Shares of Bank of America (NYSE: BAC) climbed nearly 5% on Oct. 14 after the second-largest bank by assets in the U.S. reported third-quarter earnings results that beat expectations. Here are four reasons why the market liked Bank of America's Q3 results. While there was some loan growth in the quarter, net interest income benefited from an additional day in the quarter, more deposit growth, lower premium amortization expense, and more than $300 million of interest income from Paycheck Protection Program loans.
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