As part of its commitment to fund $350 billion of community development in the next decade, BankAmerica Corp. has pledged to help establish a native-Hawaiian-controlled community development bank on the island of Maui.

The Charlotte, N.C., banking company, which made the commitment in connection with the recent merger between NationsBank Corp. and the old BankAmerica Corp., would invest as much as $3.5 million in the venture, which would offer loans and investments aimed at fostering community development among native Hawaiians.

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