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Bad loans haunt small banks

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bank of america

Published Aug. 30, 2010 at 11:36 p.m.

(By Rick Rothacker and Christina Rexrode, rrothacker@charlotteobserver.com and crexrode@charlotteobserver.com) The six community banks based in Mecklenburg County are still struggling to tame troubled loan portfolios, as the economy and real estate markets continue to sputter, federal data show ... Five of six saw their troubled loans increase compared to the first half of 2009. Half the banks have posted losses so far this year. And while some large banks, including Charlotte's Bank of America,

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Merrill Lynch is outpacing Morgan Stanley

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bank of america

Published Aug. 30, 2010 at 7:35 p.m.

(By Michael J. Moore and David Mildenberg, Bloomberg News) In the clash of the two largest U.S. brokerages, Bank of America Corp.'s Merrill Lynch is generating more profit with fewer people than the business Morgan Stanley formed by buying a controlling stake in a venture with Citigroup Inc.'s Smith Barney ... Merrill Lynch, acquired by Bank of America in 2009, produced $315 million more profit from its brokerage in the first half than Morgan Stanley, and did it with 2,900 fewer financial

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Bond runs deep for Munnerlyn, Norwood

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bank of america, carolina panthers, panthers, panthers'

Published June 12, 2010 at 10:36 p.m.

CHARLOTTE -- Moments after the Carolina Panthers selected South Carolina's Eric Norwood in the fourth round of the NFL draft in April, a text arrived from Panthers' cornerback Captain Munnerlyn ... "Great pick," Munnerlyn wrote to The Observer. "That's my boy." ... Thanks to Munnerlyn, former college teammate Norwood is no stranger to Bank of America Stadium ... Munnerlyn, a 2009 seventh-round pick, had a surprisingly strong rookie season and provided tickets for Norwood to come to some games

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BofA dumps Benihana shares

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Published June 11, 2010 at 11:00 a.m.

Bank of America Corp. has cut its stake in Japanese restaurant operator Benihana Inc. (BNHN) (BAC) (WFC) ...

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BofA to pay $195K settlement

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bank of america

Published June 11, 2010 at 7:22 a.m.

The Missouri attorney general’s office says Bank of America Corp. has agreed to pay the state $195,000 to settle allegations that it violated Missouri’s telemarketing and telephone solicitation laws. (BAC) ...

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BofA discloses European exposure

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bank of america

Published May 7, 2010 at 3:20 p.m.

Bank of America Corp. says a British tax on bank bonuses may cost the Charlotte-based bank $465 million in the second quarter. (BAC) ...

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Countrywide to pay $600M settlement

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bank of america

Published May 7, 2010 at 2:35 p.m.

Countrywide Financial Corp., which is owned by Bank of America Corp., has agreed to pay $600 million to settle a class-action lawsuit brought by New York pension funds. (BAC) ...

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Bank of America steps up security at N.Y. tower

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Published May 3, 2010 at 11:19 a.m.

(By Rick Rothacker, rrothacker@charlotteobserver.com) ...

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How Bank of America almost lost Moynihan

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Published Feb. 18, 2010 at 8:41 a.m.

(By Christina Rexrode, crexrode@charlotteobserver.com) New court filings give more detail about just how close Brian Moynihan came to leaving Bank of America in late 2008 - including the bank preparing a news release saying that Moynihan was departing ... Moynihan became chief executive last month, but he probably wouldn't have gotten the job if he'd left the bank in December 2008. He was head of the investment bank at the time, but was going to lose the position to Merrill Lynch CEO John Thain

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Union's protesters at Bank of America say guards lost their benefits

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Published Feb. 17, 2010 at 3:12 p.m.

(By Rick Rothacker, rrothacker@charlotteobserver.com) New York security guards who contend they lost affordable health insurance after Bank of America Corp.'s purchase of Merrill Lynch & Co. brought their protest to the Charlotte bank's headquarters on Tuesday ... In the merger transition, about 130 former Merrill Lynch security guards in December faced a steep increase in their health care benefits, leaving many unable to afford coverage, said Joe Eisman, organizing coordinator with a Service

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