BankRankedBank of America, National Association
ROA: StrongCharlotte, NC | Charter: N | Holding Company: BANK OF AMERICA CORP
Established: 1904-10-17
Total Assets
$2.64T
Total Deposits
$2.10T
Net Income
$30.38B
Branches
3,610
FDIC data last updated: April 2, 2026
Overview
Bank of America is one of the largest banks in the United States, headquartered in Charlotte, NC. With $2.64T in total assets, Bank of America holds a notable position in the U.S. banking landscape (Source: FDIC BankFind). The institution operates under a N charter. It is part of the BANK OF AMERICA CORP holding company.
Bank of America holds approximately $2.10T in total deposits (Source: FDIC BankFind). The bank operates 3,610 branches, providing broad access for customers who prefer in-person banking. Established 1904-10-17, the institution has a track record in the banking industry.
This profile uses publicly available government data to present a factual overview. It does not constitute an endorsement or recommendation of this institution. Consumers may wish to consider factors such as account fees, digital banking features, and customer service when evaluating any bank.
Financial Health Analysis
Return on Assets (ROA)
1.15%
National avg: 1.21%
Return on Equity (ROE)
12.24%
National avg: 11.47%
FDIC Insured
Yes
Up to $250,000 per depositor
Bank of America reports a Return on Assets (ROA) of 1.15%, which is below the national average of 1.21%, which may indicate lower profitability relative to assets (Source: FDIC BankFind). In practical terms, an ROA of 1.15% means that for every $100 in assets, the bank generates approximately $1.15 in profit.
The bank's Return on Equity (ROE) is 12.24%, which is near or above the national average of 11.47%, suggesting adequate returns for shareholders (Source: FDIC BankFind). ROE measures how effectively a bank uses shareholder equity to generate profit.
Bank of America reported positive net income of $30.38B in the most recent reporting period (Source: FDIC BankFind). Net income reflects overall profitability after all expenses, taxes, and provisions.
Past financial performance does not guarantee future stability or profitability. These metrics reflect a single reporting period and may vary from quarter to quarter. Consult a licensed financial professional before making banking decisions based on financial data.
Bank of America vs. national average
National averages calculated from all active FDIC-insured banks.
Customer Experience
Total Complaints
174,897
Timely Response Rate
97.5%
Complaint Breakdown by Category
Source: CFPB Consumer Complaint Database
Bank of America received approximately 83.2 complaints per $1B in deposits, which is near the estimated national average of approximately 93.2 per $1B (Source: CFPB Consumer Complaint Database, FDIC BankFind). Complaint volume alone does not indicate service quality. Larger banks naturally receive more complaints due to higher customer counts.
97.5% of complaints received a timely response, which is below the industry average of approximately 99% (Source: CFPB Consumer Complaint Database). A higher timely response rate generally suggests the institution addresses consumer concerns within expected timeframes.
The most common complaint categories for Bank of America are: Loan modification,collection,foreclosure, Managing an account, Incorrect information on your report (Source: CFPB Consumer Complaint Database). These categories are common across most large financial institutions and may reflect the breadth of products offered rather than specific service failures.
The CFPB recommends comparing fees, interest rates, and access across multiple institutions before opening an account. Complaint data provides one perspective on consumer experience but does not capture the full picture of a bank's service quality.
Branch and Access
Bank of America operates 3,610 branches, providing a nationwide presence that may appeal to customers who prefer in-person banking (Source: FDIC BankFind). A large branch network generally offers convenience for deposits, withdrawals, and face-to-face consultations, though digital banking tools may reduce the need for branch visits.
The bank is headquartered in Charlotte, NC. Consumers considering this institution may want to verify branch locations near their home or workplace, as headquarter location does not always indicate where branches are concentrated.
Branch access is one factor in choosing a bank. Consumers who primarily use mobile and online banking may prioritize digital features and rates over physical branch proximity.
View banks in NCHow Bank of America compares to similar-sized banks
| Bank | Assets |
|---|---|
| Bank of America | $2.64T |
| JPMorgan Chase Bank | $3.75T |
| Citibank | $1.84T |
| Wells Fargo Bank | $1.82T |
Compare Bank of America
Data Sources
FDIC BankFind: Financial data including total assets, deposits, net income, ROA, and ROE for all FDIC-insured institutions. https://banks.data.fdic.gov/
CFPB Consumer Complaint Database: Consumer complaint data by institution, including complaint volumes, response rates, and top issue categories. https://www.consumerfinance.gov/data-research/consumer-complaints/
Federal Reserve Economic Data (FRED): Interest rate benchmarks including the Federal Funds Rate, Treasury yields, and national savings rate averages. https://fred.stlouisfed.org/
BankRanked is not a bank, credit union, or financial advisor. This content is for educational purposes only and does not constitute financial advice. All data is sourced from publicly available government databases (FDIC, NCUA, CFPB, FRED). Consult a licensed financial professional before making banking decisions.