Bank of America’s Lewis Named, Gulp, Banker of the Year

Kenneth Lewis, the chief executive of Bank of America Corp., will receive the 2008 Banker of the Year award from American Banker, and no doubt the editors there are just hoping Bank of America doesn’t implode before the Dec. 4 dinner. The truth is, who else could receive the award this year? Every bank in the nation is on its heels today.

As explained by the Charlotte Business Journal:

According to American Banker, the reach of BofA’s branch network has become the standard against which other top U.S. banks are judged. In addition, the bank’s deposit base has provided a source of stability during a year when both were in short supply in the financial-services industry. The publication says Lewis turned BofA into a mortgage powerhouse with its acquisition of Countrywide Financial Corp. in July. That deal was followed by BofA’s proposed acquisition of Merrill Lynch & Co. Inc., which will establish the Charlotte-based bank as a leader in wealth management.

This is like crediting BofA for getting hit by slightly less shrapnel than the next grunt, which is not exactly award-worthy, in my opinion.