Bank of America Files 8-K on Preferred Stock Details

TL;DR

BAC filed an 8-K detailing preferred stock terms, no new money mentioned.

AI Summary

On February 7, 2025, Bank of America Corp. (BAC) filed an 8-K report detailing various preferred stock issuances and their associated terms. These include Series E, G, H, L, 1, 2, 4, and 5 Preferred Stock, as well as Floating Rate Preferred Hybrid Income Term Securities and A5.63 Fixed-to-Floating Rate Preferred Stock. The filing does not disclose specific dollar amounts for these issuances but confirms their existence and terms as of the filing date.

Why It Matters

This filing provides transparency into Bank of America's capital structure and the specific terms of its various preferred stock offerings, which can impact investors and the company's financial leverage.

Risk Assessment

Risk Level: low — The filing is informational, detailing existing or newly defined preferred stock terms without indicating significant new financial commitments or risks.

Key Players & Entities

• BANK OF AMERICA CORP /DE/ (company) — Filer
• 0000070858 (company) — Central Index Key
• 20250207 (date) — Filing Date
• Series E Preferred Stock (company) — Preferred Stock Type
• Series GG Preferred Stock (company) — Preferred Stock Type
• Series HH Preferred Stock (company) — Preferred Stock Type
• Series L Preferred Stock (company) — Preferred Stock Type
• Series 1 Preferred Stock (company) — Preferred Stock Type
• Series 2 Preferred Stock (company) — Preferred Stock Type
• Series 4 Preferred Stock (company) — Preferred Stock Type

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share BAC New York Stock Exchange
• $35,000,000 — Executive Officer Brian T. Moynihan of $35,000,000, compared to 2023 total compensation of
• $29,000,000 — compared to 2023 total compensation of $29,000,000. In determining this compensation, th
• $27.1 billion — ynihan's leadership. The Company earned $27.1 billion in net income and saw its share price i
• $70 billion — mpany's market capitalization by nearly $70 billion from December 31, 2023, to December 31,
• $102 b — venue growth of 3% from 2023, to nearly $102 billion, and expense discipline, with exp
• $296 billion — source of strength, with approximately $296 billion in shareholders' equity and average liq
• $953 billion — equity and average liquidity levels of $953 billion for the fourth quarter of 2024. Book va
• $21 billion — nce sheet allowed the Company to return $21 billion to shareholders in 2024, through divide
• $42 billion — edit, capital and liquidity. This drove $42 billion in loan growth to more than $1.095 tril
• $1.095 — $42 billion in loan growth to more than $1.095 trillion at year-end. In Consumer and W
• $6.0 — Wealth Management, the Company managed $6.0 trillion in balances across loans, depo
• $66 billion — In total the Company had approximately $66 billion in net wealth flows in 2024. In 2024 th
• $24 — ourly rate of pay for U.S. teammates to $24/hour continuing its commitment to incre
• $25 — its commitment to increase that rate to $25/hour by 2025. Additionally, the Company

Filing Documents

• bac-20250207.htm (8-K) — 68KB
• 0000070858-25-000087.txt ( ) — 352KB
• bac-20250207.xsd (EX-101.SCH) — 6KB
• bac-20250207_def.xml (EX-101.DEF) — 23KB
• bac-20250207_lab.xml (EX-101.LAB) — 50KB
• bac-20250207_pre.xml (EX-101.PRE) — 25KB
• bac-20250207_htm.xml (XML) — 18KB

01. Other Events

ITEM 8.01. Other Events. Bank of America Corporation ("Bank of America" or the "Company") today announced that its Board of Directors (the "Board") approved 2024 total compensation for Chair and Chief Executive Officer Brian T. Moynihan of $35,000,000, compared to 2023 total compensation of $29,000,000. In determining this compensation, the independent members of the Board acknowledged the Company's continued success delivering Responsible Growth in 2024 and Mr. Moynihan's leadership. The Company earned $27.1 billion in net income and saw its share price improve 30% during the year. The Company's 2024 performance was an important foundational year characterized by strong organic growth across all businesses, including a mid-year inflection and return to growth in net interest income complementing strong fee businesses growth. Credit costs stabilized helping the Company to produce strong earnings and return more capital to shareholders than in 2023. Organic loan and deposit growth outpaced industry averages. The increase in the Company's common stock price grew the Company's market capitalization by nearly $70 billion from December 31, 2023, to December 31, 2024. Shareholders. The Company's 2024 net income of $27.1 billion grew 2% from 2023. These results were aided by revenue growth of 3% from 2023, to nearly $102 billion, and expense discipline, with expense growth of 1% from 2023. That growth included an increase in investments for the future of the franchise as the Company expanded its retail footprint into new areas of the U.S., increased new initiative spending for technology and hired more bankers and advisors in the Global Banking and Wealth Management businesses. The Company's balance sheet remained a source of strength, with approximately $296 billion in shareholders' equity and average liquidity levels of $953 billion for the fourth quarter of 2024. Book value per share improved 7% during 2024. The strength of the balance sheet allowed the Company to

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BANK OF AMERICA CORPORATION By: /s/ Ross E. Jeffries, Jr. Ross E. Jeffries, Jr. Deputy General Counsel and Corporate Secretary Dated: February 7, 2025

View Full Filing

View this 8-K filing on SEC EDGAR