Bank of America earnings drop 41 percent

BALTIMORE (Map, News) - Bank of America’s second quarter earnings fellselect all 41 percent from the same time a year before to $3.41 billion, or 72 cents per share, the bank reported Monday.

But the Baltimore area’s largest bank still topped Wall Street expectations of 53 cents per share, and net interest income rose to $10.6 billion fselect allrom nearly $8.4 billion a year ago. Bank of America’s all-time high earnings of $5.76 billion came during the second quarter of 2007.

PSA Insurance & Financial acquires ABG Mid-Atlantic office

Hunt Valley-based Insurance & Financial Services has acquired the Baltimore office of Alliance Benefit Group Mid-Atlantic, a provider of employee retirement programs, the firm announced Monday. Terms of the deal were not disclosed. The acquisition brings to PSA 20 new employees and business including companies with up to $50 million in retirement plans. PSA reported $25 million in revenue last year, and ABG Mid-Atlantic saw $3.6 million. “To date, our retirement planning services have focused on the small to medium business market,” Ed Kushlis, PSA senior vice president of New Business Development, said in a statement. “ABG brings considerable strength and experience in serving larger companies.”

Stephen James Associates expands into Florida

Baltimore-based national recruitment firm Stephen James Associates has extended its brand into Florida by changing the name of Kramer Professional Staffing, which it acquired in December 2006, to Stephen James Associates. Kramer Professional Staffing has offices in Boca Raton, Miami, and Fort Lauderdale, with a Palm Beach Gardens office to open later this year. — Compiled by Aaron Cahall