Bank of America Corporation reports developments across consumer banking, wealth management, corporate and investment banking, global markets and capital actions. The company serves individual consumers, small and middle-market businesses, large corporations, governments and institutions with banking, investing, asset management, lending, trading and risk-management products and services.
Recurring BAC news includes operating and financial results, regular dividends on common and preferred stock, Merrill Wealth Management platform and advisor updates, co-branded credit card partnerships, and community or cultural initiatives such as the Bank of America Art Conservation Project. Coverage also reflects the company's digital banking, small-business services and international banking presence.
Bank of America (BAC) named Josh Barnes president of its Knoxville market, effective October 28, 2026, succeeding Terry L. Cline.
Cline retired earlier this year. Barnes will lead local market strategy and collaboration across the bank's eight lines of business, with responsibility for expanding client relationships and pursuing market-share growth. He will continue as Consumer Investment Market Leader for Bank of America and Merrill, covering Nashville, Chattanooga and Knoxville. Barnes joined the bank in Knoxville in 2012 and moved into market leadership in 2024.
Bank of America (BAC) released a holiday spending survey showing early to mid-December could overtake Black Friday as consumers’ main shopping window. Among respondents, 29% plan to do most holiday shopping in early to mid-December, up from 19% in 2025; Black Friday fell to 17% from 25%.
Spending plans remain restrained: 48% expect to spend about the same as last year, 39% less and 12% more, versus 39%, 42% and 19%, respectively, in 2025. Credit cards are preferred by 49%, up from 32%. Meanwhile, 72% do not plan to use AI shopping tools, up from 49%, and planned gift purchases through social media fell to 14% from 35%. Some 37% report encountering a holiday shopping scam tactic in recent years.
The survey covers 2,062 U.S. adults. Separately, Bank of America Institute reported holiday spending was already increasing through September, contrasting with restrained spending intentions.
Bank of America (BAC) opened its first Wisconsin financial centers this month and plans to enter Alabama and Louisiana in 2027. The Madison and Milwaukee openings begin a planned 19-center Wisconsin expansion through 2030, creating approximately 130 job opportunities. Plans call for 10 centers in Alabama beginning in Q1 2027 and eight in Greater New Orleans beginning in the second half of 2027.
The bank plans approximately 50 new centers annually, including more than 30 across 22 existing markets in the coming months. It has invested more than $5 billion in its network since 2016. More than 400 renovation projects were completed in 2026, with more than 300 additional projects across 69 markets planned in the coming months. Its approximately 3,500 financial centers reach approximately 83% of the U.S. population.
Citi (C) and its financial partners announced a $63 billion transaction to finance Broadcom-based AI compute capacity for Anthropic. Bank of America (BAC), Blackstone (BX) and Morgan Stanley (MS) are the other lead financial partners. The transaction forms part of Broadcom's (AVGO) previously announced compute capacity agreement, with deliveries expected to begin in calendar 2027.
A newly formed special purpose vehicle, a separate entity established for the transaction, will use committed financing to purchase Broadcom AI accelerators and networking solutions for lease to Anthropic. Bank of America, Citi and Morgan Stanley are arranging the first-lien financing, which has priority over second-lien financing. Blackstone is the sole provider of the committed second-lien portion. Broadcom is providing residual value support to the vehicle equivalent to the first-lien financing amount.
Bank of America (BAC) appointed Jim Fitterling and Bill Thomas to its Board of Directors, with both appointments effective immediately.
Fitterling is Dow's executive chairman and served as its chief executive officer from 2018 to 2026. He has also served on 3M's board since 2021 and became its lead director in 2024. Thomas served as KPMG International's global chairman and chief executive officer from 2017 to 2026. A chartered accountant, he brings nearly four decades of experience in audit, accounting and financial reporting.
Bank of America (BAC) declared a regular quarterly cash dividend of $0.32 per share on its common stock.
The common dividend is payable December 24, 2026, to shareholders of record December 4, 2026. The board also declared a regular quarterly dividend of $1.75 per share on its 7% Cumulative Redeemable Preferred Stock, Series B, payable January 25, 2027, to shareholders of record January 11, 2027.
Bank of America (BAC) released a family office study examining how generational transitions are changing investment priorities and succession planning. Among offices with a potential next-generation principal, 79% predict alternative investments will become a larger portfolio share, while 77% expect philanthropic priorities to change.
Succession planning showed gaps: 83% have identified a successor, but only 27% have a trust distribution policy or guiding principles. Among offices that experienced a transition within the past decade, only 37% described the incoming principal as very prepared. Meanwhile, 59% plan to increase private equity exposure over the next three years. On borrowing, 77% believe the next generation will be more interested in using credit to build wealth. Regular employee use of artificial intelligence was reported by 42% of offices.
Bank of America (BAC) authorized regular cash dividends on preferred stock, with payments scheduled for November and December 2026. Series E will pay $0.27806 per depositary share on November 16 to holders of record October 30. Series F and Series G will each pay $1,151.69600 per preferred share on December 15 to holders of record November 30. Other announced series have payment dates from November 16 through December 28.
Bank of America (NYSE: BAC) reported its third quarter 2026 financial results and made the earnings materials available online. The news release, supplemental filing and investor presentation are available on its Investor Relations website. A Form 8-K containing the financial results is also available on the U.S. Securities and Exchange Commission's website.
Bank of America (BAC) has named Consumer Banking region executive Jeff Crabtree president of its Sarasota/Manatee market in Florida. He succeeds Stephenie Whitfield, who recently relocated to Georgia for another role with the company.
Crabtree will remain a Consumer Banking region executive while overseeing collaboration across the company's eight business lines in Sarasota/Manatee. His remit includes efforts to grow local market share and expand client relationships. He has 15 years of experience with Bank of America, including positions in Consumer Banking and Merchant Services.