Prior to the completion of the stadium, the Panthers played its home games at Clemson University's Memorial Stadium during the 1995 season, the team's first year as a franchise. The stadium was completed in mid-1996 with the Panthers taking the field for the first time in a regular season on September 14, 1996.
Bank of America Stadium is owned and operated by Panthers Stadium LLC. The facility was designed by an international architectural firm named Populous (formerly HOK Sport) and engineering services were provided by Bliss and Nyitray, Inc. and Lockwood Greene. Turner Construction Company and F.N. Thompson, Inc. served as co-general contractors on the project, which came in at a total cost of $248.0 million.
When the stadium was first placed into service, it proudly carried the name Carolinas Stadium. In 2004, the stadium's naming rights were purchased by Swedish telecom company LM Ericsson and the name was changed to Ericsson Stadium. With the naming rights contract due to expire in 2014, Ericsson opted out and a new 20-year contract was signed with Bank of America. Fans in the Charlotte area now affectionately refer to the facility as "The Bank."
As should be expected, the stadium has undergone several renovations through its first 19 years of existence. The first major renovation came in 2007 with the installation of 31.5 x 77 ft high-definition monitors and ribbon boards. As the city announced plans to submit bids to host a future Super Bowl, Charlotte's city council approved a $87.5 million renovation project to be completed over the next few years. The plans called for new escalators, a upgrade on the sound system and complete renovation of 158 luxury suites. Aside from hosing Carolina Panther games, the facility has been used for several other major sports events. It currently plays host to the "Belk Bowl," part of the NCAA Football's post-season bowl game schedule. The game contractually pits two teams selected from the Atlantic Coast Conference and South Eastern Conference. Other major sporting events that have been held in Bank of America Stadium include the NCAA Men's Soccer Championship (1999 and 2000) as well as several other major international soccer matches. It should also be noted the facility has hosted a variety of NCAA regular season games featuring local teams like the East Carolina Pirates and the South Carolina Gamecocks.