Welcome to our dedicated page for Bank of America news (Ticker: BAC), a resource for investors and traders seeking the latest updates and insights on Bank of America stock.
Bank of America Corporation (NYSE: BAC) is a prominent American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank's origins trace back to San Francisco, California. With more than $3.0 trillion in assets, Bank of America stands as one of the largest financial institutions in the United States, offering a comprehensive range of financial products and services.
The company is organized into four main segments: consumer banking, global wealth and investment management, global banking, and global markets. In consumer banking, Bank of America provides services through its extensive network of branches, ATMs, and digital platforms, catering to individual customers with products such as deposit accounts, credit and debit cards, and retail lending.
In the realm of wealth management, the company's Merrill Lynch operations, along with its private bank, offer brokerage and wealth management services. The global banking segment focuses on serving corporate, commercial, and real estate clients, providing lending solutions and investment banking services. The global markets segment offers trading and market-making activities.
Bank of America has a significant digital footprint, with approximately 57 million verified digital users. The company recently received the 2024 Celent Model Bank award for customer-centered innovation, recognizing its new unified mobile app that integrates various banking and investment services, enhancing user experience and engagement.
The bank's commitment to innovation is evident through initiatives such as Erica, its advanced virtual financial assistant, which has facilitated over 2 billion client interactions since its launch. Furthermore, Bank of America continuously expands its digital offerings to meet the evolving needs of its clients.
Bank of America also plays a vital role in supporting small businesses, providing resources, mentorship, and capital through programs such as the Tory Burch Foundation Business Webinars. The bank's Community Homeownership Commitment aims to assist low- and moderate-income homebuyers, emphasizing the importance of accessible homeownership.
In terms of financial performance, Bank of America consistently reports strong results, driven by its diversified portfolio of services and strategic focus on digital transformation and customer-centric initiatives. The company's ongoing projects and partnerships reflect its dedication to innovation and customer satisfaction, solidifying its position as a leader in the financial industry.
For more information on the latest news and updates about Bank of America Corporation, including financial results, dividend announcements, and other significant developments, visit their newsroom and register for news email alerts.
Bank of America announced its Consumer Investments business has surpassed $500 billion in client assets, marking a more than 10-fold increase over the past decade. The business manages nearly 4 million client accounts through Merrill Edge Self-Directed and Merrill Guided Investing platforms.
The company's high-tech, high-touch approach combines an advanced digital platform with access to over 3,000 financial solutions advisors across 3,700 financial centers. Notably, 33% of all Consumer Investments accounts are held by Gen Z and Millennial clients, who represent 52% of all Merrill Guided Investing accounts.
The platform offers innovative features like Dynamic Insights and Idea Builder, providing AI-driven personalized guidance and investment tools. The service includes both self-directed options and guided investing with advisor support, catering to various investor preferences and experience levels.
Bank of America (NYSE: BAC) has announced it will release its fourth quarter 2024 financial results on Thursday, January 16, at approximately 6:45 a.m. ET. The company will host an investor conference call at 11:00 a.m. ET on the same day.
The bank serves approximately 69 million consumer and small business clients through approximately 3,700 retail financial centers and 15,000 ATMs, with roughly 58 million verified digital users. Bank of America maintains a significant presence across the United States and operates in more than 35 countries, offering a comprehensive range of financial services including banking, investing, asset management, and risk management products.
Investors can access the conference call by dialing 1.877.200.4456 (U.S.) or 1.785.424.1732 (international) with conference ID 79795. Replay options will be available from noon on January 16 through January 26.
Bank of America (NYSE: BAC) has announced the redemption of $2 billion in 3.366% Fixed/Floating Rate Senior Notes, originally due January 2026. The redemption is scheduled for January 23, 2025, with payment to be made at 100% of the principal amount plus accrued and unpaid interest through The Depository Trust Company facilities.
The company, serving approximately 69 million consumer and small business clients, operates through roughly 3,700 retail financial centers and 15,000 ATMs across the United States. With approximately 58 million verified digital users, Bank of America provides comprehensive financial services including banking, investing, asset management, and risk management products. The institution supports about 4 million small business households and maintains operations in the United States, its territories, and more than 35 countries.
Bank of America (BAC) has appointed Matt Reilly as the new president of Bank of America New Hampshire, succeeding Ken Sheldon who led the market for nearly 14 years. Reilly, who joined the company in 2014, will continue his role as Consumer Banking Market Leader while connecting clients, teammates and communities across the bank's eight lines of business.
Sheldon will transition to focus on Global Commercial Banking as a senior relationship manager. During his tenure, he oversaw more than $8 million in philanthropic support to local nonprofits, including a $500,000 anchor grant for the new Nashua Center for the Arts.
Bank of America currently serves approximately 69 million consumer and small business clients through 3,700 retail financial centers and 15,000 ATMs, with approximately 58 million verified digital users. The bank supports about 4 million small business households and operates across the United States and more than 35 countries.
Bank of America (NYSE: BAC) has announced the complete redemption of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series MM and corresponding depositary shares. The redemption will occur on January 28, 2025, at a price of $1,000 per depositary share. Shareholders will receive a separate dividend payment of $21.50 per depositary share for the current semi-annual period from July 28, 2024, to January 28, 2025, payable to holders of record on January 1, 2025. The redemption will be processed through The Depository Trust Company, with Computershare acting as the redemption agent.
Bank of America (BAC) has announced its Board of Directors' authorization of regular cash dividends for preferred stock series for Q1 2025. The dividend schedule includes seven different series of preferred stock with varying rates and payment dates:
Key dividend rates include 7.25% for Series L ($18.125 per share), 5.875% for Series HH ($0.3671875), 4.375% for Series NN ($0.2734375), and 6.125% for Series TT ($15.3125000). Most dividends will be paid in late January 2025, with record dates primarily set for January 1, 2025. The bank serves approximately 69 million consumer and small business clients through 3,700 retail centers and 15,000 ATMs, with 58 million verified digital users.
The 2025 Bank of America Chicago Marathon has received a record-breaking 160,000 applications, with more than 53,000 participants expected to cross the finish line on October 12, 2025. This event is part of the Bank of America Chicago Distance Series, which includes the Shamrock Shuffle 8K Run and Chicago 13.1. The 2024 series saw over 81,000 finishers, with 2,700 completing all three events.
The organizers unveiled new logos connecting each event and celebrating their unique attributes. The Chicago 13.1 is scheduled for June 1, 2025, expecting 9,000 finishers, while the Shamrock Shuffle will take place on March 23, 2025, with an anticipated 24,000 participants. Since 2002, the Marathon's Charity Program has generated over $322 million for various causes.
Bank of America's CashPro App is set to exceed $1 trillion in payment approvals by the end of 2024, marking a 25% year-over-year increase. The app, part of BofA's digital banking platform, serves approximately 550,000 users at 40,000 companies globally, managing payments, deposits, loans, and trade finance transactions.
CashPro is ranked as the No. 1 mobile app for corporate and commercial banking, offering payment initiation across four channels: online, app, APIs, and Connect. The platform provides enhanced security features and convenience for corporate clients, with December typically seeing the highest volume of payment approvals due to year-end activity and holiday season travel.
Bank of America has fully implemented Paze, a streamlined online checkout solution, across all eligible credit and debit cards just in time for the holiday season. The solution features card tokenization for enhanced security and doesn't require manual card entry, passwords, or third-party apps. Newegg, an online electronics retailer, has recently adopted Paze.
Paze is operated by Early Warning Services, , with Bank of America being one of seven founding members. The solution will be available to more than 150 million debit and credit cards at general availability. Merchants benefit from increased checkout conversion and fraud reduction, with no transaction fees for offering Paze.
Bank of America (BAC) has expanded its partnership with FIFA to become an Official Partner of the FIFA Club World Cup 2025™, following its August 2024 appointment as the Official Bank Sponsor of FIFA World Cup 26™. The tournament will feature 32 of the world's top clubs competing across 11 U.S. cities from June 15 to July 13, 2025.
The partnership aims to support football's growth while delivering economic and social impact in communities where Bank of America operates. The tournament will begin in Miami and conclude in New York New Jersey, featuring clubs from all six FIFA confederations competing for the new FIFA Club World Cup Trophy.
Bank of America serves approximately 69 million consumer and small business clients through 3,700 retail centers and 15,000 ATMs, with 58 million verified digital users. The bank operates across the United States and more than 35 countries, providing banking, investing, asset management, and risk management services.
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