President focuses on inflection points in the business lifecycle Susan Rabinowitz According to Susan Rabinowitz, Business Banking Market Executive and President, Bank of America Treasure Coast Market, "The Treasure Coast is home to large variety of business sectors, from manufacturing to logistics to a growing presence of industrial warehouses. Each of these businesses [...]
BofA data finds men's average 401(k) account balance exceeds women's by 50 percent Bank of America released its 2023 Financial Life Benefits® Impact Report (PDF), revealing that the average 401(k) account balance among men is 50% greater than women's overall ($89,000 vs. $59,000). However, this gender imbalance is closing among younger generations. Baby Boomer (ages 58-76) [...]
BofA report finds 64% of women want menopause-specific benefits Bank of America published Break Through the Stigma: Menopause in the Workplace(PDF), a new report revealing half of peri- and post-menopausal women (51%) report menopause has negatively impacted their work life, yet only 14% believe their employers recognize the need for menopause-specific benefits. The under-recognized need for [...]
FCF/FFC advocates for and delivers tax relief for small business owners First Capital Finance/Florida First Capital (FCF/FFC) won big for small businesses in Florida during this legislative session. Working hand-in-hand with members of the Florida House of Representatives and the Senate, FCF/FFC secured passage of language addressing the double taxation of SBA 504 loans. "This [...]
Bank of America Breakthrough Lab™ seeks founders of early-stage startups Bank of America is pleased to officially launch its impact accelerator program named Bank of America Breakthrough Lab with the call for applications for the September 2023 cohort. The six-month program provides tailored mentorship, digital expertise, networking with industry experts and access to potential investors [...]
Survey says 76% of small businesses feel well-equipped to survive a recession 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 Report (PDF). The survey of [...]
GRID Alternatives receives new funding for Solar Workforce Development Program GRID Alternatives, the largest nonprofit installer of renewable energy in the U.S., announced a renewed partnership with Bank of America. Bank of America is a long-standing corporate partner that has renewed its investment of $300,000 in one of GRID's workforce development programs, the SolarCorps Fellowship Program. [...]
Bank of America reports first-quarter 2023 financial results Bank of America reported its first-quarter 2023 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America's Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. Earnings Release (PDF) Presentation (PDF) Supplemental Information (PDF) Investor Conference Call information: Chief Executive Officer Brian Moynihan and [...]
Merrill Wealth Management names new presidents Bank of America today announced that Lindsay Hans and Eric Schimpf have been appointed presidents and co-heads of Merrill Wealth Management, reporting to Bank of America Chair and Chief Executive Officer Brian Moynihan. As presidents, Hans and Schimpf will join Bank of America's executive management team and oversee more [...]
Data finds the surge in housing costs varies Bank of America Institute released new analysis which examines the increase in housing costs across the United States. BofA internal data shows that median rent payments were up 8% year-over-year (YoY) and median mortgage payments were up 7% YoY for BofA customers in February, but there are meaningful [...]