BANKING

BankAmerica Vice Chairman to Step Down: Jerry A. Grundhofer, whose success at driving down costs and improving profits at Security Pacific won him a vice chairman’s post at BankAmerica Corp., the parent of Bank of America, when the institutions merged a year ago, is resigning with a $1-million-plus “golden parachute.” Grundhofer, 48, who was president and chief executive of Security Pacific National Bank at the time of the merger, said he plans to leave BankAmerica by April 30. At B of A, Grundhofer has been in charge of commercial banking, commercial real estate, institutional trust and investment services, domestic private banking and corporate banking.