Bank of America boosted chief executive Brian Moynihan's salary and bonus 17% to $14 million for 2013, rewarding its top executive for a year in which the bank posted its strongest annual profit since 2007.

The second largest US lender by assets paid its CEO $1.5 million in salary and $12.5 million in restricted shares, according to a regulatory filing Wednesday evening and a proxy statement from last year. The payout is Moynihan's largest since he took over the Charlotte, North Carolina, company in 2010.