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 (NYSE: BAC) has announced the redemption of two series of senior notes on April 2, 2025: $500 million of Floating Rate Senior Notes and $3 billion of 3.384% Fixed/Floating Rate Senior Notes, both due April 2026.
The redemption price for each series will be 100% of the principal amount plus accrued and unpaid interest until the redemption date. The payment will be processed through The Depository Trust Company, with The Bank of New York Mellon Trust Company, N.A. serving as trustee and paying agent.
BAC currently 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.
Bank of America (NYSE: BAC) has appointed Jason Edelmann as president of Bank of America Fort Lauderdale. In this role, Edelmann will be responsible for connecting clients, teammates, and communities across the bank's eight lines of business. He will continue his current position as Merrill Florida Tropics market executive, leading a team of over 300 advisors across five South Florida offices.
Edelmann, who joined the company in 2007, serves on the advisory board of Riverwalk Fort Lauderdale. The appointment aligns with Bank of America's strategy to deliver comprehensive financial services, as highlighted by CEO Brian Moynihan. The bank currently serves approximately 69 million consumer and small business clients through 3,700 retail centers and 15,000 ATMs, with 58 million verified digital users.
Bank of America (NYSE: BAC) has announced that its Board of Directors has authorized regular cash dividends on preferred stock series, payable in April and May 2025. The bank continues to maintain its strong market position, serving approximately 69 million consumer and small business clients through its extensive network of 3,700 retail financial centers and 15,000 ATMs.
The financial institution boasts approximately 58 million verified digital users and provides support to about 4 million small business households. Bank of America operates across the United States, its territories, and more than 35 countries, offering a comprehensive range of banking, investing, asset management, and risk management services to individual consumers, small and middle-market businesses, and large corporations.
Bank of America (NYSE: BAC) has announced the redemption of CAD400,000,000 Floating Rate Senior Notes originally due March 2026. The redemption will take place on March 16, 2025, with payment processed on March 17, 2025, due to business day scheduling. The redemption price equals 100% of the principal amount plus accrued and unpaid interest.
The payment will be processed through CDS Clearing and Depository Services Inc., with The Bank of New York Mellon Trust Company, N.A. serving as trustee and BNY Trust Company of Canada as paying agent. Interest on the Notes will cease to accrue on the redemption date.
As a leading financial institution, 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.
Bank of America (NYSE: BAC) and Youth on Course announced a multi-year strategic partnership to expand youth access to golf across America. The initiative aims to increase affordable golf opportunities by adding municipal golf courses to the Youth on Course network, which provides subsidized rounds of golf for $5 or less to youth under 18.
Youth on Course, a nonprofit organization founded in 2006, has facilitated over 4 million subsidized rounds across the United States, Canada, and Australia. The partnership aligns with Bank of America's existing golf commitments, including its Champion Partner status with the Masters Tournament and partnerships with various amateur championships.
The collaboration seeks to make golf more accessible in communities nationwide, combining Youth on Course's established program with Bank of America's extensive financial network serving approximately 69 million consumer and small business clients through 3,700 retail centers and 15,000 ATMs.
Bank of America (BAC) reported significant growth in digital interactions, reaching a record 26 billion in 2024, up 12% year-over-year. The bank's AI-driven virtual assistant Erica surpassed 2.5 billion total interactions, serving 20 million clients. Digital alerts increased 11% to nearly 12 billion, reaching 37.6 million clients.
Client logins hit 14.3 billion, with a record Q4 of 3.9 billion logins. Digital payments showed strong growth, with Zelle transactions reaching 1.6 billion valued at $470 billion, up 25% and 26% respectively. Corporate clients approved over $1 trillion in payments through the CashPro App, a 25% increase. Digital sales reached 55% of total sales, up from 49% the previous year.
Bank of America (NYSE: BAC) has announced the redemption of CAD550,000,000 3.515% Fixed/Floating Rate Senior Notes, originally due March 2026. The redemption will take place on March 24, 2025, with a redemption price equal to 100% of the principal amount plus accrued and unpaid interest up to the redemption date.
The redemption process will be handled through CDS Clearing and Depository Services Inc., with The Bank of New York Mellon Trust Company, N.A. serving as trustee and BNY Trust Company of Canada as the paying agent. Interest on the Notes will cease to accrue on the redemption date.
Bank of America 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 operates across the United States and more than 35 countries, providing comprehensive banking, investing, asset management, and risk management services.
Bank of America (BAC) has received top rankings in Crisil Coalition Greenwich's 2024 Digital Transformation Benchmarking Study, particularly for its CashPro digital banking platform which serves over 40,000 corporate and commercial clients globally. The bank secured multiple No. 1 rankings in Digital Channels, including its Mobile Application and TMS & ERP Integrations.
The bank achieved leading positions in Payments & Treasury Management, maintaining its top spot in Analytics & Insights for the third consecutive year. BAC was also recognized as a Share Leader in Corporate Cash Management and Corporate Banking Market Penetration in the U.S., and received 'Best Bank' awards in multiple categories including Corporate Banking, Digital Services, and Capital Markets.
CashPro's platform enables clients to manage treasury, trade and credit operations, highlighting BAC's commitment to digital innovation and client experience enhancement.
Bank of America (BAC) has announced the full redemption of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series AA, and corresponding depositary shares. The redemption will occur on March 17, 2025, at a redemption price of $1,000 per depositary share. Shareholders will receive a separate dividend payment of $30.50 per depositary share for the current semi-annual period.
The redemption affects depositary shares representing a 1/25th interest in the Preferred Stock, which are held through The Depository Trust Company (DTC). Computershare Inc. and Computershare Trust Company will act as redemption agents. The company maintains a strong market presence, serving approximately 69 million consumer and small business clients through 3,700 retail centers and 15,000 ATMs, with 58 million verified digital users.
Bank of America (NYSE: BAC) has appointed Maria Martinez to its Board of Directors, effective immediately. Martinez, 67, brings over four decades of technology and telecommunications experience, most recently serving as Chief Operating Officer at Cisco Systems from 2018 to 2024. In this role, she oversaw Worldwide Operations, Customer Experience, Security & Trust, and Supply Chain functions.
Martinez's extensive career includes leadership positions at major technology companies including Salesforce, Microsoft, Motorola Solutions, and AT&T Bell Laboratories. She currently serves on the boards of Tyson Foods and McKesson. Martinez holds a Bachelor's degree in electrical engineering from the University of Puerto Rico and a Master's degree in computer engineering from Ohio State University.