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 (BAC) is a global leader in financial services, serving millions through consumer banking, wealth management, and institutional solutions. This page aggregates official announcements, strategic initiatives, and market-moving developments from one of the world's most influential financial institutions.
Investors and industry observers will find a curated collection of earnings reports, regulatory filings, and leadership updates, alongside analysis of BAC's digital banking innovations and sustainability efforts. The repository serves as a definitive source for tracking the company's position in global markets, technology adoption trends, and responses to economic shifts.
Content highlights include updates on Merrill Lynch wealth management services, CashPro platform enhancements, and corporate responsibility initiatives. Users can monitor BAC's activities across four core segments: Consumer Banking, Global Wealth Management, Global Banking, and Global Markets.
Bookmark this page for streamlined access to verified information about Bank of America's operational milestones, partnership announcements, and regulatory compliance updates. Check regularly for new insights into how BAC navigates evolving financial landscapes while maintaining its industry leadership.
Bank of America's 2024 Women & Minority Business Owner Spotlight reveals 78% of small and mid-sized business owners expect revenue growth in the next 12 months. This optimism is shared across diverse groups, with 76% of women, 82% of Hispanic-Latino, 84% of Black/African American, and 83% of AAPI entrepreneurs anticipating growth. The survey, covering over 2,000 business owners, shows 66% believe local economies will improve, while 60% expect national economic improvement.
Key findings include:
- 57% of women business owners plan to expand
- 78% of Hispanic-Latino owners plan expansion
- 77% of Black/African American owners plan to expand
- 73% of AAPI owners plan expansion
Business size impacts outlook, with 78% of mid-sized businesses planning expansion compared to 50% of small businesses. Challenges include inflation, political environment, and labor issues, with many owners implementing strategies to attract talent and improve customer interactions.
Bank of America Private Bank's 2024 study reveals that 91% of affluent Americans engage in philanthropy, with notable differences in giving motivations and strategies across generations and genders. Key findings include:
- Younger donors (21-43) prioritize direct action like volunteering and fundraising, while older donors prefer direct financial contributions.
- Generational differences in cause selection: Younger donors focus on homelessness, human rights, and climate change, while older donors prioritize religious organizations and animal welfare.
- Gender divide: Women are more likely to support causes advancing women and girls, and take the lead in teaching children about philanthropy.
- Intergenerational skepticism: 88% of younger donors feel prepared for philanthropic leadership, but only 50% of older donors agree.
The study surveyed 1,007 high-net-worth individuals with at least $3 million in investable assets.
Bank of America (NYSE: BAC) has announced it will release its third quarter 2024 financial results on Tuesday, October 15 at approximately 6:45 a.m. ET, followed by an investor conference call at 8:30 a.m. ET. The results, supplemental filing, and investor presentation will be accessible on the company's Investor Relations website.
Investors can join the conference call by dialing 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), with the conference ID 79795. Live audio and presentation slides will also be available on the website. Replays of the call can be accessed through the website or by phone until October 25.
Bank of America serves approximately 69 million consumer and small business clients with 3,800 retail financial centers, 15,000 ATMs, and 58 million verified digital users in the United States. The company offers a wide range of financial services globally, including wealth management, corporate and investment banking, and small business support.
Bank of America (NYSE: BAC) has announced the redemption of $2 billion in 2.456% Fixed/Floating Rate Senior Notes, due October 2025. The redemption will occur on October 22, 2024, with the redemption price set at 100% of the principal amount plus accrued and unpaid interest. Interest on the Notes will cease to accrue on the redemption date.
The redemption will be processed through The Depository Trust Company, with The Bank of New York Mellon Trust Company, N.A. serving as the trustee and paying agent. This move demonstrates Bank of America's active management of its debt obligations and could potentially impact its financial structure.
The Bank of America Chicago Distance Series, connecting the Chicago Marathon, Chicago 13.1, and Shamrock Shuffle 8K Run, has announced registration details for its 2025 events. The series rewards participants who complete all three races with an exclusive medal and guaranteed entry to the 2026 Chicago Marathon.
Registration for the Chicago 13.1 and Shamrock Shuffle opens today with special discounted pricing. The Chicago Marathon application period will run from October 22 to November 21, 2024, with a non-guaranteed entry drawing and guaranteed entry options available. The entry fee is $245 for U.S. residents and $255 for international participants.
The Chicago 13.1 is scheduled for June 1, 2025, with early registration at $102 until October 22, 2024. The Shamrock Shuffle will take place on March 23, 2025, with early 8K Run registration at $46 until October 22, 2024.
Bank of America (NYSE: BAC) has launched SafeBalance Banking® for Family Banking, a new solution designed to help parents support their children's financial education. This account offers tools and resources for parents to teach healthy financial habits and money management through a secure digital experience.
Key features include an intuitive digital interface, financial literacy resources, a child's first debit card, flexible parental controls, and no monthly maintenance fees for children under 25. The account is initially available in select states, with nationwide availability expected by December.
A Bank of America survey found that 90% of parents believe they are responsible for teaching financial literacy to their children, with 61% starting these conversations by age 10. The new Family Banking solution aims to address this need, offering a foundation for young people to manage money with parental support.
The Bank of America Chicago Marathon generated a record-breaking $547 million economic impact for Chicago in 2023, a 42% increase from 2022's $386 million, according to an independent study. Since 2017, the marathon has contributed over $2.3 billion to the local economy. The 2023 event saw 48,472 participants, up 13% from 2022, with 35% being international visitors.
The marathon directly created 3,694 full-time jobs and generated $182.98 million in wages and salary income. The tourism industry, including hospitality, food service, retail, and transportation across all 50 Chicago wards, benefited most with $177 million in economic activity. The 46th Bank of America Chicago Marathon is scheduled for October 13, 2024, at Grant Park.
Bank of America (BAC) has announced plans to open more than 165 new financial centers across 63 markets by the end of 2026, continuing its decade-long expansion strategy. This includes nearly 40 centers in 2024 alone. The bank is also expanding into Louisville, Kentucky, with plans for five centers there by the end of 2025.
Since 2014, BofA has invested over $5 billion in its financial center expansion. The company has also completed renovations of more than 3,000 existing centers, focusing on creating meeting spaces for in-depth financial discussions and improving technology access.
Despite 95% of client interactions occurring on digital platforms, BofA reports nearly 10 million appointments with financial specialists in centers over the past year. The bank now provides banking access to 246 million people across more than 200 markets, covering over 75% of the U.S. population.
Bank of America (NYSE: BAC) has announced the full redemption of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z, and the corresponding depositary shares. The redemption will occur on October 23, 2024, at a price of $1,000 per depositary share. Additionally, a dividend of $32.50 per depositary share will be paid separately on the same date to holders of record as of October 1, 2024.
The redemption process will be handled through The Depository Trust Company (DTC), with Computershare Inc. and Computershare Trust Company, N.A. acting as the redemption agents. This announcement does not constitute an official notice of redemption under the governing documents of the Preferred Stock or Depositary Shares.
Bank of America has appointed David Dowd as the new president of Bank of America Asheville. In this role, Dowd will lead market efforts, connect clients and communities to the bank's services, and oversee initiatives to grow market share and advance economic mobility. Dowd, who is also senior vice president of Business Banking for Western North Carolina, has a strong background with the bank and deep community ties.
Dowd is actively involved in several local nonprofit organizations, including Asheville Community Theatre and United Way of Asheville-Buncombe County. He holds an undergraduate degree in Anthropology and Linguistics from the University of Montana.
Bank of America serves approximately 69 million consumer and small business clients with about 3,800 retail financial centers and 15,000 ATMs across the United States. The company is listed on the New York Stock Exchange under the ticker symbol BAC.
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