MBNA was founded in 1982 by a group of MNC Financial (regional bank holding company headquartered in Baltimore, Maryland) executives headed by Charles Cawley. Its first office was housed in a converted A&P;
supermarket in Ogletown, Delaware. Until his death, Cleveland Browns owner Al Lerner served as Chairman of the Board.
On June 30, 2005, MBNA announced that it was being acquired by Bank of America
for stock and cash totaling more than $35 billion. The deal was closed on January 1, 2006. The acquisition resulted in MBNA being re-named to Bank of America Card Services while still based in Delaware. For the first part of 2006, MBNA (http://www.mbna.co.uk) still issued credit cards under its own name associated with Mastercard, VISA, and American Express
, but by the second half of 2006, all card products were re-branded as Bank of America.
On June 10, 2006, MBNA changed its name to FIA Card Services, National Association (FIA). On October 20, 2006, Bank of America, National Association (USA), a subsidiary of Bank of America Corporation, merged with and into FIA. In 1993, NationsBank bought MNC Financial (whose credit card division was spun off years earlier to become MBNA). Five years later, the Bank of America that exists today was the result of the merger between the San Francisco-based Bank of America and the Charlotte-based NationsBank. In 2005, with Bank of America buying MBNA, it is in effect reuniting MNC Financial's credit card portfolio to its original banking assets and combining the Bank of America credit card portfolio with MBNA's.
Close Up of Vignettes:
Cumulative Preferred Series A Stock, specimen, late 1900’sPrinter: American Bank Note Company Dimensions:
8” (h) x 12” (w)State: DE-Delaware Subject Matter: Finance and Related
| Banks and Credit Unions
| Specimen Pieces Vignette Topic(s): Male Subject
| Female Subject
| Stately Buildings
| Multiple Scenes Condition:
No fold lines, punch hole cancels in signature areas and body, very crisp.