Independent Study Proves Event is Economically Crucial for Tourism Industry, Local Businesses, and Job GrowthCHICAGO, Sept. 24, 2024 /PRNewswire/ -- The Bank of America Chicago Marathon continues to generate significant impact for the Chicagoland region, with the 2023 race contributing a record-breaking $547 million to the city's economy, a 42% increase from the $386 million impact in 2022, according to an independent economic impact study conducted by Jones & Associates Economics.Since 2017, the Bank of Am ...

Bank of America (BAC) continues its aggressive branch expansion across the United States as part of a broader strategy to solidify customer relationships and tap into new markets. The bank, on Monday, announced plans to open more than 165 new financial centers by 2026-end, with nearly 40 set to open this year. This move aligns with BAC's commitment to broaden its retail presence and offer enhanced in-person services. The latest openings include Bank of America's first financial center in Louisville, KY, wit ...

When interest rate-cutting cycles hit the stock market, investors typically assume that they will positively affect most stocks, but that’s just not the case. Some could benefit, such as consumer discretionary names and others in the energy sector, considering that consumer and business activity tends to rise after cuts.However, those who are directly related to the financial sector, like banking stocks, see the effects of interest rate cuts get to them before anyone else. For this reason, investors should ...

Bank of America (BofA) plans to open dozens of branches over the next two years.Nearly 40 of those openings will happen this year, according to a Monday (Sept. 23) press release. The goal is to add more than 165 “financial centers” in 63 markets by the end of 2026. It follows the opening of more than 100 locations over the past two years.“We are reaching more and more clients through the expansion and modernization of our financial centers,” Aron Levine, president of preferred banking at Bank of America, sa ...

"We are reaching more and more clients through the expansion and modernization of our financial centers," said Aron Levine, President of Preferred Banking at Bank of America. "While most clients are using our digital capabilities for their everyday banking, they are visiting our centers for in-person conversations about their more complex financial needs and advice on their life priorities and financial goals."Open in Louisville Bank of America is continuing to expand its retail banking presence in Kentucky ...

Buffett has sold $7 billion of BofA. Is it a warning sign?Berkshire Hathaway CEO Warren Buffett has long been a fan of bank stocks. In fact, the banking/insurance sector has likely been the sector he's invested the most in over his career. In recent years, Bank of America (BAC -1.47%) has been Berkshire's No. 1 holding among bank stocks, but that seems to be changing.Buffett's conglomerate has been steadily selling off Bank of America, and it's not fully clear why. So what should investors do? Buffett and B ...

CHARLOTTE, N.C., Sept. 20, 2024 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z (CUSIP No. 060505EM2), liquidation preference $25,000 per share (the "Preferred Stock"), and the corresponding depositary shares each representing a 1/25th interest in a share of the Preferred Stock (CUSIP No. 060505EL4) (the "Depositary Shares"). The Depositary Shares will be redeemed simultaneously with ...

Group 1 - Bank of America has appointed David Dowd as president of Bank of America Asheville, where he will lead market integration and client relationship growth [1] - David Dowd has a strong background in business banking and has previously served as the Asheville market executive [1] - The bank aims to enhance economic mobility and strengthen communities under Dowd's leadership [1] Group 2 - Bank of America serves approximately 69 million consumer and small business clients in the U.S. with around 3,800 retail financial centers and 15,000 ATMs [3] - The company is a global leader in wealth management, corporate and investment banking, and serves clients in over 35 countries [3] - Bank of America offers innovative online products and services to approximately 4 million small business households [3]

In an aggressive start to its monetary policy easing, the Federal Reserve cut the interest rates by 50 basis points, bringing the fund rates to the 4.75-5% range.This marked the end of an era of aggressive interest rate hikes to tame “persistent” inflation. The central also indicated two more rate cuts this year, which will bring the Fed funds rate down to 4.4% in 2024.Following the announcement, the markets’ reaction was subdued, and all three major indexes ended in red on Wednesday. On the other hand, ind ...

The latest trading session saw Bank of America (BAC) ending at $39.62, denoting a +0.18% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.29% for the day. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq lost 0.31%.Heading into today, shares of the nation's second-largest bank had gained 2.22% over the past month, lagging the Finance sector's gain of 2.97% and outpacing the S&P 500's gain of 1.57% in that time.The upcoming earnings release of ...