Bank of America Corporation today announced the Board of Directors
declared a regular quarterly cash dividend on Bank of America common
stock of $0.05 per share, payable June 26 to shareholders of record as
of June 5.
The board also declared a regular quarterly cash dividend of $1.75 per
share on the 7 percent Cumulative Redeemable Preferred Stock, Series B.
The dividend is payable July 24 to shareholders of record as of July 10more...
Sense of Responsibility for Employees’ Financial Well-being Driving Companies to Broaden Financial Educational Offering and Increase Accessibility
The vast majority of companies (83 percent) today feel a sense of
responsibility for the financial wellness of their employees, impacting
the benefits, resources and financial education they offer, according to
the latest Bank of America Merrill Lynch Workplace
Benefits Report. Based on a nationwide survey of 1,020 companies of
all sizes, key insights from the annual report include:
Nearly three-quarters of plan sponsorsmore...
Results Include $1.0 Billion ($0.06 per Share) in Annual Retirement-eligible Incentive Costs and $0.5 Billion ($0.03 per Share) in Charges to Revenue for Market-related Net Interest Income Adjustments
Continued Business Momentum
Period-end Deposit Balances Increased to Record $1.15 Trillion
Originated $17 Billion in First-lien Residential Mortgage Loans and Home Equity Loans
Issued 1.2 Million New Credit Cards With 66 Percent Going to Existing Relationship Customers
Merrill Edge Brokerage Assets Increased 18 Percent From Q1-14 to $118 Billion
Wealth Management Asset Management Fees up 10 Percent From Q1-14 to $2.1 Billion
Global Banking Increased Period-end Loans by $6 Billion From Q1-14 to $296 Billion
Bank of America Merrill Lynch Firmwide Investment Banking Fees at $1.5 Billion, With Highest Advisory Fees Since the Merrill Lynch Merger
Continued Progress on Expense Management; Credit Quality Remains Strong
Reduced Noninterest Expense Excluding Litigation and Annual Retirement-eligible Incentive Costs by 6 Percent From Q1-14 to $14.3 Billion(A)
Number of 60+ Days Delinquent First Mortgage Loans Serviced by Legacy Assets and Servicing Down 45 Percent From Q1-14 to 153,000 Loans
Credit Quality Improved With Adjusted Net Charge-offs Down 28 Percent From Q1-14(B)
Record Capital and Liquidity Levels
Estimated Common Equity Tier 1 Ratio Under Basel 3 (Standardized Approach, Fully Phased-in) 10.3 Percent; Advanced Approaches 10.1 Percent(C)
Estimated Supplementary Leverage Ratios Above 2018 Required Minimums, With Bank Holding Company at 6.3 Percent and Primary Bank at 7.1 Percent(D)
Record Global Excess Liquidity Sources of $478 Billion, up $51 Billion From Q1-14; Time-to-required Funding at 37 Months
Consolidated Liquidity Coverage Ratio Exceeds 2017 Requirements(E)
Tangible Book Value per Share Increased 7 Percent From Q1-14 to $14.79 per Share(F)
Book Value per Share Increased 4 Percent From Q1-14 to $21.66 per Share
First-quarter 2015 Earnings Press ReleaseSupplemental First-quarter 2015 Financial InformationBank of America Corporation today reported net income of $3.4 billion, or $0.27 per diluted share, for the first quarter of 2015, compared to a loss of $276 million, or $0.05 per share, in the year-ago period.Revenue, net of interest expense, on an FTE basis, declined $1.3 billion from the first quarter of 2014 to $21.4 billion(G). Nearly $1 billion of this decline was related to a $757 millionmore...