This morning, Bank of America (BAC) reported fourth quarter earnings of $3.44 billion, or 29 cents per share, as revenue climbed to $22.3 billion. The company topped Wall Street estimates on both the top and bottom line, sending shares higher on Wednesday morning. In the report, Bank of America said that its bad loan provisions fell from $2.2 billion in the fourth quarter of 2012 to $336 million at the end of this quarter. Shares of Bank of America were climbing this morning, crossing above $17 per share and touching a new 52 week high.
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