NationsBank Corporation
Charlotte, NC 28255
Tel 704-386-5000


Pricing Supplement No. 0165 Dated March 5, 1997   Rule 424(b)(2)     
(To Prospectus dated July 12, 1996 and            File number:  333-7229
Prospectus Supplement dated November 8, 1996)              


Subordinated Medium-Term Notes, Series F                     
Due Nine Months or More From Date of Issue                   

Principal Amount:                                    $  50,000,000.00
Issue Price:                             100.000%    $  50,000,000.00
Commission or Discount:                    0.140%    $      70,000.00
Proceeds to Company:                      99.860%    $  49,930,000.00


Agent:                            NationsBanc Capital Markets, Inc., as
                                  Agent     
                                                               

Original Issue Date:              March 07, 1997       
Stated Maturity Date:             March 07, 2037       

Cusip #:                          63858S-BC-2    

Form:                             Book entry only         

Interest Rate:                    6.975% Fixed                    

Interest Payment Dates:           7th of March and September, commencing
                                  on September 7, 1997
                                                                     


Discount Note?                                                          No

May the Notes be redeemed by the Company prior to maturity?             No

May the Notes be repaid prior to maturity at the option of the holder?  Yes

     The Notes will be subject to repayment at the option of the holder
     occurring on either March 7, 2007 or March 7, 2017 at a repayment 
     price equal to 100.0% of the principal amount of the Notes, plus 
     accrued interest to the date of repayment, if any, upon at least 
     30 business days notice.