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By Lananh Nguyen

NEW YORK, Oct 4 (Reuters) - Bank of America Corp plans to deposit an additional $100 million into banks that focus on minority communities, the company said on Tuesday.

The program doubles Bank of America's earlier pledge to deposit $100 million in minority depository institutions, or MDIs, that are mostly owned by minority individuals. The second-biggest U.S. lender has expanded its racial equality initiatives in recent years, making $42.5 million in equity investments in 22 MDIs and Community Development Financial Institutions, and taking equity stakes of less than 5% of each lender.

For the smaller lenders, the influx of deposits "expands their capacity to make loans" for housing or businesses, D. Steve Boland, Bank of America's chief administrative officer, said in an interview. "What we would hope is our example draws in others" to make similar moves, he said.

The deposits will probably range from $1 million to $10 million, Boland said. Optus Bank, Southern Bancorp and City First Bank are among the lenders that will receive deposits.

"MDIs are a critical resource to minority and underserved communities," providing banking services, creating jobs and helping businesses, Boland said separately in a statement.

U.S. banking giants have expanded their racial-equity pledges in the years after 2020, when the killing of George Floyd, a Black man, by a police officer sparked global protests. (Reporting by Lananh Nguyen; Editing by Muralikumar Anantharaman and Chizu Nomiyama)



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Shay Mooney, from the country-pop music duo, Dan + Shay, revealed on Friday that he has lost 50 pounds in five months.

On Thursday, Shay thanked his fans 'so much' for all their 'kind words' about him 'looking healthy' on Instagram.

'Really means a lot. Been a little over 5 months I believe and I'm down almost 50 lbs,' he told his more than 298,000 followers.

Before: Shay Mooney from Dan + Shay perform onstage during the 2022 Billboard Music Awards at MGM Grand Garden Arena on May 15, 2022 in Las Vegas, Nevada

Commenting on his diet and how he lost weight, the country singer said he stopped drinking alcohol, started walking 7 miles per day, and has been eating 'clean.'

He added: 'And some weights. That's it! I completely changed my lifestyle and I've never felt better physically, mentally, and spiritually.'

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Fellow country musicians and fans commented on Mooney's new look.

Singer Tyler Rich wrote, 'Looking lean brother.'

Feeling fit: Mooney, from the country-pop music duo, Dan + Shay, revealed on Friday that he has lost 50 pounds in five months



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