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Charlotte NC--A Financial Powerhouse

By Debe Maxwell, CRS

Real Estate Agent with Savvy + Company (704) 491-3310 228209

November 02, 2008 01:30 PM

Charlotte NC is renowned for its vibrant banking sector. With more than $2 trillion in assets, it is the second largest financial center in the nation, behind only New York. By comparison, Atlanta has assets of only $183 billion and Miami $0.8 billion. One of the nation’s largest banks, Bank of America (and THE largest mortgage lending institution) is headquartered here. In total, 20 banks with more than 229 local branches, as well as a Federal Reserve Branch, are located in Charlotte. Charlotte banks provide a wealth of services to commercial and individual customers and are leaders in the financial services industry.

Businesses have many options when dealing with firms ranging from large bank holding companies, offering diverse financial services with operations throughout the world, to small locally operated companies who often specialize in one particular financial service. The nation’s top 15 banks operate in Charlotte and ranks first nationally in total deposits.

Charlotte NC Uptown

The Bank of America Corporate Center is an 871 foot, 60-story skyscraper in Uptown. When completed in 1992, it became, and remains the tallest building in North Carolina as well as the tallest one between Philadelphia and Atlanta. It is the 24th tallest building in the U.S and the 63rd tallest building in the world. Designed by Argentine architect César Pelli and HKS Architects, it is the most widely known building in the Charlotte skyline.

Debe in Charlotte

About the author:

Debe Maxwell is a Charlotte Residential Real Estate Broker, Certified Neighborhoor & Relocation Specialist, ABR & e-PRO who can assist you with the purchase and/or sale of real estate in the Charlotte NC Metro Area. If you're relocating to or from any other area of the country, Debe connects you with any member of her team of relocation professionals in your destination or exit city of choice. The destination service is of no cost to you! The Maxwell House Group's quality service guarantee puts this team far ahead of the competition; providing unsurpassed customer service is their #1 priority! Debe Maxwell -- Helen Adams Realty -- 704.491.3310

Disclaimer: All information provided by this author is strictly an opinion, is not guaranteed, may be based on information collected from several sources, which may or may not be deemed reliable at the time of researching this article and may be time sensitive.

Let's go shopping for Charlotte NC homes for sale!

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Jamie Dumaine-Russell

RE/MAX Alliance - Branford, CT

Debe - I always learn something new when I read your posts. I never knew Charlotte was second to New York City with the amount of banking institutions. Very interesting!

Nov 02, 2008 02:19 PM

Teresa Harris

Lake Real Estate, LLC - Denver, NC

Denver . Lake Norman . Charlotte

Hey Debe! Your Charlotte photos are really nice. Charlotte has a beautiful skyline and the Bank of America building is really special... Isn't it amazing that you can be at so many different locations and see the Bank of America building in the background...

Nov 02, 2008 03:45 PM

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

Hi Donna! I'm glad that you learned something--I learned something about November yesterday too!! Yes, we used to be an industrial/textile area and have gone into, primarily, a financial center. That is why we were hit so hard with the Wachovia news. Now that it's not Citigroup taking them over, we will be able to keep our standing in the U.S. (THANKFULLY!)

Hi Teresa! You know that everytime I go out, I have my camera--and everytime I drive towards Uptown, I think that I can get a 'better' shot of the city! I have, literally, hundreds of shots and I think that some see them and think they're the same! But, you and I know the difference!

As for the Bank of America building--have you flown into Charlotte and seen that view? OMG, I get goose bumps! I just LOVE this city and to know what we came from to now, just makes my heart swell everytime I see that skylline!

Nov 03, 2008 12:11 AM

Fred Carver Real Estate Consulant

Retired BC Realtor - Victoria, BC

Accredited Real Estate Consultant

Hi Debe...Great Story on your Banking in Charlotte, Wow that a Tall Building the Bank of America has?

Cheers, thanks for sharing your story on the Banking in Charlotte NC

Nov 03, 2008 02:54 AM

Hi Fred! Yes, it's a VERY tall building! It towers over the city and how fitting, right--it's the main powerhouse bank in the U.S. after Citigroup!

Nov 03, 2008 04:08 AM

Russell Lewis

Realty Austin, Austin Texas Real Estate - Austin, TX

Broker,CLHMS,GRI

Debe I knew that North Carolina was a center for banking but had no idea to what degree. I imagine that with the down turn your area will still be in the center of things but with fewer (larger) institutions as banks are merged and are bought. I have owned BOA stock for years going back to when it was NCNB (or as it was referred to during the REO days in Texas as "No Cash For Nobody..." Whatever, they have certainly done well over time and managed to be one of the healthiest institutions during the current melt down. Have a good day.

Nov 05, 2008 11:17 PM

Charlotte NC--A Financial Powerhouse