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> return about 1% of assets on deposit So? Investors don't have to lower-bound value bank stock at its deposits. (God I hate google and its insistence on corp

> return about 1% of assets on deposit So? Investors don't have to lower-bound value bank stock at its deposits. (God I hate google and its insistence on corporate search results, I search for "how much money does bank of america have on deposit" and all the results are about making deposits on bankofamerica.com) Bank of America has $1.9t in deposits, but its equity value is $285b. So a 1% return on deposits = 6.66% return for investors (excluding other costs and other revenue (account fees?))

brookst 4y ago
Side note re: search, Bing Chat answers your question (cut and paste from your quote): Bank of America has different types of deposits, such as interest-bearing deposits, non-interest-bearing deposits, and mobile deposits. According to the annual Summary of Deposits from the FDIC, Bank of America had $1.36 trillion in total deposits as of June 2019(1), making it the largest US bank by deposits. However, this number may have changed since then. The Bank of America mobile check deposit limit is $10,000 per month for accounts opened for three months or longer, and $2,500 per month for accounts opened for fewer than three months(2). Learn more: 1. retailbankerinternational.com 2. gobankingrates.com
- function_seven 4y ago
  What a strange mix of corporate financials and retail product specs. The first sentence implies that “mobile deposits” are of a kind with interest- and non-interest bearing deposits. The last sentence talk about the process of making a deposit into your own account. The middle two sentences actually answer the question regarding the total volume of deposits across the bank. Verdict: Still useful! Non sequitor-ish, but better than SEO spam :)
  - jrumbut 4y ago
    Or is it? The Bing answer is about $600 billion less than the human generated answers. One of them is wrong (or at least outdated), I don't know enough about BoA to know which though.
    - brookst 4y ago
      Indeed. Or, as Bing notes, is the definition different? There is a sourcing link (my cut paste of the HTML did not get the full URL, unfortunately)
robocat 4y ago
Aside: I would expect equity value of a bank to be predominantly dependent on returns, since many banks don’t have a lot of assets (except perhaps investment assets that produce returns and the assets themselves are valued on their returns).
- Scoundreller 4y ago
  > equity value of a bank to be predominantly dependent on returns bingo. Though you have to worry about leverage (ie: risk). Really sucks when a small change results in catastrophic losses (though everyone loves it on the way up).
jonas21 4y ago
That's odd. When I type your query into Google, I get a table at the top with: Rank Name Total Deposits 2 Bank of America $1,906,458,000 3 Wells Fargo Bank $1,479,499,000 4 Citibank $1,282,071,000 And a link to https://www.mx.com/blog/biggest-us-banks-by-deposits/ https://www.mx.com/blog/biggest-us-banks-by-deposits/ I get the same result whether I'm in incognito mode or not. Are you perhaps running an adblocker that's removing this?
- Scoundreller 4y ago
  Adblocker, yes, but it wouldn’t block that. I’m not in USA though.
- ask_b123 4y ago
  typing the same query I get a full page of bankofamerica.com results, even after disabling the blocker.

brookst 4y ago

Side note re: search, Bing Chat answers your question (cut and paste from your quote): Bank of America has different types of deposits, such as interest-bearing deposits, non-interest-bearing deposits, and mobile deposits. According to the annual Summary of Deposits from the FDIC, Bank of America had $1.36 trillion in total deposits as of June 2019(1), making it the largest US bank by deposits. However, this number may have changed since then. The Bank of America mobile check deposit limit is $10,000 per month for accounts opened for three months or longer, and $2,500 per month for accounts opened for fewer than three months(2). Learn more: 1. retailbankerinternational.com 2. gobankingrates.com

function_seven 4y ago
What a strange mix of corporate financials and retail product specs. The first sentence implies that “mobile deposits” are of a kind with interest- and non-interest bearing deposits. The last sentence talk about the process of making a deposit into your own account. The middle two sentences actually answer the question regarding the total volume of deposits across the bank. Verdict: Still useful! Non sequitor-ish, but better than SEO spam :)
- jrumbut 4y ago
  Or is it? The Bing answer is about $600 billion less than the human generated answers. One of them is wrong (or at least outdated), I don't know enough about BoA to know which though.
  - brookst 4y ago
    Indeed. Or, as Bing notes, is the definition different? There is a sourcing link (my cut paste of the HTML did not get the full URL, unfortunately)

robocat 4y ago

Aside: I would expect equity value of a bank to be predominantly dependent on returns, since many banks don’t have a lot of assets (except perhaps investment assets that produce returns and the assets themselves are valued on their returns).

Scoundreller 4y ago
> equity value of a bank to be predominantly dependent on returns bingo. Though you have to worry about leverage (ie: risk). Really sucks when a small change results in catastrophic losses (though everyone loves it on the way up).

jonas21 4y ago

That's odd. When I type your query into Google, I get a table at the top with: Rank Name Total Deposits 2 Bank of America $1,906,458,000 3 Wells Fargo Bank $1,479,499,000 4 Citibank $1,282,071,000 And a link to https://www.mx.com/blog/biggest-us-banks-by-deposits/ https://www.mx.com/blog/biggest-us-banks-by-deposits/ I get the same result whether I'm in incognito mode or not. Are you perhaps running an adblocker that's removing this?

Scoundreller 4y ago
Adblocker, yes, but it wouldn’t block that. I’m not in USA though.
ask_b123 4y ago
typing the same query I get a full page of bankofamerica.com results, even after disabling the blocker.