Banker & Tradesman file photo

Bank of America will become the presenting partner of the Boston Marathon beginning next year.

The Boston Athletic Association announced a 10-year agreement yesterday for Bank of America to sponsor the marathon – the world’s oldest annual marathon – held on Patriots’ Day.

“We are privileged and honored to partner with the B.A.A on this next leg of the journey for the historic Boston Marathon,” David Tyrie, chief digital officer and chief marketing officer for Bank of America, said in a statement. “Through this partnership, we will broaden our ability to help communities around the world thrive, creating positive impact for small businesses, charities, runners, and teammates on race weekend and throughout the year.”

Bank of America replaces John Hancock as the presenting partner. John Hancock had sponsored the race for nearly 40 years before deciding last year that it would not renew its contract with the B.A.A. beyond this year’s race.

Beginning next year, the race’s official title will be the Boston Marathon presented by Bank of America, which Bank of America said recognizes “the Boston Marathon’s 127-year heritage and iconic stature.”

The bank said it plans to grow the Boston Marathon’s non-profit, engagement and philanthropic initiatives, as well as extend the event’s presence through qualifying races in the bank’s nearly 100 U.S. markets and globally.

“Together, the B.A.A. and Bank of America will keep Boston front and center to ensure the Marathon remains a source of pride and passion for so many,” Jack Fleming, president and CEO of the B.A.A., said in the statement. “Through this new partnership with Bank of America, we will expand social, economic and inclusive programs for local residents, businesses, neighborhoods and communities.”

Bank of America is also the title sponsor of the Bank of America Chicago Marathon.