Recent Updates — BAC
Bank of America Corporation issued 80,000 shares of 7.200% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series WW, with a liquidation preference of $25,000 per share. The company sold 2,000,000 depositary shares, each representing a 1/25th interest in one share of the preferred stock, to institutional investors. The filing also notes that dividend payments on common and junior preferred stock are restricted if dividends on the Series WW Preferred Stock are not declared or paid. Bank of America Corporation is a diversified financial services company providing banking, investment management, and wealth management products.
The Bank of America Corporation Board increased its size from 12 to 14 directors and appointed James Fitterling, Executive Chairman of Dow Inc., and William Thomas, former CEO of KPMG International, effective October 21, 2026. Mr. Fitterling joins the Enterprise Risk and Compensation committees, while Mr. Thomas serves on the Audit and Corporate Governance committees. Both receive standard non-employee director compensation including prorated restricted stock and cash awards. Bank of America is a leading global financial institution providing banking, investing, asset management, and risk management services to consumers, businesses, and institutions.
Bank of America reported third-quarter 2026 net income of $6.9 billion, or $0.91 per diluted share, compared to $8.3 billion, or $1.04 per diluted share, in the prior-year period. Results included a non-tax-deductible regulatory settlement charge of $1.2 billion ($0.17 per share) related to U.S. Bank Secrecy Act and Anti-Money Laundering compliance consent orders. Adjusted net income was $8.1 billion, or $1.08 per diluted share. Total revenue increased 3% year-over-year to $30.0 billion, driven by an 8% rise in net interest income to $16.4 billion and higher asset management fees. The company returned $8.3 billion to shareholders through dividends and share repurchases while maintaining a Common Equity Tier 1 ratio of 10.9%. Bank of America is a leading global financial institution providing banking, investing, asset management, and risk management products and services.
Bank of America Corporation reported its first-quarter 2026 financial results, announcing a net income of $8.6 billion, or $1.11 per diluted share. These results provide investors with essential data regarding the company's recent profitability and overall earnings performance.
Bank of America's Board approved $41 million in total compensation for CEO Brian T. Moynihan for 2025, an increase from $35 million in 2024. The raise follows a strong year of growth, including a 13% rise in net income to $30.5 billion and a 25% increase in the company's stock price. The package is heavily weighted toward performance-based equity tied to ambitious long-term return on assets and tangible book value targets, aligning executive incentives with shareholder interests.