21 of 500
Bank of America Corp.
Bank of America Corp.
Financials: Latest Results
Rank: 21
Previous rank: 13
CEO: Brian T. Moynihan

Last year was the year of the shrink for Bank of America. After a number of missteps and a string of lawsuits, BofA took a step back from the mortgage market, ending its business of making loans through outside brokers. The point was to cut costs, but the timing was terrible. Low interest rates and a rebound in housing prices led to a boom in refinancing in 2012. Rivals cashed in. BofA’s overall revenue, on the other hand, fell by $15 billion.

Investors, however, seemed to like CEO Brian Moynihan’s cost cutting more than they minded the mortgage miss. BofA shares are up 40% in the past year. Moynihan has a new plan to boost revenue, essentially creating a rewards program for customers who do all their banking and borrowing at BofA. It may work, but in mid-April the bank agreed to pay $500 million to Maine and other states, reimbursing them for losses on mortgage bonds -- a reminder that BofA’s legal woes are not over.

100 N. Tryon St.
Charlotte, NC. 28255
Website: www.bankofamerica.com
Network with Bank of America Corp.
Key financials
$ millions
% change from 2011
Stockholder's equity
Market cap (on 3/29/2013)
Profits as % of
Stockholders' equity
Earnings per share
% change from 2011
2002-2012 annual growth rate %
Total return to investors
2002-2012 annual rate
From the May 20, 2013 issue

What do you think of Bank of America Corp.?
Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S. and operate in the U.S. and file financial statements with a government agency. More
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.