Bank of America Related Content

BofA: Small Businesses Optimistic as Confidence Surges

According to a Bank of America survey, small business owners are optimistic their year-end revenue will surpass 2016 as confidence in the economy has surged on expectation that economy will improve in the year ahead. read more

Passwords Are Unsafe in Digital Banking Says BofA Executive

Michelle Moore of Bank of America, told the Charlotte Observer that the use of user IDs and passwords to access bank accounts online is an antiquated system. read more

United Rentals Enters Lender Joinder Agreement with Bank of America

Bank of America agreed to provide $500 million in revolving credit commitments to equipment rental company United Rentals as part of a lender joinder agreement. read more

Textainer Refinances $1.2B Warehouse Financing Facility

Intermodal lessor Textainer Group announced an subsidiary of the company closed on a refinancing to extend its term loan and lower the rate on it warehouse facility to acquire containers. read more

Berkshire Realizes $11.7B Profit on Warrant Exercise, Now Largest BofA Shareholder

Bank of America said Berkshire Hathaway exercised its warrants to purchase 700 million shares of common stock. The deal makes Warren Buffett’s Berkshire the largest common shareholder of Bank of America. read more

United Leasing & Finance Secures $350MM Credit Facility with BofA

United Leasing & Finance closed a $350 million, multi-year senior secured revolving credit facility with an accordion expansion to $475 million with Bank of America as agent. read more

Citibank Extends Maturity of Sears $271MM Letter of Credit

Sears amended its $271 million letter of credit with Citibank as administrative agent to extend the maturity date through December 29, 2018. read more

Bank of America Q2 EPS Beats the Street

Bank of America reported Q2/17 net income of $5.3 billion, up 10% from $4.8 billion a year earlier. Earnings per share of $0.46 exceeded analysts polled by Thomson Reuters of $0.43 EPS. read more

Bank of America Names Market President for Indianapolis

Bank of America announced Andy Crask has been appointed as market president, serving as the company’s enterprise leader in Indianapolis. read more

People’s United Hires DeFranza as SVP, SBA Lending

People’s United Bank announced John DeFranza has joined the bank as senior vice president of Small Business Administration lending. DeFranza was previously with Bank of America in a similar capacity. read more

Goldman Sachs, Others Support Amazon $13.7B Whole Foods Buy

Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net debt. Goldman Sachs, Goldman Sachs Lending Partners, Merrill Lynch and Bank of America, have committed to provide a 364-day bridge term loan facility to support the transaction. read more

Wells Fargo Hires BofA Exec to Lead Community Segments Team

Andrew Rowe was selected as head of Wells Fargo’s Community Banking Customer Segments team. Rowe will join from Bank of America where he most recently served as a consumer risk executive. read more

Bank of America Agents New $300MM Facility for Bob Evans Farms

Bob Evans Farms completed the sale of its restaurants to Golden Gate Capital and its acquisition of Pineland Farms Potato Company. The company also established a new $300 million credit facility with a group of banks led by Bank of America serving as administrative agent. read more

Bank of America Beats Estimates, Q1 Y/Y Earnings Increase 40%

Bank of America reported net income was up 40% to $4.9 billion before preferred stock dividends. EPS of $0.41 exceeds analysis’ estimates of $0.35. read more

BMO Harris Agents Rush Enterprises’ $100MM Revolver

Rush Enterprises entered into a $100 million revolver credit agreement with a group of banks led by BMO Harris serving as administrative agent. read more

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