Bank of America Corp posted a better-than-expected first-quarter earnings on Thursday as the No. 2 U.S. bank set aside less money for loan losses and capital markets activity rebounded.
Here's Bank of America's press release for the Q1 results. One interesting thing to note is that BofA reported an increase in deposits:
Average deposit balances were up $7 billion from the first quarter of 2011 to $1.03 trillion.
Growing deposits isn't good news for deposit rates. However, deposit growth appeared to have slowed based on the 2011 Q4 results