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Bank of America Corp. (BAC)

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Last Post: 12/4/2016 6:21:02 PM - Followers: 403 - 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: The New Retirement: Not Retiring 12/02/2016 09:00:00 AM
BAC News: NOTICE TO MERRILL LYNCH CUSTOMERS – Klayman & Tokses, P.A. Announces Investigation into Merrill Lynch Loan Management Accou... 12/01/2016 02:43:00 PM
BAC News: Carrie Ann Inaba To Join Tree Lighting Festivities At Bank Of America Winter Village At Bryant Park 12/01/2016 09:18:00 AM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 11/30/2016 03:41:22 PM
BAC News: Bank of America and (RED) Team Up on World AIDS Day to Help End Mother-to-Child Transmission of HIV 11/30/2016 09:00:00 AM
#19601   Looks like a NO, time to scoop up HMONNY 12/04/16 06:21:02 PM
#19600   Europe holds its breath as Italy heads to FutureBankruptcy 12/04/16 01:04:38 PM
#19599   If yes in Italy ''tis goes to 23. niclovlee 12/04/16 12:50:42 PM
#19598   Yup, the pullback was necessary. $ HMONNY 12/03/16 08:50:12 AM
#19597   this could start testing $22 sooner rather than FutureBankruptcy 12/02/16 06:46:43 PM
#19596   I guarantee I have made more money with holding. TAJS20 12/02/16 02:41:42 PM
#19595   Yes I like that. $$$$$$ pennystockaholic 12/02/16 02:14:37 PM
#19594   $21 Holding real strong right now, impressive HMONNY 12/02/16 12:51:43 PM
#19593   It's setting up for a PM selloff...Big catalyst HMONNY 12/02/16 11:14:18 AM
#19592   Yeah i took a $22 Dec0216 puts yesterday HMONNY 12/02/16 09:46:35 AM
#19591   Short attack :) As I said earlier, what YazM 12/02/16 09:38:35 AM
#19590   $22 looking very very close.... HMONNY 12/02/16 08:55:32 AM
#19589   You misread my post. I'm not talking about YazM 12/02/16 06:49:21 AM
#19588   Great, glad you are in the solid green YazM 12/02/16 06:43:48 AM
#19587   You were saying the same thing when it TAJS20 12/02/16 01:56:17 AM
#19586   I'm heavy on options, strangle alot, so for HMONNY 12/02/16 12:06:14 AM
#19585   $21.50 ? Yesssss pennystockaholic 12/01/16 11:44:51 PM
#19584   It sure is. What goes up so quickly YazM 12/01/16 09:27:04 PM
#19583   The market is wild right now and personally YazM 12/01/16 09:24:56 PM
#19582   And as institutions are more? Which they Hulk Hogan is God 12/01/16 08:56:59 PM
#19581   Shorting banks right now ain't the play jack. Hulk Hogan is God 12/01/16 08:55:26 PM
#19580   Made sense, I was skeptical it would hold HMONNY 12/01/16 08:35:08 PM
#19579   Short interest will always remain high with this YazM 12/01/16 02:36:01 PM
#19578   shortsqueeze count - cyclone101 12/01/16 02:34:42 PM
#19577   True. May I ask your opinion Goodtimes93 12/01/16 01:56:45 PM
#19576   Right back to where this started :) YazM 12/01/16 01:51:40 PM
#19575   RE: BAC -- looking for a EOD push cyclone101 12/01/16 01:20:34 PM
#19574   Up 4% yessssss pennystockaholic 12/01/16 12:23:29 PM
#19573   RE: BAC action. looking very strong here in cyclone101 12/01/16 12:22:36 PM
#19572   Ye who has little faith :). Just Goodtimes93 12/01/16 11:58:40 AM
#19571   Charts are all off this HMONNY 12/01/16 11:48:51 AM
#19570   The perfect storm. All republican govt, Goodtimes93 12/01/16 11:39:59 AM
#19569   Could it really be that simple? All we HMONNY 12/01/16 11:31:54 AM
#19568   She wants to go much higher. ison929 12/01/16 10:40:13 AM
#19567   Moving alittle too fast right now... HMONNY 12/01/16 10:27:07 AM
#19566   Looks like it isn't working though lol HMONNY 12/01/16 10:24:22 AM
#19565   RE: BAC -- this drives me nuts cyclone101 12/01/16 10:18:28 AM
#19564   Pretty impressive! i do expect a mid day HMONNY 12/01/16 10:13:03 AM
#19563   RE" BAC short -- GL my friend, testing cyclone101 12/01/16 10:05:07 AM
#19562   RE: BAC hitting $22 by OED today or cyclone101 12/01/16 10:03:41 AM
#19561   RE: BAC fed rate -- I think most cyclone101 12/01/16 09:59:42 AM
#19560   hahahah saw you change that .32 to .40, HMONNY 12/01/16 09:25:10 AM
#19559   Shorting now 21.40 YazM 12/01/16 09:07:56 AM
#19558   Yep. 2 point spread 12/01/16 09:01:34 AM
#19557   Debating to short here and make a quick YazM 12/01/16 08:57:40 AM
#19556   Runaway freight train! It's finally free! 2 point spread 12/01/16 08:40:29 AM
#19555   He's dusting the cobwebs off. Eagleize 12/01/16 07:57:11 AM
#19554   i dont think lame duck Obama is taking FutureBankruptcy 12/01/16 07:55:54 AM
#19553   Early Market showing $22 looking very likely today HMONNY 12/01/16 07:54:27 AM
#19552   Feds ain't raising rates in December. Ask Obama. Eagleize 12/01/16 07:00:21 AM