George W. Smith, president of Bank of America – Nevada, is kept busy finding ways to keep up with growth in the Nevada market. Bank of America opened 19 new branches in the past three years in Southern Nevada, providing a total of 52 banking centers and 213 ATMs in Las Vegas alone. On the drawing board is the development of more than 10 new banking centers over the next two years.
The bank also has a strong market presence in Northern Nevada, with 27 banking centers located in Reno, Carson City, Minden, Gardnerville and Incline Village. In addition, it operates a division headquarters and mortgage division in Reno. “We anticipated the business growth here,” said Senior Vice President Bob Grubic. “Northern Nevada has enjoyed good economic diversification for many years, largely drawn from companies moving here from California, as well as other parts of the country.” As a result, Bank of America opened three new banking centers within the past two years in the Reno area.
Keeping up with the competition is also a challenge. Banks must continually invent new products and services to attract customers, offering such wares as treasury management to help businesses collect and manage finances better, an array of loan products, and accessible banking for those with disabilities. Bank of America even offers talking ATMs where customers can plug a headset into an audio jack, some with bilingual instructions.
It also has a team dedicated to small business owners and was named the No. 1 Small Business Administration (SBA) lender in Nevada. Historically, Bank of America has been the largest lender to the gaming industry. “We have a long-standing 50-year commitment to gaming,” Smith said.
Nationally, Bank of America has more than 5,800 banking centers coast-to-coast and the nation’s largest bank-owned network of over 16,000 ATMs. “Our strength is our ability to help Nevada grow and create more jobs. Expansion for the economy means expansion for the bank, too,” said Smith. “Nevada’s tremendous growth affected our bottom line in a positive way, and we feel that we have been a big part of the growth story. We will continue to expand our banking center and ATM networks to serve Nevada consumers and small businesses. We will also stay active in gaming by continuing to be the top lender to the industry.
Nevada’s communities count on corporate donations to conduct the important
work of charitable organizations. Bank of America has established numerous partnerships with non-profit organizations, such as its support of the Women’s Development Center, as well as its own Neighborhood Excellence Initiative to recognize local heroes and student leaders.
Many of the bank’s 2,000-plus employees participate in local volunteer efforts. Bank of America has received the Governor’s Points of Light Award. “This is a big deal to us,” Smith said. It is a reflection of our associates’ volunteer efforts, nearly 4,000 hours in 2005. We want to help Nevada be a better place to live.”
Smith is himself a volunteer. A 13-year resident, Smith serves on the UNLV
Foundation executive board, advisory board of the UNLV School of Business, the
board of directors of the Boulder Dam Area Council of the Boy Scouts of America, the board of directors of the Nevada Development Authority, the board of trustees of the Lied Discovery Children’s Museum, the board of directors of Boys Hope/Girls Hope Nevada, the board of the United Way of Nevada, the board of advisors of the Las Vegas Chamber of Commerce and the board of directors of the Nevada Taxpayers Association.
