Bank of America 2001 Annual Report Download - page 23

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21
Commercial Banking serves middle-market companies
and institutions with annual revenues of $10 to $500 million.
We offer a wide range of financial products and services,
including treasury and trade services, credit and
leasing, capital markets and investment banking,
as well as personal and institutional investments
and asset management. We are proud to serve as
lead bank or primary financial provider for 67% of
our clients, which attests to our growing reputa-
tion for our advisory and consultative services.
Real Estate Banking is the No. 1 provider
of financial services to professional developers,
home builders and commercial real estate firms,
with a No. 1 or 2 share of the business in every
market we serve. By delivering the full resources
of Bank of America and leveraging our many
years of experience in real estate banking, we
are able to tailor innovative, customized finan-
cial solutions for our real estate clients. We con-
tinue to focus on broadening our relationships
with our real estate clients through sales of
treasury management, investment banking and
other financial solutions.
Business Credit is our primary asset-based
lending business that specializes in providing
secured, leveraged credit facilities to mid- and
large-size companies. We are one of the nation’s largest
bank-owned asset-based lenders, with offices located
throughout the U.S. and Canada and in London. This is a
growth business that enables us to tailor financing solutions
to our clients’ specific needs by converting their assets into
immediate working capital. We differentiate our-
selves from other asset-based lenders with the
vast array of products and services available only
from Bank of America.
As a result of our dedication to the commer-
cial market, we have earned top market rankings
in investment banking, treasury management,
syndication, secured and unsecured credit, and
leasing, as well as in the sheer number of bank-
ing relationships.
Bank of America is committed to leveraging
the strength, experience and product breadth of
our company to generate world-class performance
and growth in the Commercial segment. To accom-
plish this, we are executing four growth strategies:
Acquiring new relationships and growing
market share. Our goal during the next five years
is to increase our market share in Commercial
Banking and Business Credit. We’re developing
targeted client acquisition criteria and focusing
on industries in which we have built specialty
practices and expertise, including health care,
education, not-for-profits and the beverage
industry. We’re also continuing to invest in developing and
delivering innovative products and solutions, such as
We have earned top market rankings in investment banking,
treasury management, syndication, secured and unsecured credit, and
leasing, as well as in the sheer number of banking relationships.
WHEN FLORIDA EAST COAST INDUSTRIES,
INC. (FECI), a company with transportation,
telecommunications and real estate sub-
sidiaries, wanted to fund a capital expenditure
program, it asked Bank of America to recom-
mend an optimal capital structure.
Our Real Estate Banking Group identified
untapped liquidity in FECI’s unleveraged real
estate portfolio, then partnered with Banc of
America Securities, which arranged a competi-
tive bidding process and, ultimately, a $160 mil-
lion financing with a large institutional investor.
Earlier in 2001, our Middle Market Investment
Banking Group led and arranged a $375 million
operating facility for FECI.
Said Richard Smith, CFO of FECI, “Bank of
America is a valued financial partner and has
provided various financing solutions for our
company. The bank offers a broad range of serv-
ices that respond to all of our varied advisory
and capital-raising needs.”
Dedication to the middle
market has earned Bank of
America top bank status in:
>Number of banking
relationships
>Investment banking
>Treasury management
>Syndication
>Secured and unsecured
credit
>Leasing
(Dollars in billions)
PRIMARY COMMERCIAL
SEGMENT BUSINESSES
$0.6
$3.2
$0.3
Total 2001 Segment Revenues:
$4.1 billion
MARKET LEADERSHIP
■
Commercial Banking
■
Real Estate Banking
■
Business Credit
Partnering Across
Business Lines to
Offer Solutions