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News Stories (76 Results) - Bank of America

SLR Equipment Finance announced the closing of a new $350 million credit facility with Bank of America, N.A. and Truist Bank to support the growth of its equipment finance business over the next several years. SLR Equipment Finance specializes in... Read Story
March 06, 2024, 07:20 AM

Bank of America named Tyrone Noel as President of Bank of America Hampton Roads. As President, Noel will be head of the market and responsible for connecting clients, teammates and communities to the full power of the franchise, driving integration... Read Story
September 29, 2023, 07:00 AM

Capteris LLC announced the closing of a new $350 million credit facility to support the growth of its equipment finance business. The lenders partnering with Capteris include Truist Bank as administrative agent and Bank of America, N.A.  Capteris... Read Story
September 08, 2023, 07:23 AM

Despite economic challenges, 75 percent of mid-sized business owners expect their revenue to increase and 71 percent are planning to hire over the next 12 months, according to the inaugural Bank of America Mid-Sized Business Owner Report (PDF). The... Read Story
July 27, 2023, 07:10 AM

Corcentric, a global provider of procurement and finance solutions, announced it secured a new $315 million senior credit facility. The capital raise consists of a $250 million senior secured asset-based loan revolver from Bank of America and... Read Story
June 14, 2023, 07:17 AM

Verdant Commercial Capital, LLC, the nation’s sixth largest independent equipment finance company, announced the expansion of its funding capacity with the addition of a new $150 million warehouse line of credit provided by Bank of America, N.A. This... Read Story
June 13, 2023, 07:25 AM

The majority of U.S. small business owners (72 percent) are concerned about the impact of a potential recession, however, 76 percent are confident their business could withstand the downturn, according to the Bank of America 2023 Small Business Owner... Read Story
April 28, 2023, 07:22 AM

Bank of America has named Scott Vanderpool as President of Bank of America Phoenix. The company also announced that widely known business leader Benito Almanza plans to retire April 6 after 45 years of service with the company and 22 years as Phoenix... Read Story
March 31, 2023, 07:05 AM

Bank of America named Jim Morehead President of Bank of America Seattle. The company also announced that Alex Yang will become Seattle Market Executive, replacing Jeremey Williams who was recently promoted to Community Relations Manager (CRM)... Read Story
December 12, 2022, 07:17 AM

The Bank of America Institute released a new publication which finds continued resilience in small businesses. New Bank of America small business data shows that, despite economic headwinds, small businesses continue to strengthen in a variety of... Read Story
September 19, 2022, 07:07 AM

Bank of America clients are increasingly relying on the company’s award-winning digital solutions to manage their finances. Clients logged into the company’s digital platforms nearly 1 billion times in July, the highest month ever. This follows a... Read Story
August 29, 2022, 07:15 AM

Bank of America has named Brian King as President of Bank of America Maine. King succeeds Bill Williamson, who held the position for 10 years and has announced his decision to retire next year after more than 40 years with the company. As President... Read Story
July 08, 2022, 07:00 AM

A majority of small business owners report that inflation and supply chain disruptions are impacting their businesses, according to the Bank of America 2022 Small Business Owner Report. The survey of more than 1,000 business owners across the... Read Story
May 05, 2022, 07:00 AM

Encina Equipment Finance, LLC (EEF) announced the closing of a new non-recourse secured revolving loan facility with initial lending commitments from three lenders totaling $450 million. The new facility provides EEF with additional committed... Read Story
April 28, 2022, 07:22 AM

Bank of America named Carolyn Rainey President of Bank of America Charlottesville.As President, Rainey will be responsible for connecting the banking and investment resources offered through the bank’s eight lines of business to people and companies... Read Story
April 22, 2022, 07:24 AM

Bank of America has named Susan Rabinowitz as President of Bank of America Treasure Coast. Rabinowitz succeeds Doug Sherman, who has led the market the past nine years and announced his decision to retire from the company last month.As President... Read Story
April 04, 2022, 07:12 AM

Bank of America has named Rita Sola Cook as President of Bank of America Chicago. Cook succeeds Paul Lambert, who announced his retirement after 30 years with the company.As Chicago president, Cook will be responsible for connecting the banking and... Read Story
December 17, 2021, 07:15 AM

Andrea B. Smith, a longtime member of Bank of America’s executive management team, was honored as the Charlotte Regional Business Alliance’s 2021 Citizen of the Carolinas.The Alliance’s most prestigious award is given annually to a Carolinian who has... Read Story
December 10, 2021, 07:15 AM

National Grid Renewables announced the closing of $98 million in tax equity financing from Bank of America to support its Prairie Wolf Solar Project. Prairie Wolf is a 200-megawatt (MW) solar energy project located in the Midcontinent Independent... Read Story
December 08, 2021, 07:00 AM

Bank of America has named Al McRae as President of Bank of America Atlanta. McRae succeeds Wendy Stewart, who was recently named a member of the company’s senior management team and the President of Global Commercial Banking.Stewart will continue to... Read Story
November 10, 2021, 07:22 AM

Bank of America announced that as a result of the bank’s strong growth and continued expansion in Ohio, the company is appointing two additional presidents which will bring an increased focus and resources in Cincinnati, Cleveland and Columbus.Jeneen... Read Story
October 08, 2021, 07:20 AM

Ritchie Bros. Auctioneers announced the closing of an amendment and extension of its credit agreement totaling US$1.045 billion with a syndicate of lenders comprising:     Multicurrency revolving facilities of up to US$750 Million     A... Read Story
September 22, 2021, 07:00 AM

Bank of America announced senior leadership changes to position the company for long-term success, while continuing to deliver for clients, communities and shareholders.The company is adding five new members, including three women, to the senior... Read Story
September 13, 2021, 07:23 AM

Bank of America has named Marc Perez as President of Bank of America Long Island. Perez succeeds Bob Isaksen, who held the position for 17 years and will continue in his role as the region’s business banking market executive and an active local... Read Story
September 10, 2021, 07:13 AM

The Greenbrier Companies, Inc., an international supplier of equipment and services to global freight transportation markets, announced the renewal and extension of three bank facilities totaling over $1 billion. Greenbrier successfully renewed and... Read Story
August 31, 2021, 07:21 AM

Bank of America announced the retirement of Anne Finucane, Vice Chairman, and Thomas Montag, Chief Operating Officer and President of Global Banking and Markets. Both executives are members of the company’s executive management team and report to... Read Story
August 27, 2021, 07:25 AM

Bank of America has named Ted Janicki as Buffalo Market President. Janicki succeeds Market President Kevin Murphy, who recently retired after more than 30 years with Bank of America. In his new position, Janicki will be responsible for connecting the... Read Story
August 26, 2020, 07:15 AM

Ritchie Bros. Auctioneers Incorporated announced the closing of an amendment and extension of its credit agreement totaling $630 million with a syndicate of lenders comprising: multicurrency revolving facilities of up to $530 million and a... Read Story
August 18, 2020, 07:00 AM

Rocky Mountain Institute (RMI), a global clean energy nonprofit, announced the launch of the Center for Climate-Aligned Finance in collaboration with Wells Fargo, Goldman Sachs, Bank of America and JPMorgan Chase — four of the world’s largest... Read Story
July 13, 2020, 07:10 AM

Bank of America has named Terry Cline as Market President for Knoxville, TN. Cline succeeds Market President John Hall, who will continue to serve on the Knoxville leadership team.Cline will be responsible for connecting the banking and investment... Read Story
March 12, 2020, 07:05 AM

Bank of America has named Alberto Garofalo as Market President for New Jersey. Garofalo succeeds Market President Bob Doherty, who continues to serve on the New Jersey leadership team and as a wholesale credit manager for the Healthcare, Education... Read Story
December 23, 2019, 07:25 AM

Stonebriar Commercial Finance, an independent large-ticket commercial finance company, announced it has extended and amended certain terms of its existing $1.0 billion revolving credit facility.   Bank of America, N.A. serves as agent on the Facility... Read Story
August 14, 2019, 07:30 AM

Stonebriar Commercial Finance announced the closing of a new $500 million revolving credit facility. The facility will provide Stonebriar with committed, multi-year funding for each of its four business platforms: General Equipment, Rail Leasing... Read Story
June 26, 2018, 07:30 AM

The core of the U.S. small business sector is solid, with many entrepreneurs expressing confidence that they will generate higher year-end revenues compared to 2016, and that the 2018 economy will improve. According to the fall 2017 Bank of America... Read Story
November 08, 2017, 07:00 AM

Martha Ahlers, Chief Operating Officer of United Leasing & Finance (ULF,) recently announced the closing of a $350 million, multi-year senior secured revolving credit facility with an accordion expansion to $475 million with Bank of America, as Agent... Read Story
August 10, 2017, 07:00 AM

Viewpost announced an unprecedented initiative to transform the way small businesses view and manage their cash flow. Currently, small businesses are struggling with the real-time demands of a digital economy while being forced to rely on antiquated... Read Story
August 30, 2016, 06:59 AM

CIT Group announced that CIT Capital Equipment Finance made several key appointments designed to further build a best-in-class originations team focused on creating tailored capital equipment financing solutions for middle-market companies. “I am... Read Story
March 04, 2016, 07:32 AM

Signature Bank in Minnetonka, MN announced the recent addition of Mark L. Stauffer to its Lease Financing Division. Stauffer works closely within a diverse range of industries including a focus on telecom and technology. Prior to joining Signature... Read Story
August 14, 2015, 07:21 AM

Bloomberg reported that Bank of America Corp. hired Jeffrey Peek, who ran commercial lender CIT Group Inc. for six years, as an executive vice chairman in the global investment bank.Bloomberg reported Peek, most recently a vice chairman at Barclays... Read Story
June 08, 2015, 07:06 AM

Landec Corporation, a leading developer and marketer of innovative and proprietary products for healthy living applications in the food and biomedical markets, has secured for Apio, Inc., Landec's food subsidiary, a new equipment loan from Banc of... Read Story
May 22, 2015, 06:58 AM

United Rentals, Inc. and certain of their subsidiaries announced they entered into a Second Amended and Restated Credit Agreement which provides for a senior secured asset-based loan facility of $2,500 million, a portion of which is available for... Read Story
April 02, 2015, 06:44 AM

Small business owners handed out significantly higher scores when asked about the health of the economy and their potential for economic growth than they did six months ago, according to the Bank of America/CFI Group Small Business Forecast released... Read Story
February 25, 2015, 06:51 AM

VeriStor Systems, an advanced IT solutions provider specializing in virtual infrastructure and enterprise private, public and hybrid cloud services and solutions, today announced that Bob Necessary has been promoted to Chief Financial Officer.... Read Story
October 08, 2014, 07:02 AM

CIT Group announced that it served as Joint Lead Arranger in a $450 million senior secured credit facility for YRC Worldwide, one of the largest less-than-truckload (LTL) operators in North America. LTL carriers collect freight from various shippers... Read Story
April 02, 2014, 07:00 AM

Announces Plans to Hire More Than 200 Additional Small Business Bankers in 2014Bank of America announced that it extended $10.9 billion in new loans to small businesses in 2013 – a 26 percent increase over 2012. In addition, the bank has seen new... Read Story
February 05, 2014, 06:40 AM

Bank of America Corporation reported net income of $3.4 billion for the fourth quarter of 2013, compared to $732 million in the year-ago period. Revenue, net of interest expense, on an FTE basis rose 15 percent from the fourth quarter of 2012 to... Read Story
January 16, 2014, 06:58 AM

CFOs are more optimistic about U.S. economic growth than they were a year ago and expect their companies’ sales to increase in 2014, with growth coming from doing more business with current customers and winning new customers, according to the Bank... Read Story
December 13, 2013, 07:05 AM

Companies are planning to increase their investment in equipment in the coming year according to a new report released by Infinity Research. As a result, a majority of them would be depending on different sources of finance such as leasing, loans... Read Story
November 11, 2013, 06:30 AM

Bibby Financial Services announced Jeffrey Morse has been appointed to the position of Risk Director. Morse previously served in high-level management roles at several companies, including Chase Commercial Corp., Fleet Credit Corp., Bank of America... Read Story
October 30, 2013, 06:38 AM

U.S. Bank has hired Michael Righi to lead its middle market commercial banking teams in the Pacific Northwest and to serve as the company's president for Northern California. Righi will be based in San Francisco. In addition to serving as market... Read Story
September 30, 2013, 07:00 AM

GE announced Marisa Harney has been appointed vice president and chief risk officer of GE Capital Americas, GE Capital’s North American lending and leasing business. In this role, Marisa will lead the independent risk team responsible for managing... Read Story
August 08, 2013, 07:02 AM

Ascentium Capital LLC announced the addition of another financial firm, JP Morgan Chase Bank, to its existing lender group which also includes Bank of America, Credit Suisse and Bank of Montreal/Harris Bank. These strategic, multi-year credit... Read Story
August 07, 2013, 06:49 AM

Bank of America Business Capital announced it has provided a $30 million asset-based loan to JD Norman Industries, Inc. to refinance existing debt and support the purchase of two subsidiaries of Federal-Mogul Corporation. The business units include a... Read Story
July 26, 2013, 06:58 AM

U.S. financial officers gave the economy its highest score in five years and were significantly more confident about economic growth in 2013 in the latest Bank of America Merrill Lynch CFO Outlook survey. Executives who participated in the 2013 CFO... Read Story
July 24, 2013, 07:02 AM

Fifth Third Bancorp (FITB) announced that it has named Frank Forrest as chief risk and credit officer, effective September 2013. Forrest will join Fifth Third from Bank of America where he has held numerous positions over the past 25 years in credit... Read Story
June 11, 2013, 06:59 AM

Bloomberg reported the biggest U.S. banks including JPMorgan Chase & Co. and Citigroup Inc. are lending the smallest portion of their deposits in five years. The reports cites data compiled by Credit Suisse Group AG which shows the average... Read Story
February 21, 2013, 07:29 AM

Financial executives at U.S. companies continue to be concerned about the economy, with only two out of five executives expecting growth in 2013, according to the Bank of America Merrill Lynch 2013 CFO Outlook. The 602 executives who participated in... Read Story
February 11, 2013, 07:20 AM

According to the Bank of America November 2012 Small Business Owner Report, small business owners want to grow or sustain the level of success they’ve experienced in 2012, in the year ahead. They are optimistic about revenue and hiring expectations... Read Story
November 16, 2012, 07:00 AM

Ascentium Capital announced that it added both Bank of America and Credit Suisse to its existing lender group which currently includes UBS and Bank of Montreal/Harris Bank.Tom Depping, Chief Executive Officer of Ascentium Capital stated, "We are... Read Story
November 07, 2012, 07:00 AM

Bank of America Corporation today reported net income of $340 million for the third quarter of 2012, compared to $6.2 billion in the third quarter of 2011.The third quarter of 2012 was negatively impacted by $1.9 billion of debit valuation... Read Story
October 17, 2012, 08:02 AM

In the Bank of America Fall Update to the 2012 CFO Outlook, CFOs weigh in on the economy, priorities and prospects for growth.  According to the report, never before has so much weighed on the minds of corporate finance chiefs—from the changing... Read Story
October 12, 2012, 07:34 AM

After being rigged by some of the world’s biggest financial institutions, the London interbank offered rate, the benchmark for more than $300 trillion of securities and loans, is now increasingly being set by a smaller group of banks.Bank of America... Read Story
October 08, 2012, 07:32 AM

Confidence in economic growth declined sharply in the latest Bank of America Merrill Lynch CFO Outlook survey, with U.S. financial executives expressing concerns about several potential impacts on the nation’s economy. Only 36 percent of financial... Read Story
September 26, 2012, 07:58 AM

Bank of America Corporation reported net income of $2.5 billion for the second quarter of 2012, compared to a net loss of $8.8 billion in the second quarter of 2011. The year-ago quarter included a total of $18.2 billion in pretax charges for certain... Read Story
July 18, 2012, 07:15 AM

Reuters reported that nine of the largest global banks expressed confidence they can be salvaged or dismantled without taxpayer bailouts if they became insolvent, as U.S. regulators released public portions of these banks' "living wills".According to... Read Story
July 05, 2012, 08:00 AM

Reuters reported that five of the largest U.S. banks are crafting plans for going out of business as part of the government-mandated contingency planning created by the Dodd-Frank financial reform law designed to end too-big-to-fail bailouts from the... Read Story
June 27, 2012, 08:00 AM

The following is an excerpt of the press release issued by Moody's Investors Service.New York, June 21, 2012 – Moody's Investors Service today repositioned the ratings of 15 banks and securities firms with global capital markets operations. The... Read Story
June 22, 2012, 07:45 AM

Bank of America released its inaugural Small Business Owner Report, a semi-annual study exploring the concerns, aspirations and perspectives of small business owners across the country. The survey uncovers a sense of optimism about their own business... Read Story
May 18, 2012, 08:00 AM

U.S. financial executives are much more optimistic about the national economy than they were last fall, with nearly two-thirds expecting it to grow in 2012, but they remain cautious about the global economy, according to the latest Bank of America... Read Story
May 04, 2012, 07:30 AM

Bloomberg reported the largest U.S. banks, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., told the Federal Reserve that a limit on their credit exposure is unnecessary and “fundamentally flawed.” According to the report, the Federal... Read Story
April 30, 2012, 07:30 AM

Bank of America Corporation reported net income of $653 million for the first quarter of 2012. Revenue, net of interest expense, on a fully taxable-equivalent (FTE) basis was $22.5 billion, including negative valuation adjustments related to changes... Read Story
April 19, 2012, 08:00 AM

Bloomberg Businessweek reported that the Federal Reserve Bank of New York is seeking bids for $7.49 billion of collateralized debt obligations linked to commercial mortgages it took on in the 2008 bailout of American International Group Inc. (AIG).... Read Story
April 19, 2012, 07:00 AM

CIT Group Inc. announced the appointment of Stacey Goodman as Executive Vice President and Chief Information Officer effective April 30, 2012. She will report to to Nelson J. Chai, President of CIT Group Inc.“Technology continues to play an important... Read Story
April 17, 2012, 05:30 AM

The New York Times reported that Moody’s Investor Service said it will decide in mid-May whether to lower the credit ratings of 17 global financial companies. The report cites Morgan Stanley to be the most vulnerable and that Moody’s may cut the... Read Story
March 30, 2012, 08:15 AM

Bloomberg Businessweek reported the world’s largest banks have presented a list of changes to a proposed U.S. ban on proprietary trading, seeking to escalate the lobbying effort against the Volcker rule five months before it takes effect.According to... Read Story
February 14, 2012, 07:30 AM

Bloomberg reported that Bank of America Corp., JPMorgan Chase & Co., Wells Fargo, Citigroup and Ally Financial (GMAC) reached a $25 billion settlement with 49 states and the federal government related to abusive foreclosure practices in the wake of... Read Story
February 10, 2012, 07:30 AM