Bank of America chief Ken Lewis’ embattled career lived to see another day yesterday after the bank’s directors voiced support for him despite a growing sense on Wall Street that BofA bungled its merger with Merrill Lynch.

Many Wall Street eyes were focused on BofA’s Charlotte, NC, headquarters, where the banking titan was holding its first regularly scheduled board meeting since news that Merrill suffered a $15 billion, fourth-quarter loss and might have forced through $4 billion in bonuses just days before the BofA-Merrill acquisition was completed.

While few people expected Lewis to get fired at yesterday’s board meeting, sources said some directors weighed stripping Lewis of his chairman’s title and leaving him just CEO.

However, the board opted against that move and instead repeated its support for Lewis.

“The board today during their regular meeting expressed support for Kenneth Lewis and the Bank of America management team, noting their experience in managing through challenging environments and in assimilating mergers,” said lead independent director Temple Sloan in a statement.