Word: bancohio
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Last week Cleveland's National City ($6.6 billion) announced plans to merge with Columbus' BancOhio ($6 billion). Indus try Analyst James Wooden of Merrill Lynch estimates that by 1995 the U.S. will have only 25 to 35 national banking organizations. Citicorp, BankAmerica and the other leading financial-center banks remain relentless in their determination to knock down the remaining roadblocks to expansion across state lines. The financial giants sometimes lose a round or two, but they always fight back...
Many economists cautiously predict that rates will keep dropping on into 1983. Yet other experts, like Richard Zambell, chief economist of the BancOhio National Bank in Columbus, expect that the current rapid growth of the U.S. money supply (an annual rate of 14.8% in the past month) will force the Federal Reserve Board to tighten credit. Argues Zambell: "To prevent a return to double-digit inflation, the Fed will have to push interest rates sharply higher by year...
Quiet and aloof, Harry Wolfe is the opposite of Bob. Other present-day Wolfes are Old Bob's son, Edgar, and Harry's three sons, Robert, H. Preston and Richard. Each has an equal voice in running the family shoe business, banks (BancOhio Corporation) newspapers and radio station (WBNS). Only unanimous decisions are acted upon. The Wolfes also own Ohio Agricultural Lands, Inc.-5,536 acres of choicest farmland in nearby counties, where they raise 12,000 hogs, 2,000 cattle, feed 10,000 sheep a year...
...City Bank consolidation (TIME, Sept. 30). The other current is the grouping of separate units through one controlling corporation. Greatest examples of this are the Transamerica Corp., the Northwest Bancorporation, the First Bank Stock Corp., the Guardian Detroit Union group, the New Midland Marine Corp. (TIME, Sept. 30), the Bancohio Corp., organized last week and the Banco Kentucky Corp. which will shortly purchase the Brighton Bank & Trust Co. and the Pearl-Market Bank & Trust Co. both of Cincinnati...
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