Bank of America Corporation (BAC) operates as a bank holding company and financial holding company, providing a diversified range of banking and nonbank financial services and products through four main business segments . The company offers credit, banking, and investment products and services to consumers, small businesses, affluent and ultra-high net worth clients, corporations, governments, and institutions globally . Bank of America generated $98.6 billion in revenue and $26.5 billion in net income in 2023, with significant contributions from each of its business segments .
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Consumer Banking - Offers credit, banking, and investment products and services to consumers and small businesses, primarily driven by credit card loans.
- Retail Banking - Provides a wide range of financial services to individual consumers.
- Preferred Banking - Caters to small businesses with specialized banking solutions.
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Global Banking - Provides lending-related products, integrated working capital management, treasury solutions, and underwriting and advisory services, driven by new client growth and deepening existing client relationships.
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Global Wealth & Investment Management (GWIM) - Delivers investment and wealth management solutions to affluent and ultra-high net worth clients, with client balances increasing due to higher market valuations and positive net client flows.
- Merrill - Offers investment solutions and financial advice.
- Private Bank - Focuses on wealth management for ultra-high net worth clients.
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Global Markets - Engages in trading across a broad range of asset classes, serving corporations, governments, institutions, and individuals globally, noted for strong performance in sales and trading activities.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Brian T. Moynihan ExecutiveBoard | Chairman of the Board and Chief Executive Officer | None specified in documents | Brian T. Moynihan has been with BAC since January 2010 as President and CEO, and Chair of the Board since October 2014. He has focused on responsible growth and improved financial performance. | View Report → |
Alastair M. Borthwick Executive | Chief Financial Officer | None specified in documents | Alastair M. Borthwick has been CFO since November 2021 and was previously President of Global Commercial Banking. | |
Dean C. Athanasia Executive | President of Regional Banking | None specified in documents | Dean C. Athanasia has held various leadership roles at BAC, including President of Retail and Preferred & Small Business Banking. | |
James P. DeMare Executive | President, Global Markets | None specified in documents | James P. DeMare oversees BAC's Global Markets business and achieved record sales and trading revenue in 2023. | |
Matthew M. Koder Executive | President, Global Corporate and Investment Banking | None specified in documents | Matthew M. Koder has been President of Global Corporate and Investment Banking since December 2018. | |
Arnold W. Donald Board | Director | Former President and CEO of Carnival Corporation & Carnival plc | Arnold W. Donald is a Director at BAC with a background in leadership at Carnival Corporation. | |
Clayton S. Rose Board | Director | Baker Foundation Professor of Management Practice at Harvard Business School | Clayton S. Rose is a Director at BAC and a professor at Harvard Business School. | |
Denise L. Ramos Board | Director | Former CEO and President of ITT Inc. | Denise L. Ramos is a Director at BAC with a background in leadership at ITT Inc.. | |
Jos\u00e9 E. Almeida Board | Director | Chairman, President, and CEO of Baxter International Inc. | Jos\u00e9 E. Almeida is a Director at BAC and has extensive leadership experience, including roles at Baxter International and Covidien. | |
Linda P. Hudson Board | Director | Former Executive Officer of The Cardea Group, LLC | Linda P. Hudson is a Director at BAC and has held executive roles at BAE Systems, Inc.. | |
Lionel L. Nowell III Board | Lead Independent Director | Former Senior Vice President and Treasurer at PepsiCo, Inc. | Lionel L. Nowell III is the Lead Independent Director at BAC with a background in finance at PepsiCo. | |
Maria Martinez Board | Director | Director at Tyson Foods Inc. and McKesson Corporation | Maria Martinez is a Director at BAC with a background in technology leadership at Cisco Systems and other major corporations. | |
Maria T. Zuber Board | Director | Vice President for Research and E.A., Griswold Professor of Geophysics at MIT | Maria T. Zuber is a Director at BAC and holds a leadership role at MIT. | |
Michael D. White Board | Director | Lead Director of Kimberly-Clark Corporation | Michael D. White is a Director at BAC and has held leadership roles at DIRECTV and Kimberly-Clark Corporation. | |
Monica C. Lozano Board | Director | Lead Independent Director at Target Corporation | Monica C. Lozano is a Director at BAC and has held leadership roles at the College Futures Foundation and US Hispanic Media Inc.. | |
Pierre J.P. de Weck Board | Director | Former Chairman and Global Head of Private Wealth Management at Deutsche Bank AG | Pierre J.P. de Weck is a Director at BAC with a background in private wealth management. | |
Sharon L. Allen Board | Director | Former Chairman of Deloitte LLP | Sharon L. Allen is a Director at BAC and has a background in leadership at Deloitte LLP. | |
Thomas D. Woods Board | Director | Former Vice Chairman and Senior Executive Vice President of CIBC | Thomas D. Woods is a Director at BAC with a background in finance at CIBC. |
- Despite significant investments in digital capabilities, your efficiency ratio has been deteriorating; how do you plan to enhance operational efficiency and return to consistent positive operating leverage?
- With the current rate environment impacting deposit growth and higher-end balances showing outflows, what strategies are you employing to stabilize deposits and attract new funds?
- Considering the potential for more favorable Basel III final rules than initially proposed, how might this influence your capital return plans, and are you prepared to increase shareholder distributions?
- As the net interest income is sensitive to rate movements, especially with floating-rate loans, how are you managing interest rate risk, and what impact do you anticipate from potential future rate cuts?
- Given the decline in commercial real estate loans and ongoing challenges in that sector, how are you addressing credit risks in your portfolio, and what is your outlook on asset quality, particularly in commercial real estate?
Research analysts who have asked questions during BANK OF AMERICA CORP /DE/ earnings calls.
Betsy Graseck
Morgan Stanley
4 questions for BAC
Gerard Cassidy
RBC Capital Markets
4 questions for BAC
James Mitchell
Seaport Global Holdings LLC
4 questions for BAC
Matthew O'Connor
Deutsche Bank
4 questions for BAC
Erika Najarian
UBS
3 questions for BAC
Glenn Schorr
Evercore ISI
3 questions for BAC
John McDonald
Truist Securities
3 questions for BAC
Michael Mayo
Wells Fargo
3 questions for BAC
Ken Usdin
Autonomous Research
2 questions for BAC
Steven Chubak
Wolfe Research
2 questions for BAC
Vivek Juneja
JPMorgan Chase & Co.
2 questions for BAC
Christopher McGratty
Keefe, Bruyette & Woods
1 question for BAC
Hang Leung
Wolfe Research
1 question for BAC
L. Erika Penala
UBS
1 question for BAC
Mike Mayo
Wells Fargo
1 question for BAC
Steven Alexopoulos
JPMorgan Chase & Co.
1 question for BAC
Recent press releases and 8-K filings for BAC.
- Bank of America raised its 12-month price target for the S&P 500 to 7,200, implying an 8% gain driven by solid corporate earnings growth rather than multiple expansion.
- Analysts cite improved operating leverage, efficiency gains, and broader capital expenditures in AI, energy, and financial services as key profit drivers.
- BofA and Deutsche Bank warn that delays in AI monetization could prompt capital raising and market derating, underscoring AI’s role in sustaining U.S. economic growth.
- BofA’s EPS Surprise indicator flipped positive, and its updated 12-month EPS estimate for the S&P 500 is $271 per share, slightly below consensus.
- U.S. consumer and commercial portfolios remain healthy, with card spending up 4.5% YTD 2025, checking balances multiples above pre-COVID levels, unemployment at 4.3%, and continued stability in commercial asset quality including improvements in office CRE performance.
- Global Markets achieves its 14th consecutive quarter of year-over-year revenue growth, while Investment Banking fees are up approximately 15% in Q3, driven by robust client repositioning activity.
- Net Interest Income is on track to rise 6–7% in FY25 to $15.5–15.7 billion, with Q3 expected around $15.2 billion, setting a new company record if achieved.
- Strong capital position supports strategic returns: dividend increased 7–8% in FY25, and $5.25 billion of share buybacks in Q2, alongside continued loan growth.
- Technology and AI investments accelerate efficiency and client experience, with $13 billion in total tech spend (including $4 billion of new code) and 20 million users of the “Erika” digital assistant generating 3 billion interactions.
- Bank of America named Dean C. Athanasia (President, Regional Banking) and James P. DeMare (President, Global Markets) as Co-Presidents, who will oversee the company’s eight lines of business and report to Chair and CEO Brian Moynihan.
- Alastair M. Borthwick was appointed Executive Vice President in addition to his role as Chief Financial Officer, expanding his strategic advisory responsibilities and having led the return of $7.3 billion to shareholders in Q2 2025.
- The existing Management Team remains otherwise unchanged, with the new leadership structure intended to accelerate enterprise-wide initiatives on growth, AI innovation, market share expansion, and operational excellence.
- Bank of America named Dean C. Athanasia and James P. DeMare as co-presidents to drive global market growth, AI innovation, and cost management.
- Alastair M. Borthwick was elevated to Executive Vice President while retaining his CFO role, expanding his strategic oversight of the global investor base.
- Athanasia led 26 consecutive quarters of net checking account growth with deposits up 32% since 2019, and DeMare delivered 13 straight quarters of year-over-year trading growth.
- The changes narrow the succession slate for CEO Brian Moynihan, who plans to remain in his role through 2030.
- Dean Athanasia and Jim DeMare named Co-Presidents to oversee the bank’s eight lines of business and drive long-term growth and returns.
- Alastair Borthwick appointed Executive Vice President and CFO, extending his four-year tenure as CFO and taking on expanded responsibilities for financial stewardship and investor relations.
- The new co-presidents will partner with CEO Brian Moynihan on market share expansion, AI-driven innovation, and operational excellence across global businesses.
- Bank of America will redeem €2,000,000,000 of Floating Rate Senior Notes due September 22, 2026 on September 22, 2025 at €1,000 per €1,000 Calculation Amount plus accrued interest.
- Interest on the notes will cease to accrue on the redemption date.
- The company will request cancellation of the listing on the FCA Official List and London Stock Exchange admission post-redemption.
- Craig Johnson says the current earnings season is not as weak as widely feared, with fundamentals translating into constructive price action.
- Over 50% of Piper-tracked stocks are in uptrends—led by tech (AI, crypto), industrials, and financials—indicating sustained market breadth.
- Elevated cash in money market funds and FOMO-driven sentiment suggest dips should be bought, even during seasonally weak August–September months.
- Chart patterns for Bank of America and peers like Oshkosh are looking constructive, and housing stocks such as Lennar and Horton are starting to turn up, signaling broader market strength.
- On July 24, 2025, Bank of America issued 100,000 shares of 6.250% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series UU, via a public offering of 2,500,000 depositary shares (each representing a 1/25th interest) at $1,000 per depositary share.
- Dividends accrue at a fixed 6.250% per annum until the first reset date on July 26, 2030, then reset every five years to the Five-Year U.S. Treasury Rate plus 235.1 bps.
- The preferred shares are redeemable at $25,000 per share (equivalent to $1,000 per depositary share) plus accrued dividends on any dividend payment date on or after the first reset date, or within 90 days of certain capital treatment events.
- If dividends on Series UU (or any parity preferred) remain unpaid for six or more quarterly periods, holders gain the right to elect two directors, subject to NYSE governance requirements.
- FHFA will allow applicants to use Vantage Score for mortgages sold to Fannie Mae and Freddie Mac, aiming to increase competition and expand access.
- Vantage Score adds around 33 million consumers not scored by its competitor and 4.9 million of these now meet the minimum 620 threshold for mortgage eligibility.
- This expansion could translate into up to $1 trillion in incremental mortgage originations, based on 1.83 adults per household aged 25–65.
- Vantage Score uniquely incorporates alternative data (e.g., rental payment history), boosting inclusion and predictive accuracy compared with traditional scores.
- The Kuwait Investment Authority sold $3.1 billion of Bank of America shares as part of $6.5 billion in financial services stocks divested over the past week.
- The overnight block trade was priced at $47.95 per share, a 1.5% discount, triggering a 3% drop in Bank of America’s share price.
- KIA has been a long-time backer of Bank of America since its $2 billion injection into Merrill Lynch in January 2008, prior to BAC’s acquisition of Merrill.
- Under new leader Sheikh Saoud Salem Al-Sabah, KIA is repositioning its portfolio amid concerns over the private equity sector.
- Warren Buffett’s Berkshire Hathaway has also reduced its stake, cutting shares from 1.03 billion to about 632 million by March 2025.