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Bank of America Corp. (BAC)

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Last Post: 9/29/2016 2:44:09 PM - Followers: 396 - Board type: Free - Posts Today: 3



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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BAC News: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 05:16 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 04:01 PM
BAC News: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 03:36 PM
BAC News: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 03:27 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 02:54 PM
News News Alert: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 09/29/2016 05:16:23 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
#19245   Yellen stated the FED is not influenced by TechKim 09/28/16 03:22:48 PM
#19244 pennystockaholic 09/27/16 09:58:20 PM
#19243   Spot on! The Pup 09/26/16 11:45:27 AM
#19242   Man you can't worry about that when purchasing pennystockaholic 09/24/16 08:44:56 AM
#19241   Meanwhile no one acknowledges that we're in a HMONNY 09/23/16 11:29:05 AM
#19240   Absolutely agree. Just look at the market today, The Pup 09/22/16 03:46:30 PM
#19239   Can't blame people for wanting to get cheap shares. pennystockaholic 09/22/16 01:59:49 PM
#19238   There is a lot of caution built into Goodtimes93 09/22/16 10:08:01 AM
#19237   Price target changes every few months as these HMONNY 09/21/16 01:00:28 PM
#19236   Agreed. That person is obviously short or has The Pup 09/21/16 09:23:08 AM
#19235   Lol will never happen pennystockaholic 09/20/16 08:13:29 PM
#19234   .0001 CarlCarlMcB 09/20/16 10:12:41 AM
#19233   Lol timber !!! CarlCarlMcB 09/20/16 10:12:20 AM
#19232   $20-25 in the horizon, way undervalued... HMONNY 09/19/16 11:20:51 AM
#19231   My pleasure, glad I could help. Gaintrader 09/18/16 02:14:43 PM
#19230   Nice.. I did not see this.. thanks much appreciated;-) Sone 09/18/16 02:11:50 PM
#19229   Did you miss this 8/30/16 announcement? Or what Gaintrader 09/18/16 02:05:53 PM
#19228   Good question. It's been approved but I haven't Snizzle 09/16/16 08:27:29 PM
#19227   Some want to guess or judge who each Snizzle 09/16/16 08:26:24 PM
#19226   Yes I always add where I can. pennystockaholic 09/16/16 10:36:42 AM
#19225   When is the dividend increase?!! Sone 09/15/16 11:25:20 PM
#19224   Did u buy ANY take a look rphili 09/15/16 10:29:02 PM
#19223   Agreed. The Pup 09/15/16 03:03:12 PM
#19222   I have made insane profits off pennies which pennystockaholic 09/15/16 02:47:01 PM
#19221   Banks are in the same over-"stored" condition malls bar1080 09/15/16 01:37:41 PM
#19220   Yes, it looks like you've moved from pennies bar1080 09/15/16 01:27:05 PM
#19219   This Stock is a over stuffed "dinosaur" and The Pup 09/15/16 01:26:24 PM
#19218   Yes "it will pop when you least expect HMONNY 09/15/16 12:55:23 PM
#19217   Ummmmm I'm not here for trust. And to pennystockaholic 09/15/16 09:27:04 AM
#19216   Who wouldn't trust someone called Pennystockaholic. "It will bar1080 09/15/16 09:08:03 AM
#19215   Trust me it will pop when you pennystockaholic 09/14/16 11:28:56 AM
#19214   Fully concur. At issue in relation to same The Pup 09/13/16 09:59:23 AM
#19213   Thats unfortunate, we need that major catalyst to HMONNY 09/13/16 08:46:10 AM
#19212   RE: Book Value and TBV, etc. The Pup 09/12/16 03:28:49 PM
#19211   Close,..we have it pegged at 23.62, however, constantly The Pup 09/12/16 10:14:15 AM
#19210   I've read from multiple sources that the book HMONNY 09/09/16 04:11:45 PM
#19209   Should be at 20 long long since. The Pup 09/08/16 03:47:59 PM
#19208   $20 by January 2017? HMONNY 09/08/16 12:25:11 PM
#19207   I agree this won't be a factor. pennystockaholic 09/08/16 09:11:57 AM
#19206   If the FED surprise everyone with a September HMONNY 09/06/16 01:00:08 PM
#19205   Nothing happens with this "over stuffed "dinosaur", and The Pup 09/06/16 11:10:51 AM
#19204   BAC- nice move this week.....Feds not raising interest Snizzle 09/02/16 08:28:34 PM
#19203   Looking like a breakout is coming eod stocky101 08/31/16 03:17:00 PM
#19202   You may very well be right. The useless Snizzle 08/30/16 09:32:24 PM