July 25, 1995 |
Bank of Boston Corp. lost a third potential suitor when Banc One Corp. said Monday that it has withdrawn a $5-billion takeover offer. The announcement came just a day after CoreStates Financial Corp. and Bank of Boston called off a $4.2-billion merger that had been coolly received on Wall Street. Before that, Mellon Bank Corp. had been talking with Bank of Boston about a merger that was scrapped in favor of the aborted CoreStates deal.
February 12, 1985
Calling their failure to report $1.22 billion in overseas currency transactions "a simple mistake," First National Bank of Boston officials vehemently denied that the transactions were linked to organized crime. In a Monday story, the Wall Street Journal reported that federal prosecutors were alerted to the bank's unreported transactions during a criminal investigation into cashier's checks purchased by members of a reputed organized crime family in Boston.
March 28, 1985
The bank has faced federal investigators and congressional inquisitors, state politicians and the press. Now, embattled First National Bank of Boston must answer to its shareholders about the tumultuous events of the past two months. The bank's annual meeting today will give any of its 15,000 shareholders the chance to grill President William Brown about the controversy that has plagued the bank since February, when it pleaded guilty to violating international banking regulations.
May 19, 1992 |
Bank of Boston Unveils Loan Program: The bank said it was earmarking at least $3 billion in loans to small businesses to stimulate economic growth. The credit initiative, announced at news conferences in Boston and Hartford attended by the governors of Massachusetts and Connecticut, is aimed at easing a credit crunch that has hamstrung a recovery in the six-state region.
June 14, 1996 |
Bank of Boston, the nation's 18th-largest bank, said it plans to offer early retirement to 1,500. The move is an attempt to cut costs before it buys cross-town rivals BayBanks Inc. and South Boston Savings Bank.