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Bank of America Corp. (BAC)

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Moderator: TREND1, HMONNY, FutureBankruptcy
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Last Post: 7/26/2017 2:39:02 PM - Followers: 410 - 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

Current Price
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BAC News: Bank of America and PayPal Partner to Enable In-Store Payments and Account Linking 07/26/2017 04:15:00 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 07/25/2017 04:19:35 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 07/21/2017 05:19:16 PM
BAC News: Earnings Recap Week Ending July 21st, 2017 07/21/2017 09:00:00 AM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(5) (424b5) 07/20/2017 09:42:52 AM
News News Alert: Bank of America and PayPal Partner to Enable In-Store Payments and Account Linking 07/26/2017 04:15:00 PM
#20465  Sticky Note BAC CCI 10 TREND1 07/24/17 10:48:18 PM
#20449  Sticky Note Credit Suisse Group raised their target price on FutureBankruptcy 07/19/17 10:41:09 AM
#20473   Dividend time guys.. raff 07/26/17 02:39:02 PM
#20472   Could this be breakout into the Christmas Rally? HMONNY 07/26/17 07:48:54 AM
#20471   Quote & Chart - The gains held strongly FutureBankruptcy 07/25/17 07:49:05 PM
#20470   Yes I love the chart. pennystockaholic 07/25/17 07:20:56 PM
#20469   Bullish Pattern Alert to 12% Upside - $BAC FutureBankruptcy 07/25/17 10:19:36 AM
#20468   Dividend Yield = 1.25% TREND1 07/24/17 10:52:26 PM
#20467   PE Ratio = 15.20 TREND1 07/24/17 10:51:02 PM
#20466   EPS = 1.58 TREND1 07/24/17 10:49:14 PM
#20465   BAC CCI 10 TREND1 07/24/17 10:48:18 PM
#20464   If possible visit a HFT exchange. There are Equitiesduke 07/22/17 06:52:41 AM
#20463   Very true - it take some time to FutureBankruptcy 07/21/17 06:33:38 PM
#20462   Everone is bullish on BAC. Problem is the Equitiesduke 07/21/17 09:02:38 AM
#20461   Oppenheimer Bullish on $BAC Target-PPS $26.30 FutureBankruptcy 07/20/17 06:05:28 PM
#20460   Arrow Financial Corp Has $2.88 Million Stake in $BAC FutureBankruptcy 07/20/17 06:03:47 PM
#20459   Top 10 Hedge Funds Holding $BAC - LINK FutureBankruptcy 07/20/17 06:02:09 PM
#20458   5 Fascinating Numbers About Bank of America's Mobile FutureBankruptcy 07/20/17 06:01:21 PM
#20457   $BAC Shares Bought by Eagle Ridge Investment Management FutureBankruptcy 07/20/17 05:59:33 PM
#20455   ........ Fibanotch 07/20/17 08:27:06 AM
#20454   Easy money ? I think so pennystockaholic 07/19/17 10:10:06 PM
#20453   Two Sigma Securities increased $BAC stake 1334.48% reported FutureBankruptcy 07/19/17 07:17:03 PM
#20452   $BAC Shares Bought by Swedbank FutureBankruptcy 07/19/17 05:51:51 PM
#20451   Capital LLC Has $6.94 Million Position in Bank FutureBankruptcy 07/19/17 05:50:21 PM
#20450   $BAC Stock Dip Is a Buy FutureBankruptcy 07/19/17 05:48:02 PM
#20449   Credit Suisse Group raised their target price on FutureBankruptcy 07/19/17 10:41:09 AM
#20448   Bank of America Corp (BAC) Stock Has More FutureBankruptcy 07/19/17 10:39:24 AM
#20447   hurry, hurry , step right up Fibanotch 07/19/17 09:09:05 AM
#20446   LOL, Decarz 07/19/17 09:01:30 AM
#20445   Bank of America beats Earning Estimates - it FutureBankruptcy 07/19/17 08:51:56 AM
#20444   no thanks... Fibanotch 07/19/17 08:42:32 AM
#20443   yes and there's still time for this Decarz 07/19/17 08:33:08 AM
#20442   r u a good options trader Fibanotch 07/19/17 07:00:50 AM
#20441   Decode today's BAC earnings raff 07/18/17 04:07:23 PM
#20440   Spot on ! Equitiesduke 07/18/17 07:30:10 AM
#20439   Of course beats on everything & down 1%. HMONNY 07/18/17 07:16:54 AM
#20438   Absolutely! Equitiesduke 07/17/17 06:44:33 PM
#20437   Agree. Equitiesduke 07/17/17 06:40:45 PM
#20436   It be #firesale time! Lowjack 07/17/17 04:42:10 PM
#20435   That could be viewed as a good thing HMONNY 07/17/17 10:45:41 AM
#20434   One more item. Equitiesduke 07/15/17 06:51:53 AM
#20433   In addendum: Equitiesduke 07/15/17 06:45:01 AM
#20432   Good Post! Equitiesduke 07/15/17 06:36:00 AM
#20431   I agree 100%. phinhead1972 07/14/17 02:16:24 PM
#20430   This is really "frying" many of us! Equitiesduke 07/13/17 07:23:38 AM
#20429   The article just below this one by "The JWard99 07/11/17 05:26:58 AM
#20428   Visit a HFT exchange and you will. There Equitiesduke 07/07/17 01:32:50 PM
#20427   I don't understand the hold up....While companies with HMONNY 07/07/17 12:50:22 PM
#20426   25.50 leggoo ¬©PROPHETABLE 07/06/17 12:03:40 PM
#20425   still pushing looking good pennystockaholic 07/06/17 11:34:01 AM
#20424   Yes that's true,didn't want confuse people I kept Decarz 07/06/17 10:30:13 AM
#20423   It's only high risk if you don't know HMONNY 07/06/17 10:25:46 AM