On January 12, 2024, Bank of America Corporation filed a Form 8-K report with the SEC, announcing its financial results for the fourth quarter and full year ended December 31, 2023. The bank reported a fourth-quarter net income of $3.1 billion, or $0.35 per diluted share, and a net income for the year of $26.5 billion, or $3.08 per diluted share. The report included detailed financial data, such as common stock and depositary shares registered on the New York Stock Exchange, and a range of preferred stocks. The bank also disclosed a special FDIC assessment of $2.1 billion and a BSBY cessation charge of $1.6 billion, which impacted the reported net income and EPS. Adjusted for these items, the fourth-quarter adjusted net income was $5.9 billion, or $0.70 per diluted...Show More

On January 12, 2024, Bank of America Corporation filed a Form 8-K report with the SEC, announcing its financial results for the fourth quarter and full year ended December 31, 2023. The bank reported a fourth-quarter net income of $3.1 billion, or $0.35 per diluted share, and a net income for the year of $26.5 billion, or $3.08 per diluted share. The report included detailed financial data, such as common stock and depositary shares registered on the New York Stock Exchange, and a range of preferred stocks. The bank also disclosed a special FDIC assessment of $2.1 billion and a BSBY cessation charge of $1.6 billion, which impacted the reported net income and EPS. Adjusted for these items, the fourth-quarter adjusted net income was $5.9 billion, or $0.70 per diluted share, and the full-year adjusted net income was $29.3 billion, or $3.42 per diluted share. The bank's CEO, Brian Moynihan, highlighted the strong organic growth across all businesses, with record client activity and digital engagement. The bank's CFO, Alastair Borthwick, emphasized robust client activity and the bank's strong capital position, which allowed for $12 billion to be returned to shareholders in 2023. The bank also provided information on its credit quality, balance sheet, liquidity, and capital highlights, along with a conference call invitation for further discussion of the financial results.