Citizens & Southern National Bank
Citizens & Southern National Bank was a major American southeastern bank whose successor organizations ultimately became part of Bank of America.
Last updated November 4, 2026
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Overview
Citizens & Southern National Bank, commonly known as C&S, was a prominent American banking institution based in Atlanta, Georgia. Its origins lay in Savannah, where Citizens Bank of Savannah, founded in 1887, merged with the Southern Bank of Georgia in 1906. Mills B. Lane, who had joined Citizens Bank as a vice president and director in 1891 and became its president in 1901, was central to the combination and to the development of the resulting bank. The merged institution was initially known as Citizens and Southern Bank of Georgia. C&S expanded through acquisitions and branch growth, becoming one of the leading banks in the southeastern United States. In 1922 it absorbed Central Bank and Trust Corporation, an Atlanta institution founded by Coca-Cola co-founder Asa Griggs Candler. The bank also established a South Carolina presence. In 1927 it received a national banking charter in preparation for operating there, and in 1928 the former Atlantic Savings Bank and Atlantic National Bank in Charleston were renamed Citizens and Southern Bank of South Carolina. The South Carolina organization became an important regional bank in its own right. Federal restrictions on interstate banking led the Georgia and South Carolina organizations to operate as separate corporate entities from 1940. The separation did not prevent continued expansion. C&S of South Carolina merged with Growers Bank and Trust of Inman in 1956, and in 1960 introduced computer systems that supported more efficient operations and helped make free checking available to qualifying customers. In Georgia, Mills B. Lane Jr. and Hugh C. Lane were major figures in the bank's postwar development. Mills B. Lane Jr. served in senior leadership roles from 1946 through 1973, during which C&S became the largest bank in the South and one of the most profitable among the largest American banks. The bank's regional strategy accelerated in the 1980s. C&S of Georgia acquired Landmark Banks of Florida in 1985, converting the business into Citizens & Southern National Bank of Florida. In the same period, Citizens and Southern Georgia Corporation agreed to acquire the South Carolina organization for approximately $400 million, completing the reunification in 1986. The reunited group reported substantially larger assets than either predecessor had held separately. Its associated businesses included real-estate, computer-services, and housing corporations. C&S operated during a period of rapid consolidation in southeastern banking. The Southeastern Regional Banking Compact encouraged institutions with primarily southern deposits to acquire one another while limiting entry by large banks from other regions. C&S entered merger discussions with First Federal Savings Bank of Brunswick, Georgia, in 1988, but the discussions ended without an agreement. It then pursued a defensive combination with Sovran Financial Corporation of Norfolk, Virginia. Completed in 1990, the transaction created C&S/Sovran, a super-regional bank with dual headquarters in Atlanta and Norfolk and operations across several southeastern and mid-Atlantic states. The merger did not produce the stability its architects had intended. Differences between the Atlanta and Virginia management groups complicated integration, while problem loans inherited from Sovran weakened the combined institution. NCNB Corporation, a rapidly expanding Charlotte-based bank, mounted a hostile takeover effort and ultimately acquired C&S/Sovran in 1991 through a stock transaction. The resulting company was named NationsBank. C&S/Sovran disappeared as an independent banking organization, although its branches, employees, assets, and regional franchise contributed to NationsBank's growth. NationsBank later acquired BankAmerica Corporation and adopted the Bank of America name, making the C&S lineage part of the corporate history of today's Bank of America. C&S also left a physical mark on Atlanta and Charleston. Its former Atlanta headquarters included the 1901 building now associated with Georgia State University's J. Mack Robinson College of Business. A later C&S Bank Tower, completed in the late 1960s, was dismantled after the opening of NationsBank Plaza. A historic Charleston building at 50 Broad Street, originally constructed in 1798 as the Bank of South Carolina, was acquired by C&S in 1966 and later became a private office building. These properties illustrate the bank's transition from a local Georgia institution into a large southeastern financial group before its absorption into a larger national banking network.
History
Citizens & Southern National Bank developed from the consolidation of two Savannah institutions. Citizens Bank of Savannah began operations in 1887, while the Southern Bank of Georgia was its local rival. Mills B. Lane, a Citizens Bank executive who became president in 1901, led the purchase of Southern Bank in 1906. The resulting institution was named Citizens and Southern Bank of Georgia and used acquisitions to establish a wider regional presence. One notable early transaction was the 1922 absorption of Central Bank and Trust Corporation, an Atlanta bank founded by Asa Griggs Candler. C&S subsequently prepared to extend its operations into South Carolina. Its national banking charter was issued in 1927, and in 1928 the Charleston-based Atlantic Savings Bank and Atlantic National Bank were renamed Citizens and Southern Bank of South Carolina. The South Carolina franchise initially operated from Charleston and became a separately important local institution. The two C&S organizations were separated in 1940 because federal rules restricted banks from operating across state lines. Both continued to grow independently. South Carolina C&S acquired Growers Bank and Trust in 1956. It installed computer systems in 1960, using the technology to improve operating efficiency and support a free-checking offer for customers meeting a stated balance requirement. In Georgia, Mills B. Lane Jr. and Hugh C. Lane shaped the institution's postwar expansion. Mills B. Lane Jr. held the positions of president, vice chairman, and chairman between 1946 and 1973, and under this leadership C&S became the largest bank in the South and a highly profitable large American bank. During the 1980s, the relaxation of regional banking barriers encouraged a wave of southeastern consolidation. C&S acquired Landmark Banks of Florida in 1985 and renamed the resulting Florida operation. The Georgia organization also agreed to purchase the South Carolina C&S, completing the reunification in 1986. The combined franchise included affiliated real-estate, computer-services, and housing companies and operated across an increasingly broad southeastern market. C&S then entered a more defensive phase. After unsuccessful discussions with First Federal Savings Bank of Brunswick, Georgia, and amid an aggressive expansion campaign by NCNB Corporation, C&S merged with Sovran Financial Corporation in 1990. C&S/Sovran had dual headquarters and a branch network spanning Georgia, Florida, South Carolina, Virginia, Tennessee, Kentucky, and the District of Columbia. The transaction was intended to make the institution too large and financially substantial to be acquired. Integration problems undermined that objective. Management conflict between the Atlanta and Virginia groups was accompanied by concerns about Sovran's problem-loan portfolio. NCNB, which had itself expanded through acquisitions, treated C&S/Sovran as vulnerable and acquired it in 1991. The resulting institution became NationsBank, headquartered in Charlotte. NationsBank later acquired BankAmerica Corporation and adopted the Bank of America identity. Consequently, the C&S franchise survives institutionally through the succession of C&S/Sovran, NationsBank, and Bank of America rather than as a separate brand. The bank's architectural legacy includes its former Atlanta headquarters, a 1901 steel-framed building now associated with Georgia State University's J. Mack Robinson College of Business. C&S also occupied a distinctive Atlanta tower completed in the late 1960s. In Charleston, the bank acquired the 1798 building at 50 Broad Street, originally built for the Bank of South Carolina. These locations reflect both the institution's local origins and its later regional scale.
- 1998
NationsBank adopts the Bank of America name
[1]After acquiring BankAmerica Corporation, NationsBank adopts the better-known Bank of America identity, extending the corporate succession from C&S.
- 1991
C&S/Sovran becomes part of NationsBank
[1]NCNB Corporation acquires C&S/Sovran, ending the independent C&S corporate identity.
- 1990
C&S merges with Sovran Financial
[1]The defensive merger forms C&S/Sovran, a large regional bank with dual headquarters.
- 1986
The two C&S organizations reunite
[1]The Georgia and South Carolina banking organizations become part of a reunited C&S group.
- 1985
Florida expansion and South Carolina acquisition agreed
[1]C&S acquires Landmark Banks of Florida and agrees to acquire the South Carolina C&S organization.
- 1966
C&S acquires the historic 50 Broad Street building
[1]C&S purchases the historic Charleston building constructed in 1798 as the Bank of South Carolina.
- 1960
Computerized banking and free-checking program introduced
[1]C&S of South Carolina installs computer systems and offers free checking to customers meeting a monthly minimum-balance condition.
- 1956
South Carolina C&S acquires Growers Bank and Trust
[1]The South Carolina organization expands through the acquisition of the Inman, South Carolina bank.
- 1940
Georgia and South Carolina entities separate
[1]Federal interstate-banking restrictions result in separate Georgia and South Carolina corporate organizations.
- 1928
South Carolina banking operations adopt the C&S name
[1]Atlantic Savings Bank and Atlantic National Bank in Charleston become Citizens and Southern Bank of South Carolina.
Products and positioning
A large, relationship-oriented southeastern commercial bank that grew from Georgia and South Carolina roots into a major regional banking franchise through acquisitions, interstate expansion, and defensive mergers.
Retail banking
Checking accounts
C&S offered conventional transaction accounts through its branch network. The South Carolina organization used computerization introduced in 1960 to improve account administration and support a free-checking arrangement for customers who maintained a stated minimum balance.
Business banking
Commercial banking
Commercial banking was central to C&S's identity as a regional institution. Its expansion across Georgia, South Carolina, Florida, and other southeastern markets gave businesses access to deposits, credit, lending relationships, and branch-based financial services under a single regional franchise.
Lending
Real-estate and housing finance
The C&S group maintained affiliated real-estate and housing companies alongside its banking operations. These businesses complemented the bank's lending franchise and reflected its participation in residential, commercial, and property-related finance.
Banking technology · 1960
Computer services
C&S operated a computer-services affiliate and adopted computerized systems in its South Carolina operations in 1960. Technology was used to increase processing efficiency and support the administration of retail banking accounts.
Marketing campaigns
- 1991C&S of Florida Super Season campaign
Florida · United States
Reference material identifies a C&S of Florida 'Super Season' marketing campaign during the period when the bank was expanding its Florida franchise. The available material does not provide sufficient detail about the creative execution, media plan, or specific offer.
Brand decisions
1991
Accept acquisition by NCNB CorporationM&ABackground
C&S/Sovran experienced integration difficulties and carried problem loans associated with Sovran. NCNB viewed the combined institution as financially vulnerable.
Action taken
NCNB acquired C&S/Sovran through a stock-swap transaction and formed NationsBank.
Aftermath
C&S ceased to exist as an independent bank. Some branches were subsequently sold to other institutions, while the wider franchise became part of the corporate lineage leading to Bank of America.
Transaction value. $4.259 billion stated value (1991 announcement)
1990
Merge with Sovran Financial to resist NCNBM&ABackground
NCNB Corporation had begun accumulating C&S stock and pursuing a hostile takeover. C&S sought greater scale through a combination with Sovran Financial Corporation.
Action taken
C&S merged with Sovran Financial Corporation, creating C&S/Sovran with dual headquarters in Atlanta and Norfolk.
Aftermath
The new bank had a broad southeastern and mid-Atlantic footprint, but management conflict and problem loans left it vulnerable to NCNB's subsequent acquisition.
- NCNB Corporation — NCNB continued its acquisition campaign and ultimately acquired C&S/Sovran in 1991.
1986
Reunite the Georgia and South Carolina C&S organizationsM&ABackground
The two C&S organizations had operated separately since 1940 because of federal restrictions on interstate banking. The gradual relaxation of regional banking barriers made reunification possible.
Action taken
Citizens and Southern Georgia Corporation acquired Citizens and Southern National Bank of South Carolina, completing the combination in 1986.
Aftermath
The transaction restored a unified C&S regional franchise and supported further expansion into Florida and other southeastern markets.
Acquisition price. $400 million announced consideration (1985 agreement; completed in 1986)
Recent events
- 1991
NCNB acquires C&S/Sovran and creates NationsBank[1]
M&A · Leadership change
NCNB Corporation acquired the weakened C&S/Sovran in a stock transaction and renamed the combined company NationsBank. The transaction ended C&S as an independent banking organization.
- 1990
C&S and Sovran combine to create C&S/Sovran[1]
M&A
C&S acquired Sovran Financial Corporation in a defensive regional merger intended to create a bank large enough to resist a hostile approach from NCNB Corporation.
- 1986
C&S reunites its Georgia and South Carolina banking organizations[1]
M&A
Citizens and Southern Georgia Corporation completed the acquisition of Citizens and Southern National Bank of South Carolina, reversing the corporate separation created by federal interstate-banking restrictions in 1940.
- 1985
C&S acquires Landmark Banks of Florida[1]
M&A
The Georgia organization acquired Landmark Banks of Florida and operated the acquired franchise under the Citizens & Southern National Bank of Florida name.
Sources1 sources
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