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75-492: The building opened for business in 1972. The property was originally named Winters Bank Tower and served as the headquarters for Winters Bank. After Bank One , which was headquartered in Columbus, acquired Winters Bank, the building owner, Virginia Kettering , the daughter-in-law of inventor Charles F. Kettering , changed the name to Kettering Tower. In 2005, a New York investment firm, Kettering Tower Partners LLC, bought

150-557: A bank in San Antonio. In 1988, Lomas acquired 80,000 accounts from a bank in New York. In 1989, Lomas & Nettleton Financial was in financial trouble and was forced to sell its credit card division. Lomas sold Lomas Bankers Corp. and Lomas Bank USA to an investor group led by Merrill Lynch Capital Partners for $ 500 million in cash and preferred stock. After the sale to the consortium led by Merrill Lynch, Lomas Bankers Corp.

225-478: A buying spree as soon as Wisconsin and surrounding states started loosening their restrictive bank branching and ownership laws and Marine had recently purchased banks throughout Wisconsin and most recently had purchased a bank with three branch offices in the state of Minnesota and another bank in the state of Illinois just a few months before. In late December 1986, Marine entered the Chicago market by initiating

300-498: A company that was formed by a private investor group in 1988 to acquire failed and weak Texas banks, for $ 782 million in Banc One stock. The acquisition of Team Bank brought 56 branches into Banc One Texas, which then had 146, though a few branches needed to be closed because of branch overlaps. After this acquisition, Bank One Texas remained as the next largest bank in the state after NationsBank . The acquisition of Team Bancshares

375-651: A few months later from the Resolution Trust Corporation in 1990. This failed savings and loan association cost the federal government $ 1.4 billion. The 48 former branch offices were integrated into Bank One Texas, which had 63 branch offices at that time. The following year, Banc One acquired 13 Houston-area offices of the failed Benjamin Franklin Savings from the RTC for $ 36 million. In 1992, Banc One acquired Team Bancshares of Dallas,

450-575: A few months later. Seven years later, Citizens Banking Corp. announced in September 1994 that they were acquiring all four Michigan banks in East Lansing, Fenton, Sturgis, and Ypsilanti from Banc One for $ 115 million. The divestiture was completed in February 1995. The Bank One brand did not return to Michigan until the 1998 merger with First Chicago NBD which resulted in the rebranding of

525-619: A gathering space for the local community. The tenant roster includes the offices of many prominent companies, including: This article about a building or structure in Ohio is a stub . You can help Misplaced Pages by expanding it . Bank One Bank One Corporation was an American bank founded in 1968 and at its peak the sixth-largest bank in the United States. It traded on the New York Stock Exchange under

600-617: A holding company for the City National Bank in Columbus, Ohio . The First Banc Group, Inc. was formed in 1968 as a holding company for City National Bank and was used as a vehicle to acquire other banks. As Ohio began to gradually relax its very restrictive Great Depression era banking laws that had severely restricted bank branching and ownership, City National Bank, through its First Banc Group parent, started to purchase banks outside of its home county. The first acquisition by

675-520: A result of the late 1980s banking crises in Texas that was caused by the defaulting of a large number of real estate and energy sector loans when energy prices dropped and large numbers of people lost their jobs as a result. Although Banc One could obtain failed banks at a discount that were subsidized by the Federal government, they could also be stuck with loans in which borrowers could later default on if

750-479: A village, and in 1902 the village attained city status. Rider's Inn opened on June 16, 1812, on what is now US Route 20 to serve weary travelers passing through Painesville. But later in the 19th century it served a greater purpose – as a stop on the Underground Railroad . The freedom seekers would come to a dry well located behind the inn. There, they would find a ladder leading down to a door to

825-709: Is Painesville's independent school option that educates students from birth through sixth grade. Its seventh through twelfth grade campus is located in nearby Huntsburg, Ohio . Painesville is the home of Lake Erie College , a private liberal arts college enrolling approximately 1,200 students. The college offers over 60 undergraduate programs and master's programs. The former Andrews Osborne Academy 's Painesville campus became part of Lake Erie College in 2008. Lakeland Community College , located in nearby Kirtland, Ohio , offers Associate Degree level education to residents of Painesville and Lake County. Morley Library , serving both Painesville City and Painesville Township,

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900-477: Is located just north of Interstate 90 and is easily accessed via Route 44. Laketran operates bus lines throughout Lake County as well as into downtown Cleveland and Cleveland's major medical centers in University Circle . Two major railroads, CSX and Norfolk Southern , pass through the city and serve some of the city's industries. Additionally, Amtrak's Lake Shore Limited passes through on

975-603: Is located within Painesville's 284-acre (115 ha) Historic Downtown District. The Painesville City and Painesville Township healthcare needs are provided in neighboring Concord Township by University Hospitals Cleveland Medical Center and Tri-Point Medical Center. The hospital is part of the Lake Health healthcare system. Major transportation routes in the city are U.S. Route 20 and Ohio State Route 2 , Ohio State Route 84 and Ohio State Route 44 . Painesville

1050-616: The 2020 census . Painesville is included in the Greater Cleveland metropolitan area. Painesville is included in what is historically referred to as the Connecticut Western Reserve . General Edward Paine (1746–1841), a native of Bolton, Connecticut , who had served as a captain in the Connecticut militia during the war, and John Walworth arrived in 1800 with a party of sixty-six settlers, among

1125-717: The stock symbol ONE. The company merged with JPMorgan Chase & Co. on July 1, 2004, with its CEO Jamie Dimon taking the lead at the combined company. The company had its headquarters in the Bank One Plaza (now the Chase Tower ) in the Chicago Loop in Chicago , Illinois , now the headquarters of Chase's retail banking division . Bank One traces its roots to the merger of Illinois based First Chicago NBD , and Ohio-based First Banc Group (later Bank One),

1200-644: The 1992, Banc One announces the pending acquisitions of two western-based holding bank holding companies, Denver-based Affiliated Bankshares of Colorado and Phoenix-based Valley National Corporation , that would give the company access to new markets in Colorado, Arizona, Utah, and California. Banc One paid $ 378 million in stock to stockholders of Affiliated Bankshares for 27 affiliate banks with 38 offices in Colorado and $ 1.2 billion in stock to stockholders of Valley National for 206 offices in Arizona operating under

1275-667: The CSX line. However, these trains do not stop in the city. The nearest Amtrak station is 28 miles (45 km) to the southwest in Cleveland . Painesville is 43 miles (69 km) from Cleveland Hopkins International Airport, Ohio's largest airport. The largest employers are the city government, county government, and the public school systems. Other notable employers in the area include Avery Dennison , Mar-Bal Corp., Lubrizol , AeroControlex, Guyer Precision, Eckart America, Ranpak and Meritec. The area in and around Painesville

1350-626: The Chicago bank back as soon as the Illinois banking laws would permit ownership by Ohio-based companies, which eventually happened in December 1990. The lawyer was able to sell the bank back to Banc One within two years at a substantial profit. Banc One entered the state of Texas in 1989 through the acquisition of a number of failed banks that were seized by the Federal Deposit Insurance Corporation (FDIC) as

1425-688: The Dallas-based First USA for $ 7.9 billion in stock. Prior to this acquisition, most Bank One credit card accounts were issued and serviced by the various local Bank One banks. For example, most Bank One Indianapolis customers had credit cards that were issued and serviced by Bank One Indianapolis via the former American Fletcher credit card center prior to the acquisition. Unfortunately for Banc One and especially for John B. McCoy, First USA would later cause problems for its new parent by generating unexpected losses that were caused by mismanagement and by questionable decisions that were made in

1500-599: The First Security offices were folded into Bank One Lexington with a few offices were closed because they were too close to an existing branch. Although Banc One had a presence in Kentucky since 1986, it had little or no presence beyond Lexington and suburban Cincinnati. To remedy this problem, Banc One acquired Louisville-based Liberty National Bancorp with its 104 banking offices located throughout Kentucky and Southern Indiana in 1994 for $ 842 million in stock. At

1575-490: The Illinois legislature was slow in removing obstacles against interstate banking, Banc One had to compete with Northwest and NBD, along with some Chicago-based banks, to obtain available banks in key markets in Illinois. After a five-year acquisition lull in the state of Kentucky, Banc One increased its presence in northeast central Kentucky with the acquisition of Lexington-based First Security Corporation of Kentucky with its 28 offices for $ 204 million in stock in 1992. Most of

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1650-587: The Inn is still open offering lodging and dining. Historical photographs, memorabilia and documents such as the anti-slavery Bugle are currently on display in the main lobby. According to the United States Census Bureau , the city has a total area of 7.01 square miles (18.15 km ), of which 6.83 square miles (17.68 km ) are land and 0.18 square miles (0.47 km ), or 2.59%, is water. Painesville and Concord townships, along with

1725-586: The Kettering Tower for $ 21.9 million, or $ 45.63 per square foot. The Kettering Tower owner defaulted on the mortgage and the property was sold to Bank of America for $ 10.8 million at a Montgomery County Sheriff's Auction in 2011. In 2012, Albert Macanian of Dunkirk Realty, paid only $ 6.4 million for the property. In 2019 it was sold for 13 million to Stratacache , which makes digital signs and monitors for restaurants and retail as well virtual and augmented reality software for retail, and which intends to make

1800-459: The MNet division was generating a profit, the rest of MCorp began suffering huge loses when customers began to default on their mortgage payments that were the result of the economic downturn that had begun in Texas. In attempt to save itself, MCorp sold MNet to Lomas & Nettleton Financial Corporation the following year for $ 300 million in cash and securities. After the acquisition by Lomas, MNet

1875-622: The Marine Corp. of Springfield in Central Illinois with its 15 banking locations in Springfield, Bloomington, Champaign, and Monticello for $ 193 million in stock. Marine Corp. of Springfield was renamed Banc One Illinois and Marine's lead bank, Marine Bank of Springfield, became Bank One Springfield. A few months later, Banc One acquired First Illinois with its 15 offices in suburban Chicago for $ 349 million in stock. Because

1950-571: The attempt to increase profitability. First USA original was originally formed in Dallas as a subsidiary of MCorp that was called MNet . It was formed in 1985 to handle the back end work for providing credit cards, electronic banking, and other consumer services through member banks of the Texas bank holding company. To issue credit cards, MCorp (via MNet) established a credit card issuing bank in Wilmington, Delaware, called MBank USA . Although,

2025-540: The building its new headquarters. The tower was later rebranded as Stratacache Tower. Located in the tower was the Dayton Club, formerly the Dayton Racquet Club, which offered a fitness center and business-conducive dining and banquet facilities, but which permanently closed in 2020. On the ground floor is an optometrist and the restaurant Carmen's Deli. For many years, a large Chase Bank branch

2100-706: The change in federal and state banking laws in 1985, Banc One began to rapidly expand outside of Ohio. Its first out-of-state acquisition was of Purdue National Bank in Lafayette, Indiana which occurred just after the new laws went into effect. This bank was renamed Bank One Lafayette . This merger was quickly followed by the purchase of other small banks in Indiana and Kentucky, the only states that initially allowed bank purchases by Ohio-based banks. The bank entered Kentucky by acquiring Citizens Union National Bank & Trust Co. of Lexington, Kentucky , in 1986. This bank

2175-535: The city at-large, and four members are elected from wards. As of 2024, the members of the City Council are as follows: Painesville's Hispanic population increased elevenfold between 1990 and 2010. New residents were primarily immigrants from León, Guanajuato , the fourth-largest city in Mexico . They had settled in Painesville after finding work in its plant nurseries . As of the 2020 census, Painesville led

2250-472: The combined organization. Another change made in the corporate organization was the formation of a two-tiered management system with the formation of statewide holding companies that were placed in between the regional member banks and the ultimate Banc One parent holding company. So, in Indiana, American Fletcher Corporation became Indianapolis based Banc One Indiana and all member banks in Indiana, such as Bank One Lafayette, which previously reported directly to

2325-559: The departure of CEO John B. McCoy , whose father and grandfather had headed Banc One and predecessors. Jamie Dimon , a former key executive of Citigroup , was brought in to head the company. In 1998, Bank One paid $ 66 million for the naming rights for 30 years to a newly constructed ballpark in Phoenix , which was built for the Major League Baseball expansion team Arizona Diamondbacks . The retractable roof stadium

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2400-607: The economic crises worsen. The first banks to be acquired were 20 banks that were formerly owned by MCorp, which the FDIC had consolidated into a single bank that they named the Deposit Insurance Bridge Bank. The FDIC had seized the banks in March 1989. The failure of 20 of MCorp's 24 banks cost the FDIC $ 2.8 billion. MCorp was the second largest bank holding company in Texas at the time of its failure. MCorp

2475-636: The first in the Western Reserve . General Paine later represented the region in the territorial legislature of the Northwest Territory . In 1800 the Western Reserve became Trumbull County and at the first Court of Quarter Sessions, the county was divided into eight townships . The smallest of these townships was named Painesville, for General Paine, and encompassed what later became the townships of Perry, Leroy, Hambden, Concord, Chardon, Mentor, and Kirtland. The township government

2550-643: The former NBD offices. Banc One's first acquisition in a state that did not share a common border with the state of Ohio occurred in 1987 with the acquisition of Marine Corporation, the third-largest bank holding company in Wisconsin, after First Wisconsin Corporation and Marshall & Ilsley Corporation . The result of this merger brought into organization 21 banks and 76 offices in Wisconsin with Marine Corp. being renamed Banc One Wisconsin Corp. and each of

2625-497: The holding company for Valliwide Bank, formerly the Bank of Fresno. In May 1994, Banc One increased their holdings in Arizona by acquiring the 58 of 60 Arizona offices of the failed San Diego–based Great American Bank from the Resolution Trust Corporation for $ 49.36 million. The newly acquired offices were integrated into Bank One Arizona. In 1993, Banc One entered the state of West Virginia by acquiring Key Centurion Bancshares,

2700-432: The inn's basement. Fugitive slaves were able to rest and recharge before making their way across Lake Erie into Canada . Over the years, historians estimate that 3,000 former slaves came through Rider's Inn. The inn served as a meeting spot for the anti-slavery committee in town, and documents have been found detailing their abolitionist movement. After over two hundred years, and in its original location and building,

2775-421: The insolvency, though they kept on a few key MCorp staff whose leadership and connections were considered crucial to the transformation. Laws were changed in Texas that would allow Banc One, and other purchasers of failed banks, to operate a single bank statewide instead of being restricted by narrow geographical regions. The next acquisition that occurred in Texas was the purchase of the failed Bright Banc Savings

2850-426: The larger credit card issuers such as First USA. As more bank credit card accounts became concentrated in a few large issuers during the 1990s, fewer banks had credit card accounts to sell, so large issuers switched to direct marketing to obtain more cardholders. Those issuers started offering no annual fee cards with introductory interest rates that quickly increased after a set time. This led to fierce competition among

2925-726: The largest bank holding company in West Virginia with 54 offices throughout West Virginia and parts of eastern Kentucky, for $ 536 million in stock. Banc One entered into Oklahoma by acquiring the Central Banking Group in Oklahoma City, with its eight offices all located in Oklahoma City, for $ 96 million in stock in 1994. Thirty months later, Banc One entered Tulsa by the acquisition of Liberty Bancorporation of Oklahoma City for $ 546 million in stock in 1997. Liberty had 29 offices in Oklahoma City and Tulsa at

3000-661: The main parent in Columbus, reported to management in Indianapolis instead. The merger resulted in a $ 597.3 million swap of stock. The merger with American Fletcher Corp. also brought along four small banks that American Fletcher had just recently acquired or was in the process of acquiring. These banks included Citizens Northern Bank of Elkhart (Bank One Elkhart), Carmel Bank & Trust Co. (Bank One Carmel), First American National Bank of Plainfield (Bank One Plainfield), and Union Bank & Trust Co. of Franklin (Bank One Franklin). Under Indiana law at that time, American Fletcher

3075-505: The management of the holding company occurred in 1986 with the acquisition of Indianapolis-based American Fletcher Corporation , a multi-bank holding company, with its lead bank, American Fletcher National Bank & Trust Company , which resulted in giving 20% of the voting stock in the new company to the former managers of American Fletcher and also had Frank E. McKinney, Jr. , the head of American Fletcher, replaced John B. McCoy as president of Banc One Corp. and moved McCoy up to chairman of

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3150-864: The marketing efforts of its member banks by having all of its members banks adopt similar names. In October 1979, First Banc Group, Inc. became Banc One Corporation , and each member bank became Bank One followed by the city or the geographic area that the member bank served. For example, City National Bank was renamed Bank One Columbus , Security Central National Bank became Bank One Portsmouth , and Farmers Saving & Trust Company became Bank One Mansfield . In 1980, Banc One acquired banks in Painesville, Ohio (Lake County National Bank; Bank One Painesville), Akron, Ohio (Firestone Bank; Bank One Akron), and Youngstown, Ohio (Union National Bank; Bank One Youngstown). Winters National Bank in Dayton, Ohio ,

3225-509: The name Valley National Bank of Arizona (renamed Bank One Arizona), 35 offices in Utah operating under the name Valley Bank and Trust of Utah (renamed Bank One Utah), and 7 offices in California operating under the name California Valley Bank (renamed Bank One Fresno). Affiliated Bankshares was renamed Banc One Colorado and Valley National Corp. was renamed Banc One Arizona. Since all of

3300-482: The name "Painesville" was chosen in honor of General Paine. Two of his descendants, Eleazer A. Paine and Halbert E. Paine , later served as Union Army generals during the American Civil War . In 1840, Lake County, Ohio was created from portions of Geauga County and Cuyahoga County , and Painesville was made the county seat and a courthouse was erected. In 1852, the community of Painesville became

3375-782: The new bank holding company was the 1968 acquisition of the Farmers Saving & Trust Company in Mansfield, Ohio . With each acquisition, new member banks kept their name, employees, and management while obtaining new resources from the parent holding company. This is very important when the bank holding company was expanding into primarily rural and extremely conservative markets. In 1971, First Banc acquired Security Central National in Portsmouth, Ohio . Initially, Ohio law did not permit bank mergers across county lines but allowed bank holding companies to own multiple banks across

3450-470: The new offices in California were located in remote Fresno and far away from the large metropolitan areas of Los Angeles and San Francisco, Banc One had little opportunity to make a significant move into California and was not able to compete efficiently against California-based banks such as Bank of America and Wells Fargo. After two years of ownership, Banc One decided to withdraw from California market completely by selling Bank One Fresno to ValliCorp Holdings,

3525-564: The per capita income for a family of three is $ 79,086. As of the census of 2010, there were 19,563 people, 7,095 households, and 4,381 families living in the city. The population density was 3,110.2 inhabitants per square mile (1,200.9/km ). There were 7,867 housing units at an average density of 1,250.7 per square mile (482.9/km ). The racial makeup of the city was 68.2% White , 13.1% African American , 0.3% Native American , 0.8% Asian , 13.2% from other races , and 4.5% from two or more races. Hispanic or Latino of any race were 22.0% of

3600-441: The population. There were 7,095 households, of which 37.2% had children under the age of 18 living with them, 37.8% were married couples living together, 18.4% had a female householder with no husband present, 5.5% had a male householder with no wife present, and 38.3% were non-families. 29.9% of all households were made up of individuals, and 8.2% had someone living alone who was 65 years of age or older. The average household size

3675-525: The purchase of the American branch of the Italian bank Banco di Roma , which was rename Marine Bank Chicago. Since Minnesota and Illinois forbade the bank ownership by companies based in Ohio, Marine had to sell those banks before the merger was permitted to proceed. The Minnesota banks were sold to First Bank System while the Chicago bank was sold to a lawyer with the understanding that Banc One wanted

3750-485: The remaining credit card issuers, especially in the fight to attract lucrative customers: those who maintain large monthly revolving balances. These are the same customers who could cause problems for the bank if the local economy turns sour. At this time, First USA was generating profits as high as nearly 25% on its owners' investment, which was phenomenal since a return of 1% on its assets is usually considered great for most other sectors of banking. The high rate of return

3825-687: The state of Michigan in late 1986 by acquiring the Citizens State Bank in Sturgis, Michigan , and convert it into Bank One Sturgis. Within a few months of the Sturgis acquisition, additional acquisitions were quickly made in East Lansing, Michigan (East Lansing State Bank; Bank One East Lansing), Fenton, Michigan (First National Bank of Fenton; Bank One Fenton) and Ypsilanti, Michigan (National Bank of Ypsilanti; Bank One Ypsilanti)

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3900-412: The state of Ohio in the percentage of people speaking Spanish at home, with 20.2%. The racial distribution is as follows: White alone 57.1%, Black 14.7%, Hispanic 24.3%, Asian 1.3%, Indian .2%, Pacific Islander .2%, two or more races 9.3%. Educational attainment for residents 25 and older is the following: High School Diploma 84%, Bachelor's Degree of higher 20.7%. The medium household income is $ 51,373 and

3975-423: The state with some geographical restrictions. The newly acquired banks had to maintain their existing banking charters while each bank had to operate separately. Holding companies also were not allowed to have the word "bank" in their names so the word "banc" was used in its place. Although Ohio law still had restricted bank mergers outside a certain geographic area, the holding company management decided to unify

4050-481: The subsidiary Marine Banks were renamed Bank One along their respective affiliated geographical based name. The lead bank, Marine Bank, N.A., became Bank One Milwaukee. The merger came about Marine was trying to resist an unwanted acquisition attempt by Marshall & Ilsley that was initiated in June 1987 which would have resulted in massive firings. Prior to the unwanted overtures by Marshall & Ilsley, Marine went on

4125-424: The time of the acquisition in 1998, First Commerce was the largest Louisiana-based financial institution in the state. The acquisition included the lead bank First National Bank of Commerce plus five other regional banks with a combined total of 144 banking offices. All of the acquired banks were consolidated into Bank One Louisiana. In 1997, Banc One decided to expand its national credit card business by acquiring

4200-430: The time of the acquisition, Liberty National Bancorp was the largest bank holding company in Kentucky that was still headquartered in that state. Liberty National Bancorp was renamed Banc One Kentucky and its lead bank, Liberty National Bank and Trust Company of Kentucky, became Bank One Kentucky. As a result of the merger, Bank One Lexington was placed under the supervision of the new Banc One Kentucky holding company. In

4275-501: The time of the acquisition. Banc One entered Louisiana by acquiring the assets of Premier Bancorp of Baton Rouge, the third-largest bank holding company in the state with 150 offices, for $ 700 million in stock in 1996. Although the merger was consummated in January 1996, the relationship between the two organizations goes back much further. The just recently retired and former head of Premier, and its predecessor Louisiana National Bank,

4350-552: The village of Fairport Harbor and the city of Mentor , are adjacent to Painesville. Painesville has a hybrid between a humid subtropical and humid continental climate ( Köppen Cfa/Dfa ). In spite of the mild winter days, lake-effect snow usually brings a lot of accumulation in winter. Summers have warm days and quite muggy nights. Precipitation is high year-round. Painesville has a council-manager system of government. The City Council consists of seven members, who are elected for four-year terms. Three members are elected by

4425-759: Was 2.64 and the average family size was 3.33. The median age in the city was 30.2 years. 28.3% of residents were under the age of 18; 12.6% were between the ages of 18 and 24; 29.9% were from 25 to 44; 20.5% were from 45 to 64; and 8.7% were 65 years of age or older. The gender makeup of the city was 50.3% male and 49.7% female. Public education in the city of Painesville is provided by the Painesville City Schools , which includes Red Raider Preschool; Chestnut Elementary School, Elm Street Elementary School, and Maple Elementary School (all grades K–5); Heritage Middle School (grades 6–8) and Thomas W. Harvey High School (grades 9–12). Hershey Montessori School

4500-568: Was Charles "Chuck" McCoy, the younger brother of John G. McCoy and uncle to John B. McCoy. In 1991, Premier received $ 65 million from Banc One to help cover its debts in an exchange for the right for Banc One to acquire Premier within the next five years. Premier acquired most of its debts during the economic downturn that had hit Louisiana during the late 1980s. Premier Bancorp became Banc One Louisiana and Premier Bank became Bank One Louisiana. The following year, Banc One acquired First Commerce Corporation of New Orleans for $ 3.5 billion in stock. At

4575-633: Was acquired in 1982 and renamed Bank One Dayton . The merger with Winters National Corporation brought into the Bank One organization 42 Winters National Bank & Trust Co. branch offices in the greater Dayton area, a branch in Cincinnati and three offices in Circleville. Also added were 21 Euclid National Bank branch offices in the Cleveland area which were renamed Bank One Cleveland. With

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4650-513: Was appointed a Banc One director while First USA president and co-founder Richard Vague was appointed chairman and CEO of First USA. In 1998, Banc One Corporation merged with Chicago-based First Chicago NBD  – the result of the 1995 merger of First Chicago Corp. and NBD Bancorp , two large banking companies who had themselves been created through the merger of many banks ) – to form Bank One Corporation, and moved its headquarters from Columbus to Chicago. Adverse financial results led to

4725-496: Was called Bank One Ball Park , and was ultimately renamed '''Chase Field''' in 2005. In 2001, Dimon selected former colleague Dick Cashin, from Citicorp Venture Capital to run a new private equity effort within Bank One, One Equity Partners . Dick Cashin is the brother of Steven Cashin, founder and CEO of Pan African Capital Group, based in Washington, D.C. In 2005, Bank One's private equity affiliate, One Equity Partners ,

4800-496: Was formed in 1984 through the merger of Mercantile National Bank of Dallas with Bank of the Southwest of Houston with Mercantile becoming MBank Dallas and Southwest becoming MBank Houston. After the acquisition, the Deposit Insurance Bridge Bank became Bank One Texas with Banc One Texas formed as the state holding company. Banc One brought in managers from other parts of the Banc One organization to correct mistakes which led to

4875-566: Was made four months later in which $ 43 million was raised in the stock sale. At the time of the IPO in 1992, First USA was the 14th-largest issuer of credit cards in the nation. Most of the growth of the company during the 1980s and early 1990s were the results from the acquisition of credit cards accounts from banks needing to sell some assets for quick cash to stave off insolvency, or from banks that had ceased issuing and servicing their own credit cards accounts because they either could not compete with

4950-683: Was not permitted to merge these banks into its main American Fletcher National Bank. The First National Bank of Bloomington in Bloomington, Indiana , was acquired in 1987. This bank became Bank One Bloomington. With the acquisition of the Bloomington-based bank, Banc One temporarily ceased further acquisitions in the state in Indiana since they had reached that state's cap of the percentage of ownership within that state at that time. Bank One expanded into

5025-402: Was on the second floor of the tower, but ceased operations in December 2020. In June 2021, the law firm Taft Dayton signed a deal for a 15-year lease at Stratacache Tower, with plans to renovate the building's 16th and 17th floors to increase its office space, as well as opening a 3,900 foot Taft Center on the building's first floor, intended for use for meetings, conferences and events, serving as

5100-435: Was one of the factors that attracted Banc One to the acquisition of First USA. Banc One first announced the proposed acquisition of First USA in January 1997. Wall Street reaction to news caused Banc One's stock to drop 8%. First USA was the fourth-biggest credit card issuer in the nation at the time of the announcement. The acquisition was finalized six months later. First USA Chairman and co-founder (in 1985) John Tolleson

5175-424: Was organized in 1802. The post office in Painesville was opened in 1803 with John Walworth as postmaster. In what was to become the commercial center of the township was a settlement called Oak Openings, its name being descriptive of the scrub oaks and sandy soil. It was here in 1805 that Gen. Henry Champion laid out a village plat and called it Champion, a name that it carried only until incorporation in 1832, when

5250-582: Was renamed Lomas Bankers Corp. and MBank USA was renamed Lomas Bank USA . Under Lomas, the credit card company aggressively acquired new customers by purchasing credit card accounts from other credit card issuers. In 1987, Lomas Bank USA acquired 230,000 accounts from two banks in Louisiana, 23,000 accounts from a bank in Amarillo, 260,000 accounts from two banks in Oklahoma, and 90,000 accounts from

5325-699: Was renamed Bank One Lexington. Banc One acquired the Merrillville, Indiana –based Bank of Indiana and rename it Bank One Merrillville in early 1986. This was quickly followed by acquisitions in Marion, Indiana (First National Bank of Marion; Bank One Marion), Crawfordsville, Indiana (First National Bank and Trust Co. of Crawfordsville; Bank One Crawfordsville), Rensselaer, Indiana (Northwest National Bank of Rensselaer; Bank One Rensselaer) and Richmond, Indiana (First National Bank of Richmond; Bank One Richmond). The first major merger that had an effect on

5400-501: Was renamed First USA, Inc. and Lomas Bank USA was renamed First USA Bank. At the time of the Merrill Lynch acquisition in 1989, Lomas Bankers–First USA was the 11th-largest issuer of credit cards in the nation. In 1992, First USA reduced some of its debt by going public. First attempt to sell stock occurred in late January, but the offer was quickly withdrawn because the stock market had dropped too low. A more successful attempt

5475-458: Was selected to be the exclusive private equity affiliate for the combined firm, prompting the spinout of JPMorgan's private equity affiliate, which is today CCMP Capital . Painesville, Ohio Painesville is a city in and the county seat of Lake County, Ohio , United States, located along the Grand River . It is a northeast suburb of Cleveland . Its population was 20,312 at

5550-442: Was unusual in Texas during this period since Team was making a profit at the time of sale. Compared to other states, Illinois was very slow to allow statewide branching and multi-bank holding companies. When Illinois finally removed its last prohibition on interstate banking in December 1990, the first thing that Banc One did was to complete its planned acquisition of Marine Bank Chicago in downtown Chicago. In 1992, Banc One acquired

5625-435: Was used as the location for the filming of the 1964 feature film One Potato, Two Potato . The film, which was selected at that year's Cannes Film Festival , provides a glimpse of the era in the city's downtown, featuring its central park and surrounding architecture. The Lake County Courthouse and Painesville City Hall remain today. The historic Parmly Hotel, which is seen in the opening credits and occasionally throughout

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