CHARLOTTE, N.C., April 18, 2023 /PRNewswire/ — Bank of America reported its first-quarter 2023 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America’s Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. Investor Conference Call information: Chief Executive Officer Brian Moynihan and Chief Financial Officer Alastair […]

Investing legend Warren Buffett believes there could be more bank failures down the road, but depositors should not ever be worried. “We’re not over bank failures, but depositors haven’t had a crisis,” the Berkshire Hathaway chairman and CEO told CNBC’s Becky Quick on “Squawk Box” Wednesday from Tokyo. “Banks go […]

U.S. stocks were mixed on Monday, as bank stocks moved upward after North Carolina-based First Citizens (FCNCA) bank agreed to buy most of Silicon Valley Bank. At the close, the S&P 500 (^GSPC) edged up 0.2% and the Dow Jones Industrial Average (^DJI) gained 0.6%. The Nasdaq Composite (^IXIC) was […]

U.S. stocks moved higher Tuesday following U.S. and European efforts to stabilize the banking system. The S&P 500 (^GSPC) climbed 1.3%, while the Dow Jones Industrial Average (^DJI) gained nearly 1%. Contracts on the technology-heavy Nasdaq Composite (^IXIC) jumped 1.6%. Bond yields are rising, “potentially indicating less of a recessionary […]

U.S. stocks finished Monday mixed as volatile trading gripped Wall Street after federal banking regulators took aggressive actions to stem the fallout of Silicon Valley Bank’s failure. The S&P 500 (^GSPC) declined 0.1%, while the Dow Jones Industrial Average (^DJI) ticked down 0.3%. Contracts on the technology-heavy Nasdaq Composite (^IXIC) […]

WASHINGTON — Treasury Secretary Janet Yellen sought to reassure markets and lawmakers on Thursday that the federal government is committed to protecting U.S. bank deposits following the failure of Silicon Valley Bank and Signature Bank over the weekend. “Our banking system remains sound and Americans can feel confident that their […]

On Wednesday, Silicon Valley Bank was a well-capitalized institution seeking to raise some funds. Within 48 hours, a panic induced by the very venture capital community that SVB had served and nurtured ended the bank’s 40-year-run. Regulators shuttered SVB Friday and seized its deposits in the largest U.S. banking failure […]

CHARLOTTE, N.C., Jan. 13, 2023 /PRNewswire/ — Bank of America reported its fourth-quarter 2022 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America’s Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. Investor Conference Call information Chief Executive Officer Brian Moynihan and Chief Financial Officer […]