The Bank of America Award for Teaching Excellence was first presented in 1968 to recognize outstanding faculty members at The University of North Carolina at Charlotte. It was established in response to a suggestion by the staff of the student literary magazine.

Vice Chancellors Bonnie E. Cone and W. Hugh McEniry endorsed the students' proposal for the annual award and presented it to Chancellor Dean W. Colvard. Chancellor Colvard found financial support for the award through the generosity of Addison H. Reese and NCNB, a predecessor to NationsBank and Bank of America.