This statistic illustrates the share of people who primarily use an account at Bank of America in the United States in 2024. The results were sorted by age. As of March 2024, 21 percent of respondents aged 18 to 29 years stated their main bank account is at Bank of America. The survey was conducted in 2024, among 10,062 respondents. Access millions of exclusive survey results with Statista Consumer Insights.

Between 2013 and 2024, the number of mobile banking customers of Bank of America more than doubled. In 2024, the bank's mobile active customer base was just below 40 million, up from 37.9 million a year earlier. Among the largest U.S. banks, Bank of America had the second-highest number of mobile customers in 2024.

Among the four largest banks headquartered in the United States, JPMorgan Chase had the highest number of active mobile customers in 2024. Over ** million JPMorgan Chase customers were active mobile banking users. Bank of America had the second-highest number of active mobile customers, which was roughly ** million.

JPMorgan Chase Bank reported the highest value of domestic deposits in the United States as of March 31, 2024. The value of total domestic deposits of JPMorgan Chase exceeded two trillion U.S. dollars. Bank of America reported the second-highest domestic deposits, with a value of around 1.93 trillion U.S. dollars.

Bank Of America reported 213K in Employees for its fiscal year ending in December of 2024. Data for Bank Of America | BAC - Employees Total Number including historical, tables and charts were last updated by Trading Economics this last July in 2025.

The latest closing stock price for Bank Of America as of May 27, 2025 is 44.22. An investor who bought $1,000 worth of Bank Of America stock at the IPO in 1984 would have $30,631 today, roughly 31 times their original investment - a 8.79% compound annual growth rate over 41 years. The all-time high Bank Of America stock closing price was 47.44 on February 06, 2025. The Bank Of America 52-week high stock price is 48.08, which is 8.7% above the current share price. The Bank Of America 52-week low stock price is 33.06, which is 25.2% below the current share price. The average Bank Of America stock price for the last 52 weeks is 42.15. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide.

The US retail banking market, a sector characterized by intense competition and evolving customer expectations, is projected to experience steady growth. While the provided data lacks specific market size figures, a reasonable estimation can be made. Given a CAGR of 4% and a base year of 2025, we can infer substantial market value. The growth is driven by factors such as increasing digital adoption among consumers, the rise of fintech innovation pushing traditional banks to adapt, and the persistent demand for personalized financial products and services. This necessitates banks to invest heavily in technology, enhance customer experience through seamless digital platforms, and expand their product offerings to remain competitive. Furthermore, regulatory changes and evolving consumer financial behaviors contribute to market dynamism. Despite robust growth projections, the market faces challenges. These include increasing operational costs, stringent regulatory compliance requirements, and the potential for economic downturns to impact consumer spending and loan demand. The competitive landscape, with established giants like JPMorgan Chase & Co., Bank of America Corp., and Wells Fargo & Co. alongside emerging fintech players, necessitates strategic adaptation and innovation to maintain market share. Successful players will be those who can successfully balance profitability with customer-centric strategies, effectively leveraging technology to improve efficiency and enhance customer experience, while adhering to evolving regulatory frameworks. Segmentation within the market will continue to be vital, with specialized offerings targeting demographics and individual needs. Recent developments include: In May 2021, HSBC announced that it is exiting the retail and small business banking market in the United States, in line with its strategy to refocus on corporate and investment banking in Asia., In November 2020, Wells Fargo announced a new solution to help business customers eliminate paper checks by using one-time virtual card numbers to digitally pay invoices through the WellsOne Virtual Card Payments service.. Key drivers for this market are: Next generation technologies, Optimized physical distribution: Analytics and workforce fluidity; Developing an omnichannel workforce. Potential restraints include: Next generation technologies, Optimized physical distribution: Analytics and workforce fluidity; Developing an omnichannel workforce. Notable trends are: The Spending by Retail Banks for digital banking is increasing in US..

Brazil Bank of America Merrill Lynch: Prudential: Liabilities: Funding: Total Deposits: Prepaid Payment Accounts data was reported at 0.000 BRL th in Jun 2020. Brazil Bank of America Merrill Lynch: Prudential: Liabilities: Funding: Total Deposits: Prepaid Payment Accounts data is updated quarterly, averaging 0.000 BRL th from Jun 2020 (Median) to Jun 2020, with 1 observations. Brazil Bank of America Merrill Lynch: Prudential: Liabilities: Funding: Total Deposits: Prepaid Payment Accounts data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Banking Sector – Table BR.KBC053: Commercial Banks: Assets and Liabilities: Bank of America Merril Lynch.

Bank Of America reported $372.83B in Market Capitalization this July of 2025, considering the latest stock price and the number of outstanding shares.Data for Bank Of America | BAC - Market Capitalization including historical, tables and charts were last updated by Trading Economics this last July in 2025.

Thailand BAC: Assets: Customers' Liabilities under Acceptances data was reported at 0.000 THB th in Sep 2018. This stayed constant from the previous number of 0.000 THB th for Aug 2018. Thailand BAC: Assets: Customers' Liabilities under Acceptances data is updated monthly, averaging 0.000 THB th from Jan 2011 (Median) to Sep 2018, with 93 observations. Thailand BAC: Assets: Customers' Liabilities under Acceptances data remains active status in CEIC and is reported by Bank of Thailand. The data is categorized under Global Database’s Thailand – Table TH.KB058: Balance Sheet: Foreign Bank: Bank of America.

Graph and download economic data for Number of Bank Branches for United States from 2004 to 2019 about banks, depository institutions, and USA.

From 2012 to 2024, the total number of complaints lodged by Bank of America customers increased more than threefold. In the first quarter of 2012, the American banking giant received approximately 4,500 consumer complaints, which surged to around 13,700 by the third quarter of 2024. This significant rise in complaints can be attributed to several factors, including an increase in customer awareness of their rights, the growing complexity of banking products and services, and heightened scrutiny of financial institutions in the wake of economic changes.

Bank Of America reported $295.58B in Equity Capital and Reserves for its fiscal quarter ending in March of 2025. Data for Bank Of America | BAC - Equity Capital And Reserves including historical, tables and charts were last updated by Trading Economics this last July in 2025.

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Community Banking Market Size 2025-2029

The community banking market size is forecast to increase by USD 253 billion at a CAGR of 5.8% between 2024 and 2029.

The market is experiencing significant shifts driven by the increasing adoption of microlending in developing nations and the rising preference for digital platforms. The microlending, a segment of community banking, is gaining traction in developing economies due to its ability to provide small loans to individuals and small businesses who lack access to traditional banking services. This trend is expected to continue, fueled by the growing financial inclusion efforts and increasing economic activity in these regions. Simultaneously, the community banking sector is witnessing a surge in the adoption of digital platforms.
The digital community banking services, such as mobile banking and online lending, are becoming increasingly popular due to their convenience and accessibility. This trend is particularly noticeable among younger demographics, who are more likely to use digital channels for banking. However, the market also faces challenges. One of the most significant obstacles is the lack of awareness about community banking services. Many potential customers, particularly in rural and underserved areas, are unaware of the benefits and availability of community banking services. Addressing this challenge will require targeted marketing efforts and community outreach programs.

What will be the Size of the Community Banking Market during the forecast period?

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The market continues to evolve, with advanced technology playing a pivotal role in shaping the landscape. Financial institutions, both large and small, are integrating microfinance, mobile banking, and remote deposit capture to cater to diverse customer needs. In the micropolitan areas, community banks have gained prominence, offering personalized services to rural and agricultural sectors. The economic recession led to a surge in digital adoption, with mobile banking becoming increasingly popular. However, the competition remains fierce, with big banks also investing heavily in technology to retain their customer base. The ongoing market dynamics underscore the need for continuous innovation and adaptation to stay competitive.
Community banks, with their focus on local markets and relationships, are well-positioned to leverage these trends and offer competitive rates and fees to attract and retain customers. The integration of advanced technology enables seamless transactions and enhanced customer experience, further bolstering their position in the market. The future of community banking lies in its ability to balance tradition and innovation, offering personalized services while embracing digital transformation.

How is this Community Banking Industry segmented?

The community banking industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Area

  Metropolitan
  Rural and micropolitan


Sector

  Small business
  CRE
  Agriculture


Service Type

  Retail banking
  Commercial banking
  Wealth management and financial advisory
  Others


Delivery Model

  Branch Banking
  Online Banking
  Mobile Banking


Institution Type

  Credit Unions
  Local Banks


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    UK


  Middle East and Africa

    UAE


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Area Insights

The metropolitan segment is estimated to witness significant growth during the forecast period.

In the dynamic world of financial services, community banks in the US continue to gain traction among consumers, particularly in rural and micropolitan areas where Big Banks may have a limited presence. While Big Banks dominate the market with their vast resources and broad reach, Community FIs cater to the unique needs of their local clientele. With the rise of advanced technology, Community banks have embraced digital banking solutions, including Internet banking, mobile banking, and remote deposit capture. Small businesses and agricultural sectors, integral to rural economies, benefit significantly from Community banks' personalized services and expertise. Despite the economic recession, these institutions have managed to maintain deposits through their strong relationships with customers.

Microlending, a niche offering, further distinguishes Community banks from their larger counterparts. Rates and fees remain crucial factors for customers, especially in a competitive market. Community banks often offer more competitive rates and lower fees compared to Big Banks, maki

Graph and download economic data for Large Bank Consumer Credit Card Originations: Number of New Accounts (RCCCONUMACT) from Q3 2012 to Q4 2024 about accounts, FR Y-14M, origination, consumer credit, credit cards, large, new, loans, consumer, banks, depository institutions, and USA.

Forecast: Number of Commercial Bank Branches in North America 2022 - 2026 Discover more data with ReportLinker!

The global netbanking market, valued at $10.27 billion in 2025, is poised for substantial growth. While the provided CAGR (Compound Annual Growth Rate) is missing, a conservative estimate, considering the increasing digital adoption and the expansion of online banking services globally, would place it between 8% and 12% for the forecast period (2025-2033). This growth is driven by several factors. The increasing penetration of smartphones and internet access, particularly in developing economies, is fueling the adoption of netbanking for both personal and corporate transactions. Furthermore, the ongoing technological advancements, including enhanced security features and user-friendly interfaces, are making netbanking more accessible and appealing to a broader demographic. The market is segmented by type (Informational, Communicative, Transactional) and application (Personal Banking, Corporate Banking), allowing for targeted solutions and specialized services. The competitive landscape includes major players like Bank of America, Citigroup, HSBC, and several prominent international banks. Each bank's strategic focus on digital transformation and customer experience significantly impacts its market share. Regional variations are also expected, with North America and Europe likely maintaining substantial market shares due to high internet penetration and established digital banking infrastructure; however, significant growth is projected in Asia-Pacific regions owing to increasing smartphone adoption and a large, digitally-savvy population. The restraining forces include concerns regarding data security and privacy, which necessitates robust cybersecurity measures from banks. The need for financial literacy education in some regions also presents a challenge for wider adoption. However, continuous innovation in security protocols, along with government initiatives promoting digital finance, is likely to mitigate these challenges. The forecast period will see a considerable shift towards mobile banking, integrated financial management tools, and personalized services, shaping the future of netbanking. The market’s overall growth trajectory is optimistic, indicating a promising future for this vital sector of the financial industry.

Graph and download economic data for Number of Domestic Banks That Reported Stronger Commercial and Industrial Loan Demand and Reported That Increased Customer Accounts Receivable Financing Needs Was Not an Important Reason (SUBLPDCIRSANNQ) from Q3 1999 to Q2 2025 about receivables, demand, accounts, financing, commercial, domestic, loans, banks, depository institutions, industry, and USA.

Graph and download economic data for Number of Domestic Banks That Reported Weaker Commercial and Industrial Loan Demand and Reported That Decreased Customers' Precautionary Demand for Cash and Liquidity Was Not an Important Reason (SUBLPDCIRWPNNQ) from Q4 2012 to Q2 2025 about demand, cash, liquidity, commercial, domestic, loans, banks, depository institutions, industry, and USA.