Is Banc One Corp. changing it stripes? Recent cost-cutting initiatives have been perceived by some as the company's first step toward consolidation.
Not so, says John B. McCoy. "We are a super community bank. We are not in the business of making $100 million loans. Our customer is the guy at the hardware store who needs a $100,000 loan. And we believe in decentralization of decision-making at the local level. It works for us; that's how we compete with centralized institutions."