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The Latest: Firm, bank pleased with Superman Building deal

FILE - In this March 27, 2013, file photo the Bank of America Building, center, also known as the Superman building, stands among other buildings in downtown Providence, R.I. A $54 million lawsuit over Rhode Island's tallest building has been settled just before a trial was scheduled to begin in federal court. A trial had been set to begin Monday, May 8, 2017. (AP Photo/Steven Senne, File)

PROVIDENCE, R.I. (AP) — The Latest on the city’s tallest building, called the Superman Building (all times local):

7 p.m.

A Massachusetts-based company and a North Carolina-based bank say they’re pleased to have settled a $54 million lawsuit concerning a Rhode Island city’s tallest building, called the Superman Building.

Newton, Massachusetts-based High Rock Westminster Street says it wants to make the most of its ownership of the 26-story building in Providence.

Charlotte, North Carolina-based Bank of America says it looks forward to continuing its partnership with Providence and its residents.

High Rock had sued Bank of America, saying the bank allowed the building to fall into disrepair. Bank of America countered it spent millions of dollars on maintenance before it moved out four years ago.

A trial had been set to begin Monday.

Details of their settlement haven’t been released.

___

3:50 p.m.

A $54 million lawsuit over Rhode Island’s tallest building, called the Superman Building, has been settled just before a trial was scheduled to begin in federal court.

The owner of the Providence skyscraper had sued Bank of America, saying the bank allowed it to fall into disrepair. The Charlotte, North Carolina-based bank countered that it spent millions of dollars on maintenance before it moved out four years ago.

A trial had been set to begin Monday.

The amount of the settlement hasn’t been disclosed.

The building is owned by High Rock Westminster Street. It has been vacant for years and has become a symbol of the state’s economic decline.

It was the tallest skyscraper in New England when it opened in 1928 as the Industrial National Bank Building and became the most recognizable feature on the Providence skyline.

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