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Bank of America Corp. (BAC)

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Last Post: 2/12/2016 11:59:21 PM - Followers: 387 - 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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Current Price
Bid Ask Day's Range
BAC News: Statement of Changes in Beneficial Ownership (4) 02/12/2016 06:51:55 PM
BAC News: Statement of Changes in Beneficial Ownership (4) 02/12/2016 06:50:54 PM
BAC News: Statement of Changes in Beneficial Ownership (4) 02/12/2016 06:49:03 PM
BAC News: Statement of Changes in Beneficial Ownership (4) 02/12/2016 06:47:50 PM
BAC News: Statement of Changes in Beneficial Ownership (4) 02/12/2016 06:46:06 PM
#18793   I sure wish I would have gotten my jump1 02/12/16 11:59:20 PM
#18792   It is beyond comprehension. He definitely hasn't slacker01 02/12/16 07:25:48 PM
#18791   BAC has to regain positive investor sentiment. It TechKim 02/12/16 07:08:53 PM
#18790   See PPS goes 17 to 10 and Brian stocksnoway 02/12/16 06:33:03 PM
#18789   King, you a glutten for punishement here with slacker01 02/12/16 05:35:05 PM
#18788   Why does no one believe these numbers? stocksnoway 02/12/16 01:53:56 PM
#18787   Exposure to energy is not significant: PDQTail 02/12/16 12:36:35 PM
#18786   Like I said, prepare for 10 bucks because rockymtncane 02/11/16 11:27:29 PM
#18785   374M volume omg KingDMC 02/11/16 06:57:51 PM
#18784   Yup....European banks gonna go first, we will follow. Lone Wolf 02/11/16 06:24:46 PM
#18783   Market trying to make a big 'Dump' day. JJ8 02/11/16 02:40:23 PM
#18782   Ahhhh that's what it is! PennyBears 02/11/16 02:19:08 PM
#18781   It's 11:11 AM over here!:-) JJ8 02/11/16 02:11:23 PM
#18780   This 11.15 is weird. PennyBears 02/11/16 02:06:08 PM
#18779   A bounce appears reasonable st at this time, JJ8 02/11/16 12:45:33 PM
#18778   Well, the trend is... or could be, your friend. JJ8 02/11/16 11:48:04 AM
#18777   They are broke! Liabilities > Assets! Lowjack 02/11/16 11:24:49 AM
#18776   Lol Sone 02/11/16 09:51:18 AM
#18775   Time to go short after a 40% pullback Tincupx 02/11/16 09:39:39 AM
#18774   Yup. Time to go short here. Lone Wolf 02/11/16 07:58:33 AM
#18773   .99 on deck CarlCarlMcB 02/11/16 07:16:22 AM
#18772   You short may be right. I thought I MJ moneymaker 02/11/16 06:49:25 AM
#18771   No! Deep more. Be $6 or lower! Blackfuture 02/10/16 11:28:05 PM
#18770   Going to 10 bucks real soon. Buy rockymtncane 02/10/16 09:59:26 PM
#18769   I got over 25 million shares in the stocksnoway 02/10/16 07:27:24 PM
#18768   Most of those big trades went off above MJ moneymaker 02/10/16 05:47:53 PM
#18767   They are selling not buying rockymtncane 02/10/16 05:01:36 PM
#18766   Keep seeing enormous buys end of day one MJ moneymaker 02/10/16 04:25:58 PM
#18765   Added some 11.99 just now. MJ moneymaker 02/10/16 03:45:21 PM
#18764   Got my second buy today 11.97. jump1 02/09/16 06:33:06 PM
#18763   When you know you have lost 100% respect stocksnoway 02/09/16 01:15:42 PM
#18762   BAC in at 12 will see if I stocksnoway 02/09/16 10:41:45 AM
#18761   BAC is not going away any time to TechKim 02/08/16 09:41:00 PM
#18760   I did today at 12.16, and hoping for jump1 02/08/16 06:25:09 PM
#18759   Wow... a 'violent day' in the Larger Market, JJ8 02/08/16 05:40:57 PM
#18758   Every time the Larger Market gives a small JJ8 02/08/16 12:20:12 PM
#18757   Was a good day to buy small fills. TechKim 02/05/16 06:23:16 PM
#18756   Yes true. I heard this morning talk of JLHammer 02/05/16 09:31:49 AM
#18755   JL HAMMER nimbustux 02/05/16 09:21:26 AM
#18754   Lol. It's just scared selling. There are tremendous JLHammer 02/05/16 09:15:56 AM
#18753   It's a market implosion! 1929! Lowjack 02/05/16 09:11:05 AM
#18752   I think the oil market is just screwing JLHammer 02/05/16 09:02:11 AM
#18751   JL Hammer nimbustux 02/05/16 08:50:50 AM
#18750   I think you are right about the bottom. JLHammer 02/03/16 03:04:37 PM
#18749   Some loose money picking up the cheap shares. TechKim 02/03/16 03:01:45 PM
#18748   Starting to turn back up it looks like. JLHammer 02/03/16 02:09:24 PM
#18747   Hopefully the clearance sale just ended and we fishreplicas1 02/03/16 11:49:27 AM
#18746   That's just it! Nothing has changed since 2007! Lowjack 02/03/16 11:36:25 AM
#18745   stock is getting slaughtered. what has changed with IPO$ 02/03/16 09:54:22 AM
#18744   I would not get spooked over BAC expose TechKim 02/03/16 08:26:27 AM