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Bank of America Corp. (BAC)

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Last Post: 4/18/2014 8:32:44 PM - Followers: 362 - 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

#16654   Not sure. Looks like the worst is now IPO$ 04/18/14 08:32:44 PM
#16653   Selling target ? moneymaker$ 04/18/14 05:39:05 PM
#16652   I'm long 1,500 - got em at $15.50 IPO$ 04/18/14 12:51:02 PM
#16651   $19 sooner than later $BAC is Cheap stockmarkot 04/17/14 10:07:10 PM
#16650   Do u think we hit that in the summer? moneymaker$ 04/17/14 09:05:37 PM
#16649   Upgraded today with 19 dollar price target by Oppenheimer JCB5 04/17/14 10:12:25 AM
#16648   They did not get filled yet. Stock is IPO$ 04/16/14 12:57:56 PM
#16647   Yea I agree.....did you purchase those April 19 calls??? Skitradr 04/16/14 12:25:02 PM
#16646   Good play here. IPO$ 04/16/14 12:23:04 PM
#16645   I was going to set mine for .60........then Skitradr 04/16/14 12:11:01 PM
#16644   Order Confirmation IPO$ 04/16/14 12:07:58 PM
#16643   Should I but APR calls with only 2 IPO$ 04/16/14 12:05:33 PM
#16642   I have order to buy 100 contracts at IPO$ 04/16/14 12:03:32 PM
#16641   Buying...... Skitradr 04/16/14 11:56:00 AM
#16640   Are you writing the calls or buying them??? IPO$ 04/16/14 11:55:39 AM
#16639   Yea, I agree...this is ON FIRE.......couldn't pass up Skitradr 04/16/14 11:50:31 AM
#16638   Come and get it while it's hot. guster0 04/16/14 10:52:45 AM
#16637   Loading zone!!! ison929 04/16/14 10:17:13 AM
#16636   And hear I was thinking the May 17 Skitradr 04/16/14 10:17:05 AM
#16635   BAC looks good once all lawsuits are cleared Jld3294 04/16/14 10:12:50 AM
#16634   Everyone does what they need to, todays loss trunkmonk 04/16/14 08:15:45 AM
#16633   Yes.... I have been trading it since $6.00 range.... JCB5 04/15/14 05:39:05 PM
#16632   DLO Filled: BAC - 03:32:55 Sold @ $16.34 JJ8 04/15/14 03:47:17 PM
#16631   Anyone else remember when this was at $5??? Liam859 04/15/14 02:30:53 PM
#16630   Making money.... Thanks BAC JCB5 04/15/14 10:22:48 AM
#16629   $BAC: MA(50) heading for a bearish crossover in bsdvs23 04/15/14 12:05:56 AM
#16628   It's all thanks to C. The truth of Jld3294 04/14/14 09:35:31 AM
#16627   Doesn't look like she's doing too bad pre nathan2123 04/14/14 08:11:43 AM
#16626   Ahhh...Another Monday morning and the headlights not penetrating. ison929 04/14/14 06:35:07 AM
#16625   It's been a while JJ8, glad to see KING_TRADER$ 04/14/14 03:39:46 AM
#16624   BAC tech analysis Hereitfirst 04/13/14 02:12:25 PM
#16623   This will run to 50 long term!!! OGSPECULATOR 04/12/14 11:20:34 PM
#16622   Thank you JJ8 for ur reply. As always moneymaker$ 04/12/14 05:44:41 PM
#16621   moneymaker$, regardless of where we go in pps JJ8 04/12/14 02:45:42 PM
#16620   Never thought we would see these prices again. moneymaker$ 04/11/14 08:26:30 PM
#16619   took 1/2 off the table. See if the guster0 04/11/14 05:30:12 PM
#16618   Watch the vix teifhals 04/11/14 11:14:22 AM
#16617   How long can we stay above 16.00? guster0 04/11/14 11:08:11 AM
#16616   Holy dip! I jumped out at 17.5 to teifhals 04/11/14 10:51:33 AM
#16615   Symbol:BAC Action: Sold JGulley317 04/11/14 10:24:27 AM
#16614   Not comfortable with this little rebound, it might ison929 04/11/14 10:06:17 AM
#16613   Pre-market is making inroads for pps move to JJ8 04/11/14 09:28:37 AM
#16612   Buying opportunity??? ison929 04/11/14 09:28:31 AM
#16611   Not good from JPM Jld3294 04/11/14 07:11:59 AM
#16610   Do we go higher with jpm er tomorrow moneymaker$ 04/10/14 05:48:18 PM
#16609   2nd DLO Filled: BAC - 03:08:48 Bought @ $16.12 JJ8 04/10/14 03:11:23 PM
#16608   Hoping the lows now behind us. If it ison929 04/10/14 02:24:27 PM
#16607   DLO Filled: BAC - 12:02:54 Bought @ $16.26 JJ8 04/10/14 12:06:04 PM
#16606   Is that a cup with a handle ?? lattamoney23 04/09/14 09:52:55 PM
#16605   Should have followed this closer, it filled the trunkmonk 04/09/14 08:11:05 PM