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SAN FRANCISCO (MarketWatch) -- Bank of America Corp. (BAC 12.35, 0.00, 0.00%) may report a second-quarter loss as the bank continues to digest its Merrill Lynch acquisition and bolster reserves amid rising consumer loan losses, Citigroup analyst Keith Horowitz wrote in a note to investors Thursday. The analyst expects Bank of America to report a quarterly loss of 11 cents a share. That compares to the average analyst estimate of a profit of 27 cents a share, according to Thomson Reuters. "Bank of America remains heavily exposed to consumer (and less on commercial) and thus will continue to see more credit deterioration than peers in 2Q," Horowitz said. "However, we expect Bank of America will emerge from this cycle faster than peers as we expect consumer loan loss provisions to peak in late '09, while commercial will peak in late 2010." Horowitz also said Bank of America has a "more than adequate capital cushion" to absorb upcoming credit losses. He reiterated his buy recommendation on the stock.