Bank of America Corporation (NYSE:BAC) Q2 2023 Earnings Conference Call July 18, 2023 8:30 AM ET Company Participants Lee McEntire - IR Brian Moynihan - CEO Alastair Borthwick - CFO Conference Call Participants Gerard Cassidy - RBC Glenn Schorr - Evercore Mike Mayo - Wells Fargo Jim Mitchell - Seaport Global Christopher Kotowski - Oppenheimer Betsy Graseck - Morgan Stanley Kenneth Usdin - Jefferies Charles Peabody - Portales Erika Najarian - UBS Operator Good day, everyone, and welcome to the Bank of Americ ...

Summary of Bank of America Corporation Conference Call Company Overview - **Company**: Bank of America Corporation (NYSE:BAC) - **Industry**: U.S. Financial Services - **Key Participants**: Aron Levine (President, Preferred Banking), Holly O'Neill (President, Retail Banking) - **Customer Base**: 66 million customers - **Assets**: Approximately $1.67 trillion - **Deposits**: Approximately $1 trillion - **Loans**: Approximately $30 billion - **Investments**: Approximately $375 billion Core Business Strategies - **Consumer Business Model**: Focus on relationship-driven banking, integrating digital and physical channels to enhance customer experience [3][4][10] - **Preferred Banking**: Represents 90% of assets with 24 million clients, emphasizing high retention rates (99.2%) through the Preferred Rewards program [6][35] - **Retail Banking**: Serves mass market clients with income under $70,000, accounting for 67% of new clients [4][5] Digital and Physical Integration - **Digital Presence**: Bank of America claims to have one of the best digital banking platforms in the U.S., with 84% of households being digitally active [3][4] - **Financial Centers**: Operates 3,800 financial centers, down from 6,100 in 2010, focusing on relationship-building rather than transactional interactions [17][18] - **Self-Service Efficiency**: Significant improvements in efficiency through digital capabilities, encouraging clients to self-serve [15][16] Financial Health of Consumers - **Consumer Deposits**: Clients have approximately 30% more in checking accounts than pre-pandemic levels, averaging around $14,000 [20] - **Spending Trends**: Consumer spending is up 2-3% year-over-year, indicating healthy financial behavior [20] - **Credit Health**: Strong payment behavior with credit statistics remaining robust, showing no significant deterioration [21][22] Deposit and Loan Dynamics - **Deposit Trends**: Consumer deposits down 3% year-on-year, while loans are up 7%, indicating a strategic focus on maintaining a stable deposit base [28][29] - **Deposit Strategy**: Emphasis on transactional checking accounts, with a stable deposit pricing strategy [31][32] Wealth Management - **Wealth Business Growth**: Significant growth in consumer investments, with assets under management increasing from $50 billion to $376 billion [8][38] - **Unique Model**: Integration of financial advisors within financial centers to provide access to clients with less than $250,000 to invest [38] Efficiency Improvements - **Branch Optimization**: Continued reduction in branch count while enhancing service quality through renovations and strategic openings [40] - **AI Utilization**: Implementation of AI tools like Erica to improve client engagement and internal efficiency [45] Employee Banking Program - **Corporate Partnerships**: Over 300 corporate clients engaged in the employee banking program, reaching 3.1 million employees, enhancing client acquisition [48][49] Conclusion - **Overall Performance**: Bank of America is positioned for continued growth with a strong focus on relationship banking, digital integration, and maintaining a healthy consumer base. The company is optimistic about its future performance, expecting to sustain its growth trajectory in checking accounts and client retention [47]

Bank of America Corporation (NYSE:BAC) Bernstein 39th Annual Strategic Decisions Conference June 1, 2023 2:30 PM ET Company Participants Brian Moynihan - Chief Executive Officer Conference Call Participants John McDonald - Bernstein John McDonald Okay, we're ready to go. Thanks, everyone. Appreciate you joining us. We're happy to have Bank of America back again, CEO, Brian Moynihan. Brian thanks for joining us. Brian Moynihan It's good to be here, John. Good to be here. Question-and-Answer Session Q - John ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-6523 Exact name of registrant as specified in its charter: Bank of America Corporation State or other jurisdiction of incorporati ...

Bank of America Corporation (NYSE:BAC) Q1 2023 Earnings Conference Call April 18, 2023 8:30 AM ET Company Participants Lee McEntire - Investor Relations Brian Moynihan - Chief Executive Officer Alastair Borthwick - Chief Financial Officer Conference Call Participants Jim Mitchell - Seaport Global Erika Najarian - UBS Ken Usdin - Jefferies Mike Mayo - Wells Fargo Glenn Schorr - Evercore Steven Chubak - Wolfe Research Matt O'Connor - Deutsche Bank Vivek Juneja - J.P. Morgan Gerard Cassidy - RBC Betsy Graseck ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-6523 Exact name of registrant as specified in its charter: Bank of America Corporation State or other jurisdiction of incorporation or ...

Bank of America Corporation (NYSE:BAC) 2023 BofA Securities Financial Services Conference February 14, 2023 8:00 AM ET Company Participants Brian Moynihan - Chairman and Chief Executive Officer Conference Call Participants Ebrahim Poonawala - BofA Global Research Ebrahim Poonawala Good morning. I’m Ebrahim Poonawala, Head of North America Bank’s Research of Bank of America. On behalf of my colleagues in research, Craig Siegenthaler, Josh Shanker, [Meer] (PH) Bhatia, Brandon Berman. I would like to welcome y ...