CHARLOTTE, N.C. – Bank of America Corp. says it extended more than $173 billion in credit to individuals and businesses during the third quarter, bringing its year-to-date total credit extended to nearly $500 billion.
Details about the bank’s loans to individuals, businesses and nonprofits, along with other investments and initiatives, are provided in the company’s Lending and Investing Initiative Quarterly Impact Report, available at www.bankofamerica.com/ opportunity.
The bank said third-quarter highlights from the report include:
- About $72 billion in first mortgages for 322,000 customers
- More than $16 million in home loans for 103,000 low- and moderate-income borrowers
- Nearly 50,000 home-loan modifications completed in the quarter
- Nearly $5.7 billion in credit extended to companies with revenue of less than $20 million
- $11 billion in credit extended to nonprofit, government and anchor institutions
- Nearly $48 million in corporate philanthropy
- More than $917 million in “green” commercial real estate debt and equity transactions
- More than $218 million in “green” energy and power financing.
“As people across America continue to push our economic recovery forward, we continue to do our part,” Brian Moynihan, Bank of America president and CEO, said in a statement. “During the first nine months of this year, Bank of America has loaned nearly half a trillion dollars to individuals and businesses, and invested billions more in our communities. These resources are helping people, companies and nonprofit organizations pursue their goals and create opportunity every day.”
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