American Fletcher National Bank

American Fletcher National Bank was an Indianapolis-based bank founded in 1839 that was eventually absorbed by Bank One and later Chase Bank. Since the merger of the Fletcher Trust Company with the American National Bank to form the American Fletcher National Bank and Trust Company at the end of 1954, it had been the largest[1][2] or the second largest bank in the state of Indiana, often changing places with its Indianapolis-based rival Indiana National Bank for the top spot.[3] From the mid-1950s through the late 1980s, American Fletcher National Bank and Trust, along with Indiana National Bank and Merchants National Bank, was one of the top three largest banks within Indianapolis and its holding company, American Fletcher Corporation, was one of the top three largest bank holding companies within the state, along with INB Financial Corporation (formerly Indiana National Corporation) and Merchants National Corporation.[4]

American Fletcher National Bank and Trust Company
  • American Fletcher National Bank
  • AFNB
  • American Fletcher
TypePublic
IndustryBanking
FateAcquired by Banc One
SuccessorBanc One
Founded1839 (1839) as S.A. Fletcher & Company in Indianapolis
December 31, 1968 (1968-12-31) as American Fletcher Corporation
DefunctJanuary 27, 1987 (1987-01-27)
HeadquartersIndianapolis, Indiana, United States
Key people
ProductsFinancial Services
ParentAmerican Fletcher Corporation

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.[5] 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.[5]

History

American Fletcher National Bank and Trust Company (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.[3][6][7][8] Evan Woollen Jr., former president of Fletcher Trust, became president of the combined company. With the merger with the Fidelity Bank & Trust Company into the company on July 31, 1959,[9] AFNB became the largest bank in the state.[10] Woollen had died just a month prior to the completion of the merger. Frank E. McKinney, the leader of Fidelity since 1935, became in charge of AFNB.

American Fletcher was one of the earliest issuers of bank credit cards within the state of Indiana with the introduction of their proprietary AFNB Charge Card in May 1966.[11][12][13] By early 1967, the AFNB Charge Card was associated with the regional Midwest Bank Card System,[14] an early forerunner of MasterCard.[15][16][17] Outside of Marion County, American Fletcher franchised their charge card to other Indiana banks, such as the Merchants National Bank of Terre Haute.[18]

American Fletcher Corporation

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.[3][19][20][21][22] At that time, American Fletcher had 41 branches throughout Indianapolis and Marion County. It was not until July 1, 1985, that the laws enacted by the Indiana State Legislature went to effect that permitted the acquisition of banks outside of its home county along with extremely limited branching.[23][24]

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.

The bank made its first expansion move outside of Marion County by the acquisition of the offices and assets of the failed Shelby National Bank of Shelbyville in Shelby County, from the FDIC for $4.5 million in April 1984.[25] The failed bank was immediately integrated into AFNB.

Just days after a new law went into effect which allowed bank holding companies to own more than one bank and to cross county lines,[26] AFC announced in July 1985 of their pending acquisition of the Union Bank and Trust Co. of Franklin in Johnson County for $10.2 million[27] followed by the August announcement of the pending acquisition of the First American National Bank of Plainfield in Hendricks County for $14.1 million[28] and the September announcement of the pending acquisition of the Carmel Bank & Trust Co. in Hamilton County.[4][29]

The acquisition of the Union Bank and Trust in Franklin was finalized in December 1985 just after Union Bank opened a branch office in Columbus. State laws at that time would not have allowed AFNB to open an banking office in Columbus, but it allowed AFC a presence in Bartholomew County if Union bank was able to open a banking branch office prior to the merger going into effect.[30]

In February 1986, AFC announced that they were acquiring the Citizens Northern Company, the holding company for the Citizens Northern Bank of Elkhart, for $5 million. [31] In the same month, AFC completed its acquisition of the First American National Bank of Plainfield.[32]

Banc One Indiana
The former Bank One Tower

In May 1986, it was announced that AFC was going to merge with the Columbus, Ohio-based Banc One Corporation for $597.3 million in stock with American Fletcher National Bank being renamed Bank One Indianapolis and American Fletcher Corporation renamed Banc One, Indiana Corporation.[33][34]

The other subsidiary banks, Union Bank & Trust Co. of Franklin, First American National Bank of Plainfield, Carmel Bank & Trust Co., and Citizens Northern Bank of Elkhart were renamed Bank One Franklin, Bank One Plainfield, Bank One Carmel and Bank One Elkhart respectively.[2][35]

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 as president and chairman of Banc One Indiana Corp.[36] The merger was finalized on January 27, 1987.[37] McKinney and two other directors of American Fletcher became directors of Banc One Corporation.[1]

After the merger, the other banks that parent Banc One had previously acquired in the state of Indiana, such as Bank One Lafayette, Bank One Merrillville, Bank One Marion, Bank One Crawfordsville, Bank One Rensselaer, Bank One Richmond, and Bank One Bloomington, were placed under the supervision of Banc One Indiana Corporation.[2]

In 1990, the 51-story Bank One Tower at 111 Monument Circle, the tallest building in the state of Indiana, was finally opened after 20 years of planning under American Fletcher.[38]

By March 1997, Banc One completed the consolidation of the dozen or so individual Bank One banks, such as Bank One Indianapolis, Bank One Franklin, Bank One Bloomington, etc., to form a single statewide Bank One Indiana financial institution.[39] Prior to the charter consolidation, customers of one Bank One bank could not access their accounts at a different Bank One bank in another county since the individually charter banks were separate legal entities.[40]

References
  1. "Indy's American Fletcher Agrees to Merge with Banc One of Ohio". Fort Wayne News Sentinel. May 8, 1986. The parent company of Indiana's largest bank has agreed to become part of Ohio's second-largest bank company. Officials of American Fletcher Corp. of Indianapolis and Banc One Corp. of Columbus, Ohio, said Wednesday the stock-swap deal was valued at $597.3 million, or about $60 a share of American Fletcher stock. The price paid is the highest so far for any Indiana bank, experts said. The Indianapolis bank will join Banc One, one of the Midwest's largest bank companies. Banc One has assets of more than $11 billion. American Fletcher's assets total $4.1 billion. American Fletcher will change its name to Banc One, Indiana Corp. and will gain a role in the management of the parent company. As part of the agreement, American Fletcher Chairman Frank E. McKinney Jr. will become president of the Ohio-based company. John B. McCoy, now Banc One president, will become chairman and chief executive officer. McKinney and two other directors of American Fletcher will be added to the Columbus-based company's board of directors. The two additional directors have not been named.
  2. "Banc One Corp. Swallows Indiana's Largest Bank". Post-Tribune. January 27, 1987. p. B7. Indiana's largest bank and Ohio's second-largest bank holding company merged Monday, and chairmen of the two companies promised to expand as much as the law would allow. American Fletcher Corp. became a wholly owned subsidiary of Banc One Corp. of Columbus, Ohio, in a stock transaction valued at $552 million, American Fletcher chairman Frank E. McKinney Jr. said. Banc One Corp. is the owner of Bank One Merrillville, formerly Bank of Indiana... American Fletcher Corp., which owns American Fletcher National Bank of Indianapolis and four other banks in Indiana, was renamed Banc One Indiana Corp., McKinney said Monday at a news conference. American Fletcher National Bank will be known as Bank One Indianapolis, he said. Signs reflecting the change will be erected at the bank's branches starting Feb. 16, he said. The other banks owned by American Fletcher will also change their names to Bank One and the name of their home cities. They are Carmel Bank and Trust Co., Citizens Northern Bank of Elkhart, Union Bank and Trust Co. of Franklin and First American National Bank of Plainfield. Four other Indiana banks already owned by Banc One, in Crawfordsville, Lafayette, Marion and Merrillville, will become affiliates of Banc One Indiana Corp. later this year, McKinney said. Banc One also has acquisitions pending in Rensselaer, Bloomington and Richmond. Once those deals are completed, Banc One Indiana will control 10.8 percent of the total deposits in Indiana banks, McKinney said.
  3. Plimpton, Thomas L. (1994). "Bank One, Indianapolis". In Bodenhamer, David J.; Barrows, Robert G. (eds.). The Encyclopedia of Indianapolis. Indiana University Press. pp. 289–290. ISBN 9780253112491.
  4. "Hamilton County banking suddenly is "Big 3" game". The Indianapolis Star. September 12, 1985. p. 43 – via Newspapers.com. It's getting harder to tell the difference between banks in Hamilton County and Indianapolis. Two county banks have agreed to be acquired by members of the Indianapolis "Big Three." Another is controlled by the Frenzel family, which runs another large Indianapolis institution, Merchants National Bank. "It will become very much like Marion County," Frank E. McKinney Jr., chairman of American Fletcher Corp., says of Hamilton County. The Indianapolis bank firm is the latest to enter the Hamilton market reaching a pact on Aug. 30 to buy Carmel Bank and Trust Co... Since the early 1970s, the major Indianapolis banks Merchants, American Fletcher and Indiana national banks have looked toward Hamilton County... Carmel Bank & Trust Co. $17.8 million in assets agreed to be acquired by American Fletcher Corp... In the meantime, Carmel Bank the county's smallest bank with about $17.8 million in assets intends to start branches as well. The bank currently has only its main office in Carmel. American Fletcher's McKinney adds that results won't be dramatic.
  5. "Line 222". Indianapolis Monthly. 21 (12). June 1998. p. 24. ISSN 0899-0328.
  6. "Stockholders Will Vote On Bank Merger". The Indianapolis Star. November 21, 1954. p. 31 – via Newspapers.com. American Fletcher National Bank and Trust Company was proposed last week as the name of the new financial institution expected to emerge with consolidation of the American National Bank and the Fletcher Trust Company. Shareholders will vote on the consolidation at special meetings on Dec. 8, according to letters mailed to shareholders of the two institutions. If approved, the consolidation will become effective at the close of business Dec. 31st. Elmer W. Stout was proposed as chairman of the board of the new bank and Evans Woollen Jr. as president.
  7. "OK By Shareholders Advances Bank Merger". The Indianapolis Star. December 9, 1954. p. 35 – via Newspapers.com. Officer of the new American Fletcher National Bank and Trust Comprny will include Elmer V. Stout, chairman of the board; William B. Schlltses, vice-chairman of the board and chairman of the executive committee; Evans Woollen Jr., president...
  8. "Indiana Banks Consolidate". The Wall Street Journal. December 10, 1954. p. 20. Special stockholder meetings approved consolidation of American National Bank and Fletcher Trust Co. here into the state's largest bank. The new firm, to be known as American Fletcher National Bank and Trust Co., will be exceeded in size only by the Indiana National Bank here Resources of the new firm will be more than $300 million. Alternate Link via ProQuest.
  9. "American Fietcher Bank Merger". The Wall Street Journal. June 23, 1959. p. 6. Stockholders of American Fletcher National Bank & Trust Co. and Fidelity Bank & Trust Co., Indianapolis, will hold special meetings July 21 to consider a merger of the banks, American Fletcher would be the surviving institution. Terms of the merger call for shareholders of Fidelity Bank to receive seven shares of the merged bank for each 10 shares held American Fletcher shareholders will retain present certificates. Subject to stockholder approval, the merger is expected to be completed July 31. Alternate Link via ProQuest.
  10. "Banks Plan Merger: 2 Indiana Institutions Would Form State's Biggest". The New York Times. May 13, 1959. p. 56. Directors of the American Fletcher National Bank and Trust Company and the Fidelity Bank and Trust Company voted today to merge under the national charter of the Fletcher Bank. The merger, which is subject to approval of stockholders and the Controller of the Currency, was announced in a joint statement by H. Prentice Browning, American Fletcher president, and Frank E. McKinney, Fidelity president. The American Fletcher National Bank and Trust Company, would be the surviving bank and would have resources of about $525,000,000, according to the announcement. That would make it the biggest bank in Indiana. The Indiana National Bank of Indianapolis now is the biggest with resources of $481,000,000. Mr. McKinney would be chairman of the new bank and Mr. Browning would serve as president and chairman of the executive committee. The merger would become effective next Sept. 1. Alternate Link via ProQuest.
  11. "New AFNB Charge Card Plan To Eliminate Costly Bookkeeping". Indianapolis Star. March 21, 1966. p. 26 – via Newspapers.com. A new charge card plan which will allow retailers to offer the convenience of charge accounts to their customers especially suited to retail practices in this area... has been announced by the American Fletcher National Bank. Frank E, McKinney, chairman of the board of AFNB and H. Prentice Browning, AFNB president, said local area AFNB charge cards at the outset of the program...
  12. "AFNB Charge Card ad". Indianapolis Star. May 16, 1966. p. 12 – via Newspapers.com.
  13. "Nearly 200 Businesses Are Added To AFNB Charge Card Program". Indianapolis Star. May 23, 1966. p. 22 – via Newspapers.com. Nearly 200 businesses in Marion County have been added to the American Fletcher National Bank's charge card program since the official start Monday.
  14. Osbon, John (February 13, 1967). "Credit Card Waves Splash Upon Chicago Retail Scene: Credit Card Waves Splash". Women's Wear Daily. 114 (30). pp. 1, 19. Link via ProQuest.
  15. "Midwest Bank Card Joins with Interbank". Chicago Tribune. December 17, 1968. p. C7. The Midwest Bank Card system will join the Interbank Card association effective Jan. 1. Alternate Link via ProQuest.
  16. "Will Join Interbank". Indianapolis Star. December 17, 1968. p. 36 – via Newspapers.com. The Midwest Bank Card System Board of directors has voted to join the Interbank Card Association effective Jan. 1. Interbank cards now are honored by some 240,000 merchants throughout the United States and in parts of Mexico, Europe and Japan. Indiana banks participating in the Midwest Bank system now include American Fletcher National Bank & Trust and Merchants National Bank, both of Indianapolis; First National Bank of Bloomington, First National Bank of Kokomo, Industrial Trust & Savings Bank of Muncie, Indiana Bank and Trust Company of Fort Wayne, Irwin Union Bank of Columbus and Old National Bank of Evansville.
  17. "Bank Credit Cards Come of Age". Chicago Tribune. September 23, 1969. p. 4A. Alternate Link via ProQuest.
  18. "Merchants National Bank of Terre Haute ad". Terre Haute Tribune. January 26, 1967. p. 15 – via Newspapers.com.
  19. "AFNB Board: OKs Forming Holding Firm". Indianapolis Star. August 2, 1968. p. 30 – via Newspapers.com. The board of directors of American Fletcher National Bank and Trust Company yesterday approved the formation of a "one-bank" holding company to allow "greater flexibility".
  20. "AFNB Moves To Set Up Holding Firm". Indianapolis Star. October 19, 1968. p. 30 – via Newspapers.com. S. Edgar Lauther, chairman of the board and chief executive officer of American Fletcher National Bank and Trust Company, yesterday announced a shareholders' meeting will be held Nov. 19 to approve a reorganization plan to form a holding company which would own AFNB. Frank E. McKinney, honorary chairman of AFNB, has been elected chairman of the board of the new holding company, which has been named American Fletcher Corporation, Lauther said.
  21. "Two Major Banks Get Permission to Organize One-Unit Holding Firms: Currency Comptroller Approves Three Other Such Proposals, Putting Week's Total at Seven". The Wall Street Journal. November 29, 1968. p. 6. U.S. National Bank of Portland, Ore., received permission to merge with Unit National Bank Of Oregon, currently organizing; the new institution would be owned by U.S. Bancorp. U.S. National has deposits of $1.16 billion and operates 110 offices. American Fletcher National Bank & Trust Co., Indianapolis, with deposits of $594 million and 41 branches, was given approval to merge with Marion County National Bank, currently organizing. American Fletcher is owned by American Fletcher Corp. Alternate Link via ProQuest.
  22. "Bank Structure Changed". Indianapolis Star. January 1, 1969. p. 43 – via Newspapers.com. Formation of American Fletcher Corporation, a holding company which will own American Fletcher National Bank and Trust Company, was completed yesterday. AFNB Chairman of the Board S. Edgar Lauther, president of the holding company, said shares of the bank have been converted to shares in the holding company according to a plan previously approved by shareholders and regulating authorities. Frank E. McKinney is chairman of the board of the new holding company.
  23. Koenig, Bill (April 21, 1985). "New cross-county banking law to bring flurry of deals". Indianapolis Star. p. 34 – via Newspapers.com. The pressure has been building for cross county banking for 17 years. On July 1, a new bank law takes effect, and the lid comes off. And with it comes the job of figuring where everything could land. Already there have been surprises. Small banks generally opposed statewide banking, fearing banks from Indianapolis would gobble them up. But the first acquisition announced after cross-county banking was signed into law last week had a twist—Columbus, Ind., bank concern, Irwin Union Corp., on Friday bought one in Indianapolis, Midwest National Corp. The new law prohibits a holding company from controlling more than 10 percent of the state's deposits on July 1. That figure rises to 11 percent on July 1. 1986, and 12 percent on July 1, 1987. The new law also will enable banks to establish branches in neighboring counties. But that section restricts banks of more than $400 million in assets to setting up two branches in the next five years. Smaller banks have an easier time. Those under $200 million can establish one branch each fiscal year through June 30. 1990. The net effect officials say, is that buying other banks will be the primary method to expand. Despite provisions for limited interstate banking, there are doubts whether Indiana banks will buy banks across state lines and vice versa. Under the new bank law, banks in neighboring states can acquire Hoosier holding companies so long as Indiana banks are able to take over banks in those states. That's known as reciprocity. Currently, only Kentucky has such a law.
  24. Barnhizer Rivas, Susan & Lewis, David P. (1986). "Senate Enrolled Act No. 1: A New Era of Banking Expansion in Indiana". Indiana Law Review. 19 (1): 115–137 – via IUPUI.
  25. "Shelby bank purchase lets AFNB get across county line". The Indianapolis Star. April 21, 1984. p. 27 – via Newspapers.com. AFNB, Indiana's largest bank, paid $4.5 million for the assets of the insolvent Shelbyville bank that was closed Thursday by the U.S. Comptroller of the Currency.
  26. "Major Changes Brought About By Revisions In Banking Laws". Post-Tribune. July 2, 1988. p. B3. Banking laws that have gone into effect since July 1, 1985, have allowed Indiana bank holding companies to buy more than one other bank, to set up branch banks in contiguous counties and to buy banks in contiguous states in which there are reciprocal arrangements. When the interstate banking law went into effect in 1986, banks in Ohio rushed into Indiana searching for mergers and takeover targets.
  27. "American Fletcher plans to buy Franklin bank". The Indianapolis Star. July 19, 1985. p. 41 – via Newspapers.com. American Fletcher Corp. finally took the plunge. The Indianapolis bank holding company announced Thursday it had entered into an agreement to acquire Union Bank and Trust Co. of Franklin. The Johnson County bank will become a unit of American Fletcher Corp. Until Thursday, American Fletcher, owner of American Fletcher National Bank, was the only one of the "big three" Indianapolis bank companies that had not announced an acquisition since the Indiana General Assembly legalized cross-county banking. The agreement calls for American Fletcher Corp. to pay $140 per share of Union Bank stock, a total transaction of $10.2 million.
  28. "American Fletcher to buy largest Hendricks bank". The Indianapolis Star. August 28, 1985. p. 31 – via Newspapers.com. Under the agreement. First American National will become a subsidiary of American Fletcher but will retain current management and its name. American Fletcher Corp. announced Tuesday it has agreed to buy the parent company of First American National Bank in Plainfield for $14.1 million. The acquisition would be the second for American Fletcher since state banking laws on takeovers...
  29. Koenig, Bill (September 6, 1985). "American Fletcher missing to expand under new bank laws". The Indianapolis Star. p. 42 – via Newspapers.com. bank holding company announced agreements with banks in Plainfield and Carmel. It also took over Shelby National Bank in Shelbyville last year after that bank was declared insolvent. The move was an exception to the ban on cross-county activity in effect at the time... American Fletcher has shown some signs of going beyond the immediate area. For example. Union Bank and Trust has plans to set up a branch in Columbus. That is possible because the new banking law also legalized cross-county branch banks. However, bank companies with deposits of more than $400 million are limited to two cross county branches between now and 1990... Chairman Frank E. McKinney Jr. said in an interview that the law's acquisition limits have caused American Fletcher to be careful about its plans.
  30. "Bank acquisition is complete". The Indianapolis Star. December 17, 1985. p. 33 – via Newspapers.com. Besides expanding AFC's presence in Johnson County, McKinney said, "We are also optimistic about establishing new banking relationships with individuals and businesses In neighboring Columbus and Bartholomew County. After the acquisition was announced, Union Bank applied to regulatory authorities to open a Columbus branch. That operation began on Dec. 9, before the transaction was complete. As a result, Union's Columbus branch does not count against American Fletcher's two branch limits. Under the banking law American Fletcher Corp. completed its acquisition of Union Bank and Trust Co. of Franklin, the Indianapolis holding company said Monday. The deal was announced in July, and was the first bank takeover announced by American Fletcher. The estate of AFC Chairman Frank E. McKinney Jr. owned 32.9 percent of Union Bank's stock before the transaction. Union Bank will keep its name and operate as an AFC unit... passed this year by the Indiana General Assembly, holding companies the size of American Fletcher can only open two cross-county branches between 1985 and 1990... AFC's main unit is American Fletcher National Bank. The company has pending acquisitions of banks in Plainfield and Carmel.
  31. "AFNB to buy Elkhart banking firm". Indianapolis Star. February 4, 1986. p. 24 – via Newspapers.com. American Fletcher Corp. said Monday It will buy the stock of Citizens Northern Co. Inc.. parent firm of Citizens Northern Bank of Elkhart. The move will put the state's No. 2 holding company Into direct competition with large banking concerns based In Detroit and Cleveland. American Fletcher said it will pay about $5 million for the Citizens Northern Co. stock. Citizens Northern, with about $46.5 million In assets.
  32. "Briefly noted". Indianapolis News. February 5, 1986. p. 23 – via Newspapers.com. American Fletcher Corp. has completed its acquisition of the First American National Bank of Plainfield.
  33. Berg, Eric N. (May 8, 1986). "Banc One to Buy American Fletcher". The New York Times.
  34. "Banc One to Affiliate With American Fletcher". Associated Press. May 7, 1986.
  35. "AFNB, Banc One merge". The Call-Leader. January 27, 1987. p. 1 – via Newspapers.com. Merger of one of Indiana's largest banks and four others into Ohio's second-largest bank holding company la part of a plan to dominate the Great Lakes region, officials of the two companies said. The $552 million merger of American Fletcher Corp. into Banc One Corp. of Columbus, Ohio, was completed Monday... American Fletcher Corp. owns American Fletcher National Bank and four others in the state. The holding company will be renamed Banc One Indiana Corp. and will be a wholly owned subsidiary of Banc One, American Fletcher chairman Frank E . McKinney Jr. said at a news conference. American Fletcher National Bank will be known as Bank One.
  36. 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". The Wall Street Journal (Eastern ed.). p. 1. 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.
  37. "American Fletcher Corp. and Banc One Corp. Monday completed..." United Press International. January 27, 1987.
  38. Schouten, Cory (December 18, 2013). "Chase attaches name to downtown's tallest building". Indianapolis Business Journal.
  39. "Banc One Corporation Completes Charter and Systems Consolidation in Indiana" (Press release). Banc One Corporation. March 26, 1997 – via JPMorgan Chase.
  40. Werth, Brian (October 20, 1996). "On Business And Technology". Bloomington Herald-Times. Starting early next year, Banc One, the regional bank holding company based in Columbus, Ohio, that has Bloomington's biggest bank in Bloomington—Bank One, Bloomington—will have a system set up to allow customers to bank at any Bank One office in Indiana. The bank is streamlining its operations to use just one legal bank charter instead of the eight individual bank charters that now exist—in Bloomington, Crawfordsville, Indianapolis, Lafayette, Marion, Merrillville, Rensselear and Richmond. The bank will be called Bank One, Indiana, headquartered in Indianapolis. "Presently, a customer of Bank One, Bloomington, cannot bank at Bank One, Indianapolis," said Joe Barnett, CEO of Bank One of Indiana Corp. "More and more of our customers travel between many of our markets and want to be able to bank at any office. This change will benefit our customers."
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