Bank Of America Bets On Brick-And-Mortar, Expansion Plans Include 60 Markets Worldwide

Author: Lekha Gupta | May 13, 2025 10:30am

Bank of America Corporation (NYSE:BAC) shares are trading higher Tuesday after the firm disclosed plans to open over 150 new locations across 60 markets by the end of 2027.

The bank expects 40 locations to open this year and another 70 in 2026. Four financial centers are slated for Boise, Idaho, with the first location scheduled to open in nearby Nampa on June 9, 2025.

Recently, the company inaugurated a new flagship financial center at 2 Bryant Park in New York City, which is designed to facilitate connections between clients and financial specialists, among others.

Also Read: Bank Of America Analysts Cut Price Target Amid Macro Uncertainty, But Maintain Positive Outlook

Since 2016, the Charlotte, North Carolina-based bank has invested more than $5 billion in its financial center network through new openings and renovations of existing locations.

In April, Bank of America disclosed that it is ramping up its investment in artificial intelligence, planning to spend $4 billion on AI initiatives over the next year, nearly a third of its annual $13 billion tech budget.

Also, in the same month, it reported first-quarter fiscal 2025 net income of $7.4 billion (versus $6.7 billion a year ago) and EPS of $0.90, beating the analyst consensus estimate of $0.81.

Investors can gain exposure to the stock via Invesco KBW Bank ETF (NASDAQ:KBWB) and First Trust Nasdaq Bank ETF (NASDAQ:FTXO).

Price Action: Bank of America shares are up 1.74% at $44.12 at the last check on Tuesday.

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Posted In: BAC FTXO KBWB