NCNB Cuts Prime Rate: Charlotte, N.C.-based NCNB...

NCNB Cuts Prime Rate: Charlotte, N.C.-based NCNB Corp., one of the nation’s largest regional banks, cut its prime rate to 10.5% from 11%, becoming the first major bank to act since Chase Manhattan Corp. lowered its prime July 10. M&T; Bank, a subsidiary of Buffalo-N.Y.-based First Empire State Corp., lowered its prime rate. The prime rate, the rate banks charge their best commercial customers for short-term loans, is also the basis of many other loans, including many adjustable-rate mortgages.