Corporate and Financial News

7/9/20 4:10 pm EDT

Bank of America, N.A. announced today that it will redeem all $1,500,000,000 principal amount outstanding of its Floating Rate Senior Bank Notes, due July 2021 (CUSIP No. 06050TMN9) (the “Notes”), on July 27, 2020, 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 July 27, 2020.

Payment of the redemption price for the Notes will be made through the facilities of The Depository Trust Company. Bank of America, N.A. (Global Custody and Agency Services) is the U.S. registrar and paying more...

7/9/20 10:00 am EDT

As previously announced, Bank of America will report its second-quarter 2020 financial results on Thursday, July 16. The results will be released at approximately 6:45 a.m. ET, followed by an investor presentation at 8:30 a.m. ET.

The news release, supplemental filing and investor presentation can be accessed in the following ways:

  • Bank of America newsroom at more...
7/2/20 4:10 pm EDT

Bank of America Corporation announced today that it will redeem on July 21, 2020 all $1,000,000,000 principal amount outstanding of its Floating Rate Senior Notes, due July 2021 (CUSIP No. 06051GGN3) (the “Floating Rate Notes”), and all $2,500,000,000 principal amount outstanding of its 2.369% Fixed/Floating Rate Senior Notes, due July 2021 (CUSIP No. 06051GGP8) (the “Fixed/Floating Rate Notes” and, together with the Floating Rate Notes, the “Senior Notes”).

The redemption price for each series of the Senior Notes will be equal to 100% of the principal amount of such series, plus more...

6/29/20 4:35 pm EDT

Bank of America today commented on the results of the Federal Reserve’s 2020 Comprehensive Capital Analysis and Review (CCAR). The company continues to be well capitalized and able to serve clients, communities and businesses, even during times of severe economic and financial market stress.

“Our decade-long focus on Responsible Growth has put us in a strong position to support consumers and businesses with capital and advice, while continuing to strengthen communities and deliver returns to shareholders through the economic cycle. This annual regulatory review, conducted since more...

6/11/20 4:15 pm EDT

Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock:

 

Series of Preferred Stock   Dividend per Share
or Depositary Share
1
  more...
6/2/20 4:00 pm EDT

Bank of America Corporation today announced the following 2021 reporting dates for quarterly financial results:

  • Fourth quarter 2020 – Tuesday, January 19, 2021
  • First quarter 2021 – Thursday, April 15, 2021
  • Second quarter 2021 – Wednesday, July 14, 2021
  • Third quarter 2021 – Thursday, October 14, 2021

The results will be released at approximately 6:45 a.m. Eastern Time. The company will host a conference call for investors after the results are announced. The January 19 conference call will begin at 8:30 a.m. more...

6/2/20 9:30 am EDT

Dean Athanasia, president of Consumer and Small Business at Bank of America, will participate in the Morgan Stanley Virtual U.S. Financials Conference on Tuesday, June 9, 2020 at 1:45 p.m. Eastern Time. A live audio webcast of this virtual event will be accessible through the Bank of America Investor Relations website at http://investor.bankofamerica.com. A replay will also be available.

 

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and more...

5/19/20 4:01 pm EDT

Bank of America announced today the issuance of a $1 billion corporate social bond to support the fight against the COVID-19 pandemic, the first such offering by a U.S. commercial bank.

The four-year bond, which is callable in three years, will pay interest semi-annually at a fixed rate of 1.486% for the first three years, and will pay interest quarterly at a floating rate thereafter. This offering is the seventh environmental, social and governance (ESG)-themed bond issued by Bank of America since 2013. Previous offerings – including five “green” bonds and one “social” bond – have more...

5/20/20 9:30 am EDT

Brian Moynihan, chairman and CEO, Bank of America, will participate in the Bernstein Strategic Decisions Conference on Wednesday, May 27, 2020 at 2:30 p.m. Eastern Time. A live audio webcast of this virtual event will be accessible through the Bank of America Investor Relations website at http://investor.bankofamerica.com. A replay will also be available.

 

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and more...

5/19/20 9:30 am EDT

Andy Sieg, president of Bank of America’s Merrill Lynch Wealth Management, will participate in the Deutsche Bank Global Financial Services Conference on Tuesday, May 26, 2020 at 9:50 a.m. Eastern Time. A live audio webcast of this virtual event will be accessible through the Bank of America Investor Relations website at http://investor.bankofamerica.com. A replay will also be available.

 

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and more...

5/7/20 4:10 pm EDT

Bank of America, N.A. announced today that it will redeem all $1,607,959,000 principal amount outstanding of its Floating Rate Senior Bank Notes, due May 2021 (CUSIP No. 06050TML3) (the “Notes”), on May 24, 2020, 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 May 24, 2020. Since May 24, 2020 is not a business day, the redemption price will be paid on the succeeding business day, May 26, 2020.

Payment of the redemption price for the Notes will be made through the facilities of The more...

5/4/20 1:18 pm EDT

Bank of America announced today that it has received Small Business Administration (SBA) loan approvals for 265,500 small businesses under the SBA’s Paycheck Protection Program (PPP). This represents $24.9 billion in needed relief for small businesses. More than 256,000 of these small businesses have received a loan number since the SBA reopened the PPP funding on April 27.

Of the SBA applications submitted to date:

  • 98% are for companies with fewer than 100 employees.
  • 76% are for companies with fewer than 10 employees.
  • 93% are for more...
4/22/20 4:00 pm EDT

Bank of America today announced preliminary results of matters voted upon during the company’s 2020 annual meeting of stockholders.

The 17 board of director nominees were elected, with at least 93 percent of the vote cast in favor of each. An advisory proposal on executive compensation was approved, with more than 94 percent of the vote cast in favor. The appointment of the company’s independent accounting firm was approved. No stockholder proposals were approved.

more...

4/22/20 9:33 am EDT

Bank of America Corporation today announced the board of directors declared a regular quarterly cash dividend on Bank of America common stock of $0.18 per share, payable on June 26, 2020 to shareholders of record as of June 5, 2020.

The board also declared a regular quarterly cash dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B. The dividend is payable on July 24, 2020 to shareholders of record as of July 10, 2020.

 

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual more...

4/15/20 6:45 am EDT

Bank of America reported its first-quarter 2020 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

        -  Q1 2020 Financial Results Press Release

        -   more...

4/8/20 4:30 pm EDT

Bank of America announced today that it will host the company’s 2020 annual meeting of shareholders virtually due to public health concerns resulting from the coronavirus (COVID-19) and the related protocols federal, state, and local governments have implemented. The 2020 annual meeting of shareholders will begin at 10 a.m. Eastern Time on Wednesday, April 22. Shareholders will not be able to attend the 2020 annual meeting in person.

An audio webcast of the meeting will be available on the company’s more...

4/8/20 9:00 am EDT

As previously announced, Bank of America will report its first-quarter 2020 financial results on Wednesday, April 15. The results will be released at approximately 6:45 a.m. ET, followed by an investor presentation at 8:30 a.m. ET.

The news release, supplemental filing and investor presentation can be accessed in the following ways:

  • Bank of America newsroom at more...
4/7/20 4:15 pm EDT

Bank of America Corporation today announced the Board of Directors has authorized regular cash dividends on the outstanding shares or depositary shares of the following series of preferred stock:

Series of Preferred Stock

   

 

more...
3/31/20 9:05 am EDT

Hace un año, Bank of America anunció que durante un periodo de dos años aumentaría su salario mínimo a $20 por hora en los Estados Unidos.

El primer aumento a $17 se realizó en mayo del 2019. Seis meses después, la compañía anunció que adelantaría un año el incremento a $20; y en marzo de este año, Bank of America realizó este cambio.

“Invertir en nuestros compañeros de equipo, al pagarles de manera justa y brindarles beneficios y programas competitivos, es clave para nuestro compromiso de ser un excelente lugar de trabajo”, dijo Sheri Bronstein, directora de Recursos more...

3/31/20 9:00 am EDT

One year ago, Bank of America announced it would raise its U.S. minimum hourly wage to $20 over a two-year period. The first increment to $17 was made in May 2019; six months later, the company announced it would accelerate the move to $20 by a year; and in March this year, Bank of America made this change.

“Investing in our teammates by paying fairly, and providing competitive benefits and programs is key to our commitment to being a great place to work,” said Sheri Bronstein, chief human resources officer at Bank of America. “Across the company, we believe that being a great more...