McLEAN, Va. - (10/01/04) -- Long-tem mortgage rates inched upthis week from six month lows, according to Freddie Mac. Theaverage for the benchmark 30-year, fixed-rate loan rose slightly to5.72% this week, from 5.70% last week; while the average for the15-year fixed-rate mortgage moved to 5.12%, from 5.10%. The averagefor the one-year ARM dipped slightly to 3.97%, from 4.00% lastweek.
Each year, American Banker chooses five teams that embody the spirit of collaboration and illustrate how teamwork can have a substantial impact on a bank's top and bottom lines.
The goal of the regional banking team members is to partner across their respective business lines or service areas to bring in more clients to BofA and to better serve existing clients.
Led by chief SBA lending officer Anna Chung, the team oversees Hanmi's Small Business Administration lending operation, a longstanding component of the $7.8 billion-asset company's business model.
Led by Jennifer Warren, who serves as the head of Wilmington Trust, the teamwork resulted in over $2 billion in revenue expansion for the institutional client services division.
The bank launched Business Essentials, a bundled suite of banking and payment services, following more than a year of development by a cross-functional team from business banking, branch and small business banking, payments, sales and technology teams.
Since the completion of the One Ally project in the first half of 2025, the bank reported 10.5% net deposit growth from customers who initially were not deposit holders.
