Average Loan Officer, Commercial Salary at Bank of America Corp. (BOFA)

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The average salary for a Loan Officer, Commercial at Bank of America Corp. (BOFA) is $79,248.
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United States (change)
$76k - $103k
$5k - $10k
Total Pay
$82k - $103k

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Job Description for Loan Officer, Commercial

Loan Officer, Commercial Tasks
  • Develop, maintain, and grow the commercial loan portfolio of private loan companies, government agencies, and non-profit organizations.
  • Solicit new business by developing marketing strategies.
  • Oversee handling of advances, payments, and wire transfers.
  • Negotiate credit terms, and prepare credit analysis and repayment plan for approvals.
  • Interview, consult, accept, analyze credit of, and perform credit reviews of potential borrowers.

Popular Employer Salaries for Loan Officer, Commercial

The top respondents for the job title Loan Officer, Commercial are from the companies Foothill Federal Credit Union, Park National Bank and Bank of The Ozarks. Reported salaries are highest at Foothill Federal Credit Union where the average pay is $82,424. Other companies that offer high salaries for this role include Bank of The Ozarks, earning around $75,000. Park National Bank pays the lowest at around $54,055. Farm Credit also pays on the lower end of the scale, paying $60,009.

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Popular Skills for Loan Officer, Commercial

Skills in Commercial Loans are correlated to pay that is above average. Skills that pay less than market rate include Financial Analysis and Portfolio Management.