Atlantic National Bank
| Company type | Private |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1903 |
| Founder | Edward W. Lane, Thomas P. Denham, Fred W. Hoyt |
| Defunct | 1985 |
| Fate | Acquired by First Union |
| Headquarters | Jacksonville , United States |
| Products | Banking services |
The Atlantic National Bank was a financial institution in the United States, with its main office located in Jacksonville, Florida. Established in 1903, it continued operations until being acquired by First Union in 1985. Subsequently, First Union adopted the name Wachovia Corporation following its acquisition of Wachovia National Bank, and this combined organization was ultimately purchased by Wells Fargo in 2008. The bank is notable for developing two prominent structures in Downtown Jacksonville: the building now known as 121 Atlantic Place (previously the Atlantic National Bank Building) and the Schultz Building (formerly the Atlantic National Bank Annex).
History
Atlantic National Bank was founded by a group including Edward W. Lane, railroad entrepreneur Thomas P. Denham, and Fred W. Hoyt, quickly establishing itself as a prominent regional banking entity. It extended its reach nationally by forming correspondent banking partnerships with institutions throughout the United States, notably including Wells Fargo based in San Francisco.
Originally operating out of the Dyal-Upchurch Building in downtown Jacksonville, the bank commissioned construction of its dedicated headquarters—the Atlantic National Bank Building, now referred to as 121 Atlantic Place—between 1908 and 1909. Upon completion, this structure was the tallest in Florida. Continued expansion led to the erection of an annex behind the main building in 1926, known then as the Atlantic National Bank Annex and today called the Schultz Building. Both buildings are recognized as important historical landmarks within Jacksonville.
Leadership transitioned in 1961 when Edward Lane, Jr., son of one of the founders, assumed the role of president and later became chairman of the parent company in 1976. During his tenure, the bank’s assets expanded to $3.9 billion. In 1985, he orchestrated the merger with Charlotte-based First Union, a strategic move that facilitated First Union’s growth prior to its eventual acquisition by Wachovia and subsequently Wells Fargo.