Earlier this week, Bank of America (NYSE:BAC) reported its first-quarter earnings. The bank swung to a loss during the quarter and managed to disappoint investors along the way.

Over the past two years, Bank of America's stock is up more than 80% as investors have become increasingly confident that the bank has put much of its financial-crisis problems behind it. But are they right?

In the clip below from The Motley Fool's bank-focused show "Where the Money Is," Motley Fool analysts Matt Koppenheffer and Max Macaluso discuss one issue that was particularly worrying in Bank of America's quarterly report.