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BANK OF AMERICA reported net income of $6.92 billion for the first quarter. / BLOOMBERG FILE PHOTO/RON ANTONELLI

Bank of America’s cost-cutting drive pushes profit to record

NEW YORK - Bank of America Corp. hit a new milestone in its years-long effort to get costs under control. First-quarter expenses totaled about 60 percent...
BANK OF AMERICA posted a $2.37 billion net income for the fourth quarter. / BLOOMBERG FILE PHOTO/DAVIS TURNER

BofA has ways to go to hit $53B cost target this...

NEW YORK - Bank of America Corp. once excited investors by pledging steep cost cuts by the end of this year. It still has a...
BANK OF AMERICA CORP. reported third-quarter net income of $5.59 billion. / BLOOMBERG FILE PHOTO/RON ANTONELLI

BofA profit best in six years as rising rates lift revenue

NEW YORK - Brian Moynihan’s efforts to boost Bank of America Corp. profit through cost cutting finally got some help from interest rates. The lender...
BANK OF AMERICA CORP. posted a second quarter decline in interest income despite speculation that the bank would heavily profit from rising federal interest rates. / BLOOMBERG FILE PHOTO/RON ANTONELLI

BofA’s interest income declines even after Fed rate hikes

NEW YORK - Bank of America Corp.’s expected bonanza from rising interest rates has stalled. The lender, viewed as the most sensitive to rate changes...
BERKSHIRE HATHAWAY INC. announced that it will convert its preferred stock into common shares. As it stands, Berkshire Hathaway would then become Bank of America's largest shareholder. /BLOOMBERG FILE PHOTO/DAVIS TURNER

Buffett about to reap $12 billion profit on Bank of America...

NEW YORK - Warren Buffett’s bet on Bank of America Corp. is about to pay off with a roughly $12 billion windfall. The billionaire plans...

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