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Bank of America Corp. (BAC)

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Last Post: 11/19/2017 10:35:52 AM - Followers: 411 - Board type: Free - Posts Today: 0



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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#20565   The top of the year will tell it pennystockaholic 11/19/17 10:35:52 AM
#20564   Agree in total. Equitiesduke 11/13/17 08:06:38 AM
#20563   Keeping Yellen at the helm would also be TechKim 11/09/17 03:23:59 PM
#20562   Personally I would say stick to the financials TechKim 11/09/17 03:18:45 PM
#20561   It seems like we hit a soft patch fr8 11/08/17 05:47:52 PM
#20560   Incredible BAC Stock "manipulation" ongoing! Brokers, institutions, politicians, Equitiesduke 11/07/17 11:07:24 AM
#20559   Why not ? What's going to stop it pennystockaholic 10/25/17 03:28:13 PM
#20558   I see this stock going to $50.00 in Ezekeiel 10/25/17 09:12:09 AM
#20557   Dollar bills lol clearsudden 10/24/17 12:08:28 PM
#20556   You maybe very close to being correct. TechKim 10/23/17 04:36:31 PM
#20554   Feb $30 call options let's gooooo jackpotz 10/20/17 12:33:17 PM
#20553   Bac In beast mode? clearsudden 10/20/17 09:51:27 AM
#20552   So is Warren Buffett! The rich old "guy" Equitiesduke 10/19/17 08:29:10 AM
#20551   Hopefully we do, but a recent visit to Equitiesduke 10/14/17 10:52:22 AM
#20549   PayPal and Square take note of fast Zelle uptake FUNMAN 10/13/17 09:51:43 AM
#20548   Futures are green. I have a feeling banks jones99 10/13/17 05:12:02 AM
#20547   Onward and upward 52172 10/06/17 01:04:17 AM
#20546   Yes starting to make that push. pennystockaholic 10/05/17 11:59:09 PM
#20545   Lock & loaded... HMONNY 10/03/17 05:01:01 PM
#20544   You da man!!!!!! How things have changed. 2 point spread 10/02/17 08:25:23 PM
#20543   Nothing beats my .01 a contract $22 January17s HMONNY 10/02/17 10:29:55 AM
#20542   We will see soon enough. pennystockaholic 09/30/17 09:12:41 PM
#20541   I believe it will get to $35 2 point spread 09/29/17 04:04:54 PM
#20540   The $24 or $25 calls 3 to 4 2 point spread 09/29/17 04:04:25 PM
#20539   Yeah I've been playing with the $24-25 calls HMONNY 09/28/17 09:47:54 AM
#20538   Bank of Ruptcy ~ A16 andrew16 09/27/17 08:40:50 PM
#20537   I don't know but I've made a lot 2 point spread 09/26/17 02:11:59 PM
#20536   You would have to believe that that nut HMONNY 09/26/17 10:56:37 AM
#20535   Technical Signal Analysis for Bank of America Corporation (NYSE:BAC) HERMES8 09/25/17 04:57:46 PM
#20534   Probably but could change depending on DPRK's next move. 2 point spread 09/21/17 12:24:23 PM
#20533   Maybe a real chance. The charts are looking pennystockaholic 09/20/17 08:35:50 PM
#20532   The gates have been breached finally. 25 might be clearsudden 09/20/17 03:09:19 PM
#20531   I just want to bet on safe option tpg 09/19/17 05:09:11 PM
#20530   took some profits today flipping the boli band FutureBankruptcy 09/13/17 02:57:57 PM
#20529   Yes, agree as well. viewmont 09/12/17 02:12:53 PM
#20528   Agreed, there is still so much liquidity on HMONNY 09/09/17 12:45:23 AM
#20527   More than positive. It's just a matter of time. 2 point spread 09/08/17 10:27:07 AM
#20526   Hoping to go back over 24 soon .if possible tiger1966 09/07/17 07:58:12 PM
#20525   Now we're getting closer to healthy price action! Agent92260 09/07/17 11:53:17 AM
#20524   Talal Fouani kingofme 09/05/17 03:14:41 PM
#20523   Ridiculous clearsudden 09/05/17 03:04:02 PM
#20522   Seriously... HMONNY 09/05/17 11:52:04 AM
#20521   And the DPRK to stop. 2 point spread 09/05/17 10:06:30 AM
#20520   Yup! Warren has so stated to His and other Equitiesduke 09/02/17 08:09:09 AM
#20519   Sold my calls just now 2 point spread 09/01/17 11:31:11 AM
#20518   Just need the damn government to get off HMONNY 08/31/17 08:36:56 AM
#20516   That's good. I'm still in and out 2 point spread 08/30/17 01:54:08 PM
#20515   Buffet reiterates that HMONNY 08/30/17 10:34:43 AM
#20514   How much for the city of Houston? Or Lowjack 08/28/17 04:03:21 AM