Banker lost $900 million this year thanks to faltering banking and construction industries; his 32 million Bank of America shares down 35% in past 12 months, still worth $1 billion. Studied economics at U. of North Carolina, then Harvard M.B.A. Took over father's ailing Bank of North Carolina before 1982 NCNB merger that would later become Bank of America. Owns National Gypsum, C.D. Spangler Construction.