Bank of America Chairman and Chief Executive Kenneth Lewis said it may take several quarters for the bank to repay its $45 billion of federal bailout money, although he believes the US economy may bottom out in the second half of this year.

“We’re at a point where you’re seeing mixed signals, just small mixed signals, some housing sales a little better than you’d think, or some car sales not being quite as bad as you’d think,” Lewis said on CNBC. “It signals that you’re getting close to the bottom.”

Charlotte, NC-based Bank of America is expected to release first-quarter results on April 20. At its annual meeting nine days later, Lewis will face angry shareholders calling for his ouster in light of the bank’s sinking share price and its troubled acquisition of Merrill Lynch.

BofA took $25 billion from the federal Troubled Asset Relief Program (TARP) last year and another $20 billion in January to absorb losses at Merrill. Lewis said he regretted taking that much and said the bank would not need more aid.