Bank of America Corporation appointed Dean C. Athanasia and James P. DeMare as Co-Presidents, effective September 12, 2025. Athanasia has held various leadership roles within the company since 2011, while DeMare has been with the company since 2020. Alastair M. Borthwick continues as Executive Vice President alongside his role as Chief Financial Officer, having served in this capacity since November 2021.
These appointments reflect a strategic leadership change within the corporation, with both Athanasia and DeMare bringing extensive experience from their previous positions. Details about their compensation and any related agreements can be found in the corporation’s 2025 Proxy Statement, filed on March 10, 2025.
linkSep 15, 2025 16:56:10
Bank of America has appointed Dean C. Athanasia and James P. DeMare as Co-Presidents, effective September 12, 2025. They will oversee the company's eight lines of business and focus on long-term growth and returns. Alastair M. Borthwick has been named Executive Vice President and Chief Financial Officer, continuing his role in financial stewardship and strategic advisory. The leadership changes aim to enhance the company's capabilities and drive initiatives for market share and operational excellence.
These appointments come as part of Bank of America's ongoing commitment to Responsible Growth, which has been a focus for over a decade. The company serves approximately 69 million consumer and small business clients through a wide range of banking and financial services, and it operates in over 35 countries. The leadership team remains unchanged aside from these new roles, ensuring continuity while aiming to strengthen the company's position in the financial market.
linkSep 12, 2025 17:18:07
On July 24, 2025, Bank of America Corporation issued 100,000 shares of Series UU Preferred Stock, which has specific restrictions on dividend declarations and stock repurchases if full dividends are not paid. The preferred stock has a liquidation preference of $25,000 per share and is governed by a Certificate of Designations filed with the Secretary of State of Delaware.
Additionally, the Corporation sold 2,500,000 Depositary Shares, each representing a 1/25th interest in a share of the Series UU Preferred Stock. The terms of this offering are outlined in the Corporation’s Prospectus dated March 28, 2024, and further supplemented by a Prospectus Supplement dated July 21, 2025.
linkJul 24, 2025 16:30:23
Bank of America Corporation's Board of Directors has authorized a new $40 billion common stock repurchase program effective August 1, 2025, to replace the existing program set to expire on the same date. As of June 30, 2025, approximately $9.1 billion remained under the current repurchase program. This decision reflects the company's commitment to return excess capital to shareholders while maintaining regulatory capital levels above minimum requirements.
Additionally, the Board declared a regular quarterly cash dividend of $0.28 per share on common stock, an increase of $0.02 from the previous quarter. This dividend is payable on September 26, 2025, to shareholders of record as of September 5, 2025. The Board also announced a quarterly cash dividend of $1.75 per share on the 7% Cumulative Redeemable Preferred Stock, Series B, payable on October 24, 2025, to shareholders of record as of October 10, 2025.
linkJul 23, 2025 16:56:47
Bank of America Corporation reported a net income of $7.1 billion for the second quarter of 2025, translating to $0.89 per diluted share. This marks an increase from $6.9 billion, or $0.83 per diluted share, in the same quarter last year. The company's total revenue for the quarter was $26.5 billion, up 4% year-over-year, driven by higher net interest income, sales and trading revenue, and asset management fees. The average deposits increased to $1.97 trillion, reflecting consistent growth over the past eight quarters, while average loans and leases rose to $1.13 trillion, up 7% across all business segments. The Common Equity Tier 1 (CET1) capital ratio stood at 11.5%, well above regulatory requirements, and the company returned $7.3 billion to shareholders during the quarter through dividends and share repurchases.
In the Consumer Banking segment, net income was reported at $3.0 billion with revenues of $10.8 billion, up 6% from the previous year, largely due to increased net interest income. Global Wealth and Investment Management saw a net income of $1.0 billion, with revenues rising by 7% to $5.9 billion, driven by strong asset management fees. The Global Markets segment reported net income of $1.5 billion, reflecting a 14% increase in sales and trading revenue. Overall, Bank of America demonstrated solid performance across its business segments, with continued investment in technology and personnel contributing to its growth.
linkJul 16, 2025 06:46:12
Bank of America announced plans to raise its quarterly common stock dividend by 8% to $0.28 per share, effective in the third quarter of 2025. This decision follows the results of the Federal Reserve's 2025 Comprehensive Capital Analysis and Review, which showed an improvement in the bank's capital depletion metrics. The bank's preliminary stress capital buffer would increase to 2.5%, and its CET1 minimum requirement would be 10.0% starting October 1, 2025, with potential further changes anticipated in January 2026 based on proposed Federal Reserve modifications.
As of March 31, 2025, Bank of America reported $201 billion in regulatory CET1 capital, resulting in a CET1 ratio of 11.8%, which is above the current minimum requirement. The planned dividend increase is subject to approval by the bank's Board of Directors. Bank of America continues to serve a wide range of clients, including individual consumers and large corporations, through its extensive network of retail centers and digital banking services.
linkJul 01, 2025 16:47:43