The market wasn't impressed with the first-quarter performance of Bank of America (NYSE:BAC), sending shares in the nation's second largest bank down by more than 5%. But the reality is that things are much better than they appeared at first. In the video below, Motley Fool contributor John Maxfield discusses one specific aspect of Bank of America's earnings that traders and analysts obviously either overlooked, or unfairly dismissed.

John Maxfield owns shares of Bank of America. The Motley Fool owns shares of Bank of America. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.