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Bank of America Corp. (BAC)

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Last Post: 7/31/2014 5:12:12 PM - Followers: 362 - Board type: Free - Posts Today: 7


Website: https://www.bankofamerica.com/

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.
Website: www.ml.com/US

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
Option Chain for BAC
BAC News: Bank of America Changes the Game With Preferred Rewards 07/30/2014 11:00:00 AM
BAC News: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 07/29/2014 05:13:00 PM
BAC News: MBNA Shortlisted for National Customer Experience Awards 07/29/2014 11:53:00 AM
BAC News: MBNA Shortlisted for National Customer Experience Awards 07/29/2014 11:53:00 AM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(3) (424b3) 07/29/2014 06:04:18 AM
#17067   Not sure that will be a catch all. guster0 07/31/14 01:30:06 PM
#17066   Pay the DOJ the 17B & Move On Decarz 07/31/14 09:57:24 AM
#17065   The bank was offering a total of $13 guster0 07/31/14 09:13:46 AM
#17064   Morning Agenda: Bank of America and U.S. Far guster0 07/31/14 09:11:26 AM
#17063   Whatever fines BAC has to pay they can guster0 07/31/14 07:35:56 AM
#17062   BAC TOTALLY UNDERVALUED With $635B in Cash on Decarz 07/31/14 07:22:19 AM
#17061   He claims that is what the American people want? guster0 07/30/14 10:58:19 AM
#17060   Govt. is broke they need to extort money snowleopard 07/30/14 10:36:38 AM
#17059   60 billion reasons to care IMHO ! We have guster0 07/25/14 07:57:18 AM
#17058   BOA is a great company, sure they made trunkmonk 07/25/14 07:55:14 AM
#17057   BAC's been a bad egg as I have I-Man 07/25/14 06:55:21 AM
#17056   16.6 million ransom payment. Now when do we guster0 07/24/14 11:25:17 AM
#17054   You can only cut back a profitable company's guster0 07/22/14 11:57:57 AM
#17053   After Four Years of Dodd-Frank, We're Still Waiting JJ8 07/22/14 11:01:51 AM
#17052   Funny I am in the process of switching guster0 07/22/14 10:27:33 AM
#17051   "No indication they will and they continue to JJ8 07/22/14 10:17:38 AM
#17049   It sounds to me more like a 'tragi-comedy' guster0 07/22/14 09:30:49 AM
#17048   From a technical perspective, BAC is looking good. JJ8 07/22/14 09:19:15 AM
#17047   Bank of America Corp is Yesterday's Volume Gainer dedezak 07/22/14 05:17:43 AM
#17046   He needed to stop the banks from bleeding guster0 07/21/14 01:53:00 AM
#17045   The Big "O" called it ... on the SilverSurfer 07/20/14 11:13:47 PM
#17044   http://video.foxbusiness.com/v/3677688684001/bank-of-america-edges-closer-to-doj robgera 07/18/14 06:08:47 PM
#17043   Interesting that the weekly PSAR still remained in JJ8 07/18/14 05:18:18 PM
#17042   Maybe democrat CEO Moynihan should do jail time robgera 07/18/14 01:53:37 PM
#17041   This crap will never end until we have guster0 07/18/14 11:37:31 AM
#17040   Keeping Countrywide Financial out of bankruptcy allows for robgera 07/18/14 09:25:07 AM
#17039   Buffett Backs Bank Of America http://m.seekingalpha.com/article/2322195?source=a Decarz 07/18/14 09:03:24 AM
#17038   little dictator wants his illegal share robgera 07/17/14 02:34:29 PM
#17037   I warned u to sell. learn the hjard crowbar24382 07/17/14 09:47:12 AM
#17036   Holder said in a presser today that he guster0 07/17/14 01:00:45 AM
#17035   The Billioaires, Feds and Government keep helping these crowbar24382 07/16/14 09:26:10 PM
#17034   Just gotta play their game to get a JCB5 07/16/14 01:38:13 PM
#17033   Fkn bac will rot in hell 13 billion PINKFISHERMAN 07/16/14 12:34:11 PM
#17032   :( nathan2123 07/16/14 12:27:49 PM
#17031   BOFA just offered king Obama 13 billion to guster0 07/16/14 10:42:02 AM
#17030   We can buy a position at the bottom JCB5 07/16/14 10:12:50 AM
#17029   POS stock just like the company itself. KingDMC 07/16/14 10:08:11 AM
#17028   Litigation expense and DOJ are going to kill guster0 07/16/14 08:17:04 AM
#17027   You can say that all day the actual Bostonsesco 07/16/14 06:30:16 AM
#17026   BAC ...Balance Sheet ***Total Cash (mrq): 518.46B*** *Total Cash Per Share Decarz 07/16/14 06:19:54 AM
#17025   My mom also works for boa which is nathan2123 07/16/14 01:06:56 AM
#17024   The valuation is too low for the condition guster0 07/15/14 08:12:49 PM
#17023   BofA stock has yet to fully recover from AutoInvestor 07/15/14 08:00:18 PM
#17022   Holder waiting for more earnings to snatch from guster0 07/15/14 10:25:43 AM
#17021   guster, the government wants their blood money. They snowleopard 07/15/14 10:18:30 AM
#17020   They could have done a lot of other guster0 07/15/14 10:13:43 AM
#17019   I am impressed that the weekly PSAR is JJ8 07/14/14 03:10:00 PM
#17018   Told you so. Now we are stuck at guster0 07/14/14 11:46:17 AM
#17017   1400 billionaires in the world, lot them you crowbar24382 07/13/14 11:19:17 PM
#17016   1400 billionaires in the world, lot them you crowbar24382 07/13/14 11:19:17 PM