Bank of America Corp (BAC): So, What Is Next?

Mortgage production was up, also vitally important in an economy that is traditionally driven hard by the housing sector.

Net income was $2.6 billion, up from $653 million for the same quarter last year.

Even total revenue was up, by 5%, in a quarter when revenue was down at Chase & Co. (NYSE:JPM) and Wells Fargo & Co (NYSE:WFC).

Investors who bought shares at the start of 2012 and hung on until the end were rewarded with a better than 100% return. Right now, shares are trading from a little more than $12. Certainly the bank can do better than that, and it probably will, but it will take a long time. And the up-and-down gyrations could be severe in the meantime.

The Motley Fool preaches long-term, buy-and-hold investing, and an investment in Bank of America Corp (NYSE:BAC) might be the ultimate test of that.

The article What’s Next for Bank of America? originally appeared on Fool.com.

Fool contributor John Grgurich owns shares of Citigroup and JPMorgan Chase. Follow John’s dispatches from the bleeding heart of capitalism on Twitter @TMFGrgurich. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo.

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