As separate companies in 1997, NationsBank spent $31.7 million in measured media, according to Competitive Media Reporting estimates, while BankAmerica spent $38.6 million. CMR estimates for Banc One were $24.2 million compared to $11.8 million for First Chicago.
Corporate headquarters for the new BankAmerica is expected to be in Charlotte, N.C., now home to NationsBank, while corporate lending reportedly would be based in San Francisco, home to BankAmerica. For the New Banc One headquarters reportedly would be Chicago. Banc One is presently based in Columbus, Ohio.
The new BankAmerica would have assets estimated at $570 million, creating the biggest bank in the U.S. Spokesmen at the banks said it was too early to comment on possible agency changes.
Copyright April 1998, Crain Communications Inc.