Central Carolina Bank & Trust Company [1]
Central Carolina Bank & Trust Company
by Wiley J. Williams, 2006
[2]
The Central Carolina Bank & Trust Company [3] traces its roots to a 1903 charter for the Durham Loan and Trust Company [4], which focused mainly on insurance and real estate [5]. Its first president was John Sprunt Hill [6], and its directors included such prominent Durham businessmen as George W. Watts [7], Benjamin N. Duke [8], and James S. Manning. A banking department was added in 1915. In 1937 the company became the Durham Bank & Trust Company and moved into a new building on Corcoran Street, which it has continued to occupy. The company grew through mergers and acquisitions, changing its name in 1961 to the Central Carolina Bank & Trust Company (CCB).
CCB's growth continued primarily through new acquisitions. In 1993 alone, CCB acquired the ten offices of Greensboro [9]'s First Home Federal, Graham Savings Bank, and Mutual Savings Bank and Citizens Savings, both in Lenoir. In 2000 Memphis-based National Commerce Bancorporation (with about 400 offices in nine states) acquired CCB Financial Corporation (with more than 200 offices), combining the institutions into a $15 billion enterprise. Memphis became the headquarters for the combined companies under the banner of National Commerce Bancorporation, and Durham [10] remained CCB operations headquarters.
Reference:
Central Carolina Bank & Trust Co., Our Sixtieth Year of Service to Central Carolina (1963).
Additional Resources:
John Sprunt Hill Papers, UNC: http://www.lib.unc.edu/mss/inv/h/Hill,John_Sprunt.html [11]
Image Credit:
Durham Loan and Trust Building; Durham, W. Main St. ca. 1910. Image available from the Durham County Library, North Carolina Collection. Available from http://www.durhamcountylibrary.org/ncc/photo_archives/d/d004.php [2] (accessed June 26, 2012).
1 January 2006 | Williams, Wiley J.
