Local Impact Fact Sheet For Miami

Gene Schaefer

President, Bank of America Miami

Bank of America invests locally to make this a great place to live, work and do business. We provide solutions for businesses; support local institutions focused on income creation, stable housing and advancing economic opportunity; and support our local arts and culture for a thriving Miami.

1,650

Local
employees
64.2K

Local employee
volunteer hours
(since 2020)
$17.9M

Philanthropic
giving
(since 2020)
76

Locations
supporting clients
$724M

Loans to small
businesses*(Credit extended to businesses that generally have annual revenues of less than $5 million)
$4.1B

Loans to
commercial
businesses**(Credit extended to businesses that generally have annual revenues of $5 million to $2 billion)

Key Partnerships

Being a Great Place to Work

We strive to be a Great Place to Work for our employees by providing access to a broad range of opportunities to achieve their professional goals and by maintaining a culture of caring for them and their families.

Our local teammates have access to free, confidential counseling through our Employee Assistance Program and support in the moments that matter most through our industry-leading Life Event Services Team.
We recognize teammates celebrating certain career milestones with paid time away through our sabbatical program.

Supporting local businesses

Helping businesses grow is at the core of what we do. We’re proud to provide industry-leading advice, connections and tools.

Serving 3.4M businesses from start-up to $50M in the U.S., business owners have access to our leading products, scale and expertise.
We consistently rank as the No. 1 small business lender according to the FDIC.
In 2024, we were recognized as the Best Bank in the U.S. for Small and Midsize Enterprises by Global Finance.

Investing in arts and culture

We believe that investments in arts and culture help to build communities and have a positive impact on the lives of our clients and teammates.

We support nonprofit arts and cultural institutions around the world here in Miami.
Through Museums on Us^®, we offer our cardholders free general admission to local museums during the first full weekend of every month.

Delivering industry-leading capabilities through technology

Innovation is at the heart of all we do. We provide digital capabilities that improve our clients’ financial lives.

We’re harnessing digital demand with over 58M verified online and mobile users, and a record 14.3B logins in 2024.
Erica^®, our artificial intelligence (AI)-based virtual financial assistant, has recorded over 2.5B interactions since the tool’s introduction.
We continue expanding our digital capabilities, serving over 965K digitally active local clients.

Awards

One of the

World's Most Admired
Companies (2025)

by
Fortune
Financial Health Support -
Banking & Payments (2024)

Certified by
J.D. Power
Top 10 most
JUST companies (2025)

by
JUST Capital