The Legal Giants that Propelled North Carolina Banks to National Prominence: Paul J. Polking, Marion a. Cowell, and Jerone C. Herring
22 Pages Posted: 25 Feb 2005
Paul J. Polking, Marion A. Cowell, Jr., and Jerone C. Herring served distinguished careers as the general counsel of North Carolina's three largest banking corporations, Bank of America, First Union (now Wachovia), and BB&T. The combined assets of these banks and others located in North Carolina make it the second largest banking state behind New York.
The article briefly describes the remarkable careers of these three gentlemen. Each joined their bank in the early 1970s as young lawyers in small legal departments (or in Herring's case, the only lawyer) and helped engineer the expansion of their companies in a way that is hard to imagine being repeated in any industry today. Each bank, in its own way, helped to break down the barriers to interstate banking and branching. Each of these three distinguished lawyers remained at their institutions until their respective retirements, amassing between them ninety-three years of service. Their contributions to banking law in general and to the success of their banks in particular are truly remarkable and worthy of celebration.
Keywords: Banking, Interstate banking, Interstate branching
JEL Classification: G2, G21, K2, K21
Suggested Citation: Suggested Citation