Bank of America (BofA) plans to open dozens of branches over the next two years.Nearly 40 of those openings will happen this year, according to a Monday (Sept. 23) press release. The goal is to add more than 165 “financial centers” in 63 markets by the end of 2026. It follows the opening of more than 100 locations over the past two years.“We are reaching more and more clients through the expansion and modernization of our financial centers,” Aron Levine, president of preferred banking at Bank of America, sa ...

"We are reaching more and more clients through the expansion and modernization of our financial centers," said Aron Levine, President of Preferred Banking at Bank of America. "While most clients are using our digital capabilities for their everyday banking, they are visiting our centers for in-person conversations about their more complex financial needs and advice on their life priorities and financial goals."Open in Louisville Bank of America is continuing to expand its retail banking presence in Kentucky ...

Buffett has sold $7 billion of BofA. Is it a warning sign?Berkshire Hathaway CEO Warren Buffett has long been a fan of bank stocks. In fact, the banking/insurance sector has likely been the sector he's invested the most in over his career. In recent years, Bank of America (BAC -1.47%) has been Berkshire's No. 1 holding among bank stocks, but that seems to be changing.Buffett's conglomerate has been steadily selling off Bank of America, and it's not fully clear why. So what should investors do? Buffett and B ...

CHARLOTTE, N.C., Sept. 20, 2024 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z (CUSIP No. 060505EM2), liquidation preference $25,000 per share (the "Preferred Stock"), and the corresponding depositary shares each representing a 1/25th interest in a share of the Preferred Stock (CUSIP No. 060505EL4) (the "Depositary Shares"). The Depositary Shares will be redeemed simultaneously with ...

Group 1 - Bank of America has appointed David Dowd as president of Bank of America Asheville, where he will lead market integration and client relationship growth [1] - David Dowd has a strong background in business banking and has previously served as the Asheville market executive [1] - The bank aims to enhance economic mobility and strengthen communities under Dowd's leadership [1] Group 2 - Bank of America serves approximately 69 million consumer and small business clients in the U.S. with around 3,800 retail financial centers and 15,000 ATMs [3] - The company is a global leader in wealth management, corporate and investment banking, and serves clients in over 35 countries [3] - Bank of America offers innovative online products and services to approximately 4 million small business households [3]

In an aggressive start to its monetary policy easing, the Federal Reserve cut the interest rates by 50 basis points, bringing the fund rates to the 4.75-5% range.This marked the end of an era of aggressive interest rate hikes to tame “persistent” inflation. The central also indicated two more rate cuts this year, which will bring the Fed funds rate down to 4.4% in 2024.Following the announcement, the markets’ reaction was subdued, and all three major indexes ended in red on Wednesday. On the other hand, ind ...

The latest trading session saw Bank of America (BAC) ending at $39.62, denoting a +0.18% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.29% for the day. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.31%.Heading into today, shares of the nation's second-largest bank had gained 2.22% over the past month, lagging the Finance sector's gain of 2.97% and outpacing the S&P 500's gain of 1.57% in that time.The upcoming earnings release of ...

Core Viewpoint - Bank of America Corporation has announced the authorization of regular cash dividends on various series of preferred stock, indicating a commitment to returning value to shareholders [1][2]. Dividend Announcements - The following series of preferred stock will have dividends declared: - 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L: $18.125 per share, payable on October 30, with a record date of October 1 [2]. - Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z: $32.500 per share, payable on October 23, with a record date of October 1 [2]. - 5.875% Non-Cumulative Preferred Stock, Series HH: $0.3671875 per share, payable on October 24, with a record date of October 1 [2]. - 4.375% Non-Cumulative Preferred Stock, Series NN: $0.2734375 per share, payable on November 4, with a record date of October 15 [2]. - 4.125% Non-Cumulative Preferred Stock, Series PP: $0.2578125 per share, payable on November 4, with a record date of October 15 [2]. - 4.375% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series RR: $10.9375000 per share, payable on October 28, with a record date of October 1 [2]. - 6.125% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series TT: $15.3125000 per share, payable on October 28, with a record date of October 1 [2]. Company Overview - Bank of America is a leading global financial institution, providing a wide range of banking, investing, asset management, and risk management services [3]. - The company serves approximately 69 million consumer and small business clients through around 3,800 retail financial centers and approximately 15,000 ATMs [3]. - Bank of America is recognized for its digital banking services, with about 58 million verified digital users [3]. - The company operates in over 35 countries, serving corporations, governments, institutions, and individuals globally [3].

CHARLOTTE, N.C., Sept. 17, 2024 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on September 25, 2024, all $2,000,000,000 principal amount outstanding of its 0.981% Fixed/Floating Rate Senior Notes, due September 2025 (CUSIP No. 06051GJG5) (the "Notes"), at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the redemption date of September 25, 2024.  Interest on the Notes will cease to accrue on the redem ...

CBS and Paramount+ to Expand Weekend CoverageAUGUSTA, Ga., Sept. 17, 2024 /PRNewswire/ -- Fred Ridley, Chairman of Augusta National Golf Club and the Masters Tournament, announced today that Bank of America will become a Champion Partner of the Masters Tournament, beginning with the 2025 Masters Tournament. Additionally, the Chairman has announced that CBS Sports will expand coverage hours of the Tournament on Saturday and Sunday also beginning in 2025.Bank of America will join AT&T, IBM and Mercedes-Benz, ...