Tag: bank

Fed Approves United Community Bank’s Merger Application

  • 29/12/2022
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The Federal Reserve Board has approved the application by United Community Banks, Inc., (United), Greenville, South Carolina, to merge with Progress Financial Corporation, and thereby indirectly acquire Progress Bank and Trust, both of Huntsville, Alabama.

American Household Financial Health Declining After Many Years of Increased Savings

  • 27/12/2022
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Gen X and Baby Boomers account for 70% of the 84.7 million owner-occupied homes in the United States, so their plans for homeownership in retirement can greatly impact residential home inventory.

New data from Bank of America found that 70% of homeowners aged 45 to 76 plan to or have retired in the home they already own. Among those planning to stay in their homes when they retire, 78% see no reason to move, while 22% say they have put so much work into their home that they don’t want to move. In fact, 61% of Gen X and 69% of Baby Boomer homeowners have renovated or remodeled the home they currently live in, adapting them to fit their lifestyles.

BofA Survey: 70% of Gen X and Baby Boomers retiring in the Home They Own

  • 22/12/2022
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Gen X and Baby Boomers account for 70% of the 84.7 million owner-occupied homes in the United States, so their plans for homeownership in retirement can greatly impact residential home inventory.

New data from Bank of America found that 70% of homeowners aged 45 to 76 plan to or have retired in the home they already own. Among those planning to stay in their homes when they retire, 78% see no reason to move, while 22% say they have put so much work into their home that they don’t want to move. In fact, 61% of Gen X and 69% of Baby Boomer homeowners have renovated or remodeled the home they currently live in, adapting them to fit their lifestyles.