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Bank of America Corp. (BAC)

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Last Post: 10/27/2016 12:50:10 PM - Followers: 396 - Board type: Free - Posts Today: 6



Corporate Profile

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,300 retail banking offices and approximately 16,350 ATMs and award-winning online banking with 30 million active users and more than 13 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Corporate Structure

Merrill Lynch & Co., Inc. is a wholly owned subsidiary of Bank of America Corporation.

Debt Profile

Prior to Merrill Lynch's acquisition by Bank of America, Merrill Lynch & Co., Inc. (ML & Co.) was the primary issuer of Merrill Lynch's debt instruments. Debt instruments were also issued by certain subsidiaries. ML & Co. is no longer a primary issuer of new unsecured borrowings under the Bank of America platform. Bank of America has not assumed or guaranteed the long-term debt that was issued or guaranteed by ML & Co. or its subsidiaries prior to the acquisition of Merrill Lynch by Bank of America.

Following the completion of Bank of America's acquisition of Merrill Lynch, ML & Co. became a subsidiary of Bank of America and established intercompany lending and borrowing arrangements to facilitate centralized liquidity management. Included in these arrangements is a $50 billion extendible one-year revolving line of credit that allows Bank of America to borrow funds from Merrill Lynch at a spread to LIBOR that is reset periodically and is consistent with other intercompany agreements. The line of credit matures on January 1, 2014 and will automatically be extended by one year to the succeeding January 1st unless Merrill Lynch provides written notice not to extend at least 45 days prior to the maturity date. There were no amounts outstanding at both March 31, 2013 and December 31, 2012 under this credit facility. There is also a short-term revolving credit facility that allows Bank of America to borrow up to an additional $25 billion. Interest on borrowings under the credit facility is based on prevailing short-term market rates. The line of credit matures on February 11, 2014. At March 31, 2013 and December 31, 2012, approximately $10.7 billion and $16.2 billion, respectively, was outstanding under this line of credit.

Brian T. Moynihan is the chief executive officer of Bank of America. He was elected to his role by the board of directors on December 16, 2009, and took office on January 1, 2010. Moynihan also is a member of the Bank of America board of directors. Moynihan has led Bank of America’s Global Diversity and Inclusion Council, a group of senior executives from across lines of business, since 2007. Moynihan joined Bank of America in 2004 following the company’s merger with FleetBoston Financial. In 2010, he was elected a trustee of the Corporation of Brown University.

Bank of America Corporate Center
100 North Tryon Street
Charlotte, NC 28255


Investor Relations:
Tel: 704-386-5681
Fax: 980-386-6699


Updated: 9/13/13

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Current Price
Bid Ask Day's Range
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 10/25/2016 02:44:41 PM
BAC News: 2016 U.S. Trust Study of High Net Worth Philanthropy Reveals Positive Giving and Volunteering Forecasts for the Coming Years 10/25/2016 09:00:00 AM
BAC News: Revealed: The Secrets to the Perfect Shopping Trip 10/25/2016 08:00:00 AM
BAC News: Revealed: The Secrets to the Perfect Shopping Trip 10/25/2016 08:00:00 AM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 10/25/2016 06:03:02 AM
#19296   $25 would put it @ 1:1 book value. HMONNY 10/27/16 12:50:10 PM
#19295   yep, BAC looking strong again. 17$ now, next cyclone101 10/27/16 12:24:17 PM
#19294   Looking good today pennystockaholic 10/27/16 12:20:18 PM
#19293   NICE $17 finally, December rate hike & we'll HMONNY 10/27/16 12:08:26 PM
#19292   Looks like another failed day...what a tease... HMONNY 10/27/16 10:28:27 AM
#19291   Great for you, ride that wave brother. HMONNY 10/27/16 08:27:10 AM
#19290   It ran a lot higher than I expected pennystockaholic 10/26/16 08:41:45 PM
#19289   I'm looking at $17, it'd be nice to HMONNY 10/26/16 05:41:24 PM
#19288   That will make this stock suffer. Could you pennystockaholic 10/26/16 04:51:11 PM
#19287   They are still derisking their portfolio. Goodtimes93 10/26/16 11:37:23 AM
#19286   i read somewhere they're planning to downsize or HMONNY 10/26/16 11:30:05 AM
#19285   They have more cash on hand but increased pennystockaholic 10/25/16 08:32:21 PM
#19284   Take a look at this article, HMONNY 10/25/16 07:26:30 PM
#19283   HMONNY, When the feds hick interest rates, what juda 10/25/16 10:03:34 AM
#19282   Ok. If you say so. I hope you're Agent92260 10/24/16 10:53:39 PM
#19281   They're much healthier right now compared to this HMONNY 10/24/16 09:52:23 PM
#19280   Most dividend stocks trade at 1.5+ book value, HMONNY 10/24/16 09:50:39 PM
#19279   Anyone else think that this stock could see GVInvestments 10/24/16 06:42:57 PM
#19278   Nice and green today. pennystockaholic 10/24/16 01:25:44 PM
#19277   I hope you're right, but they were strong Agent92260 10/24/16 11:19:54 AM
#19276   because they're doing great in these conditions, a HMONNY 10/24/16 08:00:56 AM
#19275   Difference this year is big banks are in HMONNY 10/24/16 07:58:18 AM
#19274   Analysis are starting to look very hawkish on HMONNY 10/24/16 07:56:38 AM
#19273   Yes I see but this is only a pennystockaholic 10/22/16 09:02:24 AM
#19272   The Feds will do as they are told. Snizzle 10/21/16 09:52:58 PM
#19271   I thought so too, last year, but instead Agent92260 10/21/16 05:43:48 PM
#19270   Feds finally get off their a$$ and raise HMONNY 10/21/16 04:28:56 PM
#19269   Should be a little higher but we will pennystockaholic 10/20/16 03:24:51 PM
#19268   Book Value $24pps HMONNY 10/18/16 04:16:36 PM
#19267   Sell on the news. No worries, it'll be Agent92260 10/17/16 12:51:44 PM
#19266   down half a percent on the day they HMONNY 10/17/16 11:39:42 AM
#19265   Beat. Imagine that. If you haven't figured it JTrader 10/17/16 06:51:15 AM
#19264   Positive results $17 today? HMONNY 10/17/16 06:50:44 AM
#19263   Yesssss we will see. pennystockaholic 10/15/16 02:24:12 PM
#19262   Earnings for BAC Monday. Here's a quick fundamental ValueInvestor15 10/15/16 01:06:06 PM
#19261   Best stock to own when the rate hike comes Ritchie11 10/14/16 12:59:17 PM
#19260   Yes, and now on all the "strong buy" The Pup 10/09/16 11:37:38 AM
#19259   Yes, and now on all the "strong buy" The Pup 10/09/16 11:37:24 AM
#19258   BAC will no doubt be a fun ride Snizzle 10/07/16 09:56:37 PM
#19257   Best of all in terms of strong fundamentals. The Pup 10/07/16 08:14:55 AM
#19256   With the markets down BAC is trading flat Ritchie11 10/06/16 11:44:56 AM
#19255 [ Ritchie11 10/05/16 12:02:08 PM
#19253   Sadly, WFC has legal issues now that have The Pup 10/03/16 09:26:28 AM
#19252   Wells fargo has BOA looking like financial gods...ROTFL Bostonsesco 09/30/16 12:33:48 PM
#19251   Do you really think she is a political blonde? TechKim 09/29/16 02:44:09 PM
#19250   Yellen is full of sheet... JV44 09/29/16 01:55:49 PM
#19249   We firmly believe the big banks should be The Pup 09/29/16 10:58:38 AM
#19248   Politics? Who is trying to lead and control TechKim 09/28/16 04:33:00 PM
#19247   When they find out other banks have been millionareinprogress 09/28/16 04:30:50 PM
#19246   They've dug such a deep hole trying to HMONNY 09/28/16 04:00:39 PM