Bank Transfer Day: Bank of America Deposit Balances to Come Later
Those wondering if Bank of America experienced any significant account closures on Saturday will have to wait until the bank releases its next financial report.
“We only report account information on deposit balances on a quarterly basis as part of our overall financial results,” Bank of America spokeswoman Christina Beyer Toth told Credit Union Times.
Toth said fourth quarter 2011 data will be available in early 2012.
On Oct. 18, the bank reported its total average deposit balances of $1.05 trillion were up $77 billion, or 8% from the year-ago period, and $15 billion,
or 1% higher than the second quarter of 2011.
The Charlotte,N.C.-based Bank of America said the number of net new consumer and small business checking accounts was positive for the third consecutive quarter as the company “continued to focus on the retention of profitable customer relationships.”
After public outcry, Bank of America said Nov.1 that it would not implement the fee. Still, thousands of people signed on to Bank Transfer Day’s suggestion to switch their accounts to credit unions and community banks.