American Fletcher National Bank
| |
| Public | |
| Industry | Banking |
| Fate | Acquired by Banc One on January 27, 1987 |
| Successor | Banc One |
| Founded | 1839 in Indianapolis |
| Headquarters | Indianapolis, Indiana, United States |
Key people |
|
| Products | Financial Services |
| Parent | American Fletcher Corporation |
American Fletcher National Bank was an Indianapolis-based bank founded in 1839 that was eventually absorbed by Bank One and later Chase Bank.
In the 1970s and 1980s, they were well known for owning every 222-prefixed number in the 317 area code. Officially, this number was 222-AFNB (2362), but since any combination would work, most people just dialed seven 2s.[1] This line would provide a recorded message with the time, weather, and other announcements. This service was discontinued in 1986 and the number 222-2222 was later used by Indianapolis radio station WIBC for use as their weather line.[1]
History
American Fletcher National Bank (AFNB) was formed on December 31, 1954 upon the merger of the Fletcher Trust Company with the American National Bank to form the second largest bank in the state at that time.[2] Evan Woollen Jr., former president of Fletcher Trust, became president on the combined company. With the merger with the Fidelity Bank & Trust Company into the company on July 31, 1959, AFNB became the largest bank in the state. Woollen had died just month prior to the completion of the merger. Frank E. McKinney, the leader of Fidelity since 1935, became in charged of AFNB.
In 1968, a holding corporation called American Fletcher Corporation (AFC) was formed to be the new parent company for the bank and allow the company to acquire banks outside its home county once the Indiana Legislature pass legislation that would allow such actions.[2]
McKinney's son, Frank E. McKinney, Jr. was named president in 1972 and chairman of the board in 1973. He had helped to greatly expand the bank through acquisition of other banks, especially when banking restrictions were relaxed.
In May 1986, it was announced that AFC was going to merge with the Columbus, Ohio based Banc One Corporation with American Fletcher National Bank being renamed Bank One Indianapolis and American Fletcher Corporation renamed Banc One, Indiana Corporation.[3][4]
The result gave American Fletcher executives 20% of the voting stock in the Banc One Corporation parent company and Frank E. McKinney, Jr. became president of Banc One while still remaining be president and chairman of Banc One Indiana Corp.[5] The merger was finalized on January 27, 1987.[6]
References
- 1 2 "Line 222". Indianapolis Monthly. 21 (12). June 1998. p. 24. ISSN 0899-0328.
- 1 2 Plimpton, Thomas L. (1994). "Bank One, Indianapolis". In Bodenhamer,, David J.; Barrows, Robert G. The Encyclopedia of Indianapolis. Indiana University Press. pp. 289–290. ISBN 9780253112491.
- ↑ Berg, Eric N. (May 8, 1986). "Banc One to Buy American Fletcher". New York Times.
- ↑ "Banc One to Affiliate With American Fletcher". Associated Press. May 7, 1986.
- ↑ Ansberry, Clare & Bailey, Jeff (May 8, 1986). "Banc One Sets Pact to Acquire Banking Firm --- Indiana's American Fletcher To Be Bought for Stock Valued at $597.3 Million". Wall Street Journal (Eastern ed.). p. 1. (subscription required (help)).
Under the agreement, John B. McCoy, Banc One's president and chief executive officer, would become chairman and continue as chief executive of Banc One. He would succeed John Havens who retired as chairman last month. Mr. McKinney would become Banc One president, based in Indianapolis.
Link via ProQuest. - ↑ "American Fletcher Corp. and Banc One Corp. Monday completed...". United Press International. January 27, 1987.