Despite more than doubling in value in 2012, shares of Bank of America (NYSE:BAC) still trade at a steep discount to the bank's reported book value. While legal uncertainty clouded the future of the company for years, has the main concern for investors shifted to the bank's inability to grow earnings?

In this video, Motley Fool banking analysts David Hanson and Matt Koppenheffer debate what the main drag on the bank's stock is today. 

David Hanson has no position in any stocks mentioned. 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.