21 of 500
Bank of America Corp.
Bank of America Corp.
21
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.

Headquarters:
100 N. Tryon St.
Charlotte, NC. 28255
704-386-5681
Website: www.bankofamerica.com
Network with Bank of America Corp.
Key financials
$ millions
% change from 2011
Revenues
100,078
-13
Profits
4,188
189.6
Assets
2,209,974
Stockholder's equity
236,956
Market cap (on 3/29/2013)
131,790.9
Profits as % of
Revenues
4.2
Assets
0.2
Stockholders' equity
1.8
Earnings per share
2012$
0.25
% change from 2011
2,400
2002-2012 annual growth rate %
-21.9
Total return to investors
%
2012
109.7
2002-2012 annual rate
-7.6
From the May 20, 2013 issue


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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
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