gradually added into what became the Florida National Group, which was one of the strongest banks in the state. In size, the branches eventually numbered 185, second only to Barnett Bank.
Ball built the Florida National Bank building at 214 North Hogan Street in Jacksonville in 1961. The structure was eleven stories tall and contained the corporate offices for the bank. Ed Ball also kept his principal office there for managing the du Pont Trust. After Ball's death, the structure was renamed the Ed Ball Building.
On March 7, 1989, First Union Corporation, based in Charlotte, North Carolina announced that it would acquire Florida National Banks in a deal worth $849 million. The transaction was consummated the following year.
Read more about this topic: Edward Ball (businessman)
Famous quotes containing the word banking:
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)