BofA will be ''Official Bank'' of NFL
After the Olympics, Baseball, and NASCAR, Bank of America Corp. has signed a deal with the National Football League (NFL) to become its “official” bank. The three-year deal will make the Charlotte-based bank the NFL's exclusive sponsor for banking and related financial services, including savings and checking accounts, ATM and debit cards, and money transfer and exchange services. The bank will now have the rights to advertise during NFL games and on NFL-controlled media assets. The company now furnishes the right to use the NFL shield logo and other NFL-licensed trademarks, such as the Super Bowl, in its marketing and advertising.
Wells Fargo invests $266M in Nevada solar farm
Wells Fargo & Co. has announced its biggest equity investment in solar power as part of its financing of Nevada Solar One. Wells Fargo is one of the three equity investors of a 64-megawatt solar farm in Nevada. The other two investors in the $266 million project are JP Morgan Chase’s JPMorgan Capital Corp and an affiliate of Northern Trust. Nevada Solar One is spread across 400 acres in Boulder City, NV, and has more than 182,000 parabolic trough-shaped mirror panels to stream the sun’s energy to produce electricity.
Fifth Third will buy First Charter Bank
Fifth Third Bancorp has announced that it will acquire the First Charter Corporation for $1.09 billion to expand its presence in the southeast to North Carolina and suburban Atlanta. The deal would be financed with 30% cash and the rest in stocks, with Fifth Third paying $31 per share. The acquisition deal of Charlotte-based First Charter will strengthen Fifth Third by 57 retail locations and 134 ATMs in North Carolina, as well as five retail locations and six ATMs in Georgia. Fifth Third, a financial services institution, operates 18 affiliates with 1,171 full-service banks.
