Surpassing its goal, NationsBank Corp. said it has lent $13.4 billion to borrowers with low and moderate incomes in less than five years.

In August 1991, the Charlotte, N.C.-based bank said it planned to make $10 billion of such loans over a 10-year period. Since the program began, NationsBank made more than 326,000 loans in areas with low-income and moderate-income residents; in 1995 alone, the bank made $5 billion worth of those loans.

In a release, NationsBank president Kenneth D. Lewis said the company's new goal is to "sustain the momentum." NationsBank declined to disclose the default rate on these loans.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.