- Bank of America is climbing after an earnings topped expectations.
- The US’s third-largest bank by assets said it paid an effective tax rate of 9%.
- Deposits rose 3%, hitting a record $ 1.3 trillion in the bank’s consumer banking division.
- Follow Bank of America’s stock price in real-time here.
Shares of Bank of America were up roughly 1% in early trading Monday after the firm reported earnings that beat analysts expectations, continuing a trend of stellar financial earnings in the first quarter.
The Charlotte-based bank said it earned an adjusted $ 0.62 per share on revenue of $ 23.2 billion in the first quarter. Analysts polled by Bloomberg had expected earnings of $ 0.59 and revenue of $ 23 billion.See the rest of the story at Business Insider
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SEE ALSO: Bank of America beats, delivers a record quarter
