[Update 1 includes new details on departures from BofA.] Of the 19 largest US banks, a few passed the government-initiated stress tests with plenty of capital, some were found to be lacking a few billion dollars, and then there was Bank of America [stock BAC][/stock]. In need of billions dollars in fresh capital and reeling from a board of directors exodus -- including the departure of 13-year company veteran O. Temple Sloan Jr. from the lead post on the board -- BofA needed some new talent. And quick.

Bank of America [stock BAC][/stock] saw a bit of shuffling this weekend after announcing late Friday that 13-year company veteran O. Temple Sloan Jr. resigned his leading post on the board of directors. Sloan, who also served as chairman to the board of directors' executive and compensation committees, stepped down in the face of government-initiated stress test results showing the bank lacked $33.9bn in fresh capital to withstand more dire economic circumstances.