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Bank of America Corp. (BAC)

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Last Post: 9/18/2014 1:06:43 PM - Followers: 367 - Board type: Free - Posts Today: 7



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
Option Chain for BAC
BAC News: Statement of Changes in Beneficial Ownership (4) 09/16/2014 04:14:39 PM
BAC News: Bank of America Declares Quarterly Dividend on Series L Preferred Stock 09/16/2014 11:10:00 AM
BAC News: BofA Merrill Lynch Fund Manager Survey Finds Investors Anticipating Monetary Policy Separation of Fed and ECB 09/16/2014 08:30:00 AM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 09/16/2014 06:00:32 AM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(3) (424b3) 09/16/2014 06:00:32 AM
#17224   weeeeeeeeeeeeeeeeeeeee!!! starbuxsux 09/18/14 01:06:43 PM
#17223   good call sir stockticker99 09/18/14 11:15:15 AM
#17222   Is it true, someone said there is one TRUSTUNITS 09/18/14 11:11:26 AM
#17221   How high will this go TRUSTUNITS 09/18/14 11:10:28 AM
#17220   Shorts Will Have Start Covering SOON This is an Decarz 09/18/14 10:57:21 AM
#17219   So jealous of you boa shareholders my lots Bostonsesco 09/18/14 10:51:57 AM
#17218   Old reliable just keep going. BAC will be back. trunkmonk 09/18/14 09:53:26 AM
#17217   AGREED GOOD SIRE!!! stockticker99 09/17/14 04:48:43 PM
#17216   $ BAC $ Had been Under Performing Decarz 09/17/14 03:42:05 PM
#17215   Great day here!!! starbuxsux 09/17/14 03:10:22 PM
#17214   looks to me like it is setting up stockticker99 09/17/14 03:01:59 PM
#17213   Flat again today JCB5 09/17/14 01:23:15 PM
#17212   BofA Merrill Lynch Fund Manager Survey Finds Investors Easy1 09/16/14 09:18:21 AM
#17211   JCB5. maybe more than that going on...? I-Man 09/16/14 07:11:08 AM
#17210   Yep. Much needed. Ran hard last few days. Wanka 09/15/14 02:33:58 PM
#17209   Little breather imo stockticker99 09/15/14 02:26:06 PM
#17208   Yes.... I do wonder why the profit taking JCB5 09/15/14 01:59:20 PM
#17207   jc not a bad two days eh? BAC stockticker99 09/12/14 04:16:18 PM
#17206   Merrill Lynch Study Finds Health Is the Cornerstone Easy1 09/12/14 04:00:34 PM
#17205   Usually but he's copying gs. I dont like stockticker99 09/11/14 10:55:03 PM
#17204   Then it means SELL lol stockwinner 09/11/14 10:20:24 PM
#17203   Jim Cramer said BOFA is a BUY!!! BUY!!! Decarz 09/11/14 06:32:17 PM
#17202   1.28, i'll take it. stockticker99 09/11/14 04:19:35 PM
#17201   Looks like it will close lower than 1.7% JCB5 09/11/14 02:24:43 PM
#17200   Buying Back Shares SMART MONEY is Buying BAC Decarz 09/11/14 11:54:41 AM
#17199   Bank of America Upgraded to “Buy” at Goldman stockticker99 09/11/14 11:24:54 AM
#17198   Hope you're right ! JCB5 09/11/14 11:09:36 AM
#17197   I think we close green 1.7% today stockticker99 09/11/14 09:38:34 AM
#17196   I see that same thing happened with FNMA stockprofitter 09/10/14 01:05:58 AM
#17195   This price per share fluctuation is manipulation at JCB5 09/09/14 10:01:12 AM
#17194   drugs much? stockticker99 09/08/14 02:57:23 PM
#17193   Dow looks like blood bath crowbar24382 09/08/14 01:40:30 PM
#17192   looks to be true BAC stockticker99 09/08/14 09:56:38 AM
#17191   Nice robgera. Bac stockticker99 09/08/14 08:06:31 AM
#17190   Bank of America Raised to “Buy” at Goldman robgera 09/08/14 08:05:19 AM
#17189   We will see... Nice pre market JCB5 09/08/14 08:00:54 AM
#17188   sure does and today is a perfect day stockticker99 09/05/14 01:37:58 PM
#17187   if you aint about the money!!!! stockticker99 09/04/14 06:09:22 PM
#17186   Bank of America to Participate in the Barclays Easy1 09/03/14 04:29:59 PM
#17185   Long steady march to $39 in 2yrs Decarz 09/02/14 09:51:39 AM
#17184   Still has a long way to go to JCB5 09/02/14 09:44:50 AM
#17183   Yes I know but it's nice to see guster0 08/31/14 02:43:23 AM
#17182   Who cares. You can't do snything Wanka 08/30/14 08:08:44 PM
#17180   Simply makes your blood boil! guster0 08/30/14 08:55:18 AM
#17179   Where's the BofA money going? robgera 08/30/14 08:45:33 AM
#17177   What an excellent post.... Good due diligence.... JCB5 08/28/14 03:31:21 PM
#17176   Yes CSCO is a great co...BAC has more Decarz 08/28/14 03:23:25 PM
#17175   MBNA Improves "Everyday" Credit Card Offer for New Easy1 08/28/14 12:31:54 PM
#17174   Extortion: Radical Democrat activist groups stand to collect guster0 08/28/14 12:08:37 PM
#17173   Holder’s Bank of America Heist Funds Left’s Community-Organizer robgera 08/28/14 10:23:41 AM