Bank of America Closing Branches
Bank of America is closing branches all across the country to cut back on expenses. Bank of America is planning on closing 10% of its branches which would equate to around 610 branch closings.
Bank of America stock is up $0.25 or 1.91% at the time of this writing so it appears that stock holders agree that this is a move to just cut the fat off of BofA.
Bank of America was one of the larger recipients of government bailout money receiving $45 billion that has yet to be paid back. What do you think of the move? Are they in trouble or just cutting on unnecessary expenses?