Banking

Former Bank of America CEO Ken Lewis selling Low Country home

Former Bank of America CEO Ken Lewis is close to selling his home in the South Carolina Low Country after years on the market.

Listed for $2,495,000, the vacation home in Spring Island, near Hilton Head, is under contract, according to Spring Island Realty’s website. Lewis owns the home with Charlotte restaurateur Dennis Thompson.

Reached Wednesday, Lewis said the home is in a “beautiful location” but “we found we just didn’t get down there enough.” The home has been on and off the market over the years, and is under contract for a little less than the listing price, he said.

According to Spring Island’s website, the home sits on a bluff “overlooking the Chechessee Creek and enjoys views of marsh, wildlife and spectacular sunsets.” Special features include a deepwater floating dock, three wine coolers and an in-home theater.

Lewis and Thompson bought the home in 2002 for $3 million, according to Beaufort County property records. The sale agreement, first reported by the Wall Street Journal, is still subject to appraisal and inspection.

Lewis retired from Bank of America in 2009, under fire for the big deals he forged during the financial crisis.

The Charlotte-based bank required a government bailout after buying investment bank Merrill Lynch. And in recent years, it has paid tens of billions of dollars to settle government investigations and lawsuits, mostly related to Lewis’ 2008 purchase of mortgage lender Countrywide Financial.

In 2013, Lewis and his wife, Donna, sold their SouthPark home for $3.15 million, less than the original asking price of $4.5 million. The couple still have a condo in Charlotte and homes in the North Carolina mountains and Florida.

In retirement, Lewis has been involved in a variety of charitable causes, including a project that provides solar panels to villages in Africa.

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