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Bank of America Corp. (BAC)

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Last Post: 12/17/2014 11:52:40 PM - Followers: 374 - 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
Option Chain for BAC
BAC News: Bank of America Declares Quarterly Dividend on Series L Preferred Stock 12/17/2014 01:28:00 PM
BAC News: Bank of America Merrill Lynch Named Institutional Investor Magazine’s “Top Global Research Firm of 2014” 12/17/2014 08:30:00 AM
BAC News: Statement of Changes in Beneficial Ownership (4) 12/16/2014 04:07:55 PM
BAC News: BofA Merrill Lynch Fund Manager Survey Finds Investors Raising Cash While Cutting Commodity Allocations 12/16/2014 08:30:00 AM
BAC News: MBNA Goes Digital with the Launch of a Pilot for the MBNA Wallet 12/16/2014 07:14:00 AM
News News Alert: Bank of America Declares Quarterly Dividend on Series L Preferred Stock 12/17/2014 01:28:00 PM
#17647   Lovely day today for BACers. trunkmonk 12/17/14 11:52:40 PM
#17646   Haha. Very true Wanka 12/17/14 03:38:38 PM
#17645   Nothing to think about with calls so far starbuxsux 12/17/14 03:36:47 PM
#17644   Divvy announced. I don't know what to think Wanka 12/17/14 03:33:50 PM
#17643   Haha karma is a %#^$@ XD I don't StockWizard 12/17/14 03:21:26 PM
#17642   Ex-Countrywide exec to receive more than $57 million starbuxsux 12/17/14 03:19:37 PM
#17641   Yep no rate hike until 2016. Dead money Wanka 12/17/14 02:43:23 PM
#17640   Whelp considerable time still in...people now think no Wanka 12/17/14 02:19:24 PM
#17639   Sounds great.... The world of finance needs shorts JCB5 12/17/14 10:25:11 AM
#17638   As someone once told me: "The system is StockWizard 12/16/14 07:41:25 PM
#17637   ABSOLUTELY!!! HERE! HERE! WELL SAID...AND YA GOT MY VOTE! freshcoat 12/16/14 06:09:20 PM
#17636   Lol.... Anything can happen JCB5 12/16/14 12:19:11 PM
#17635   If my options get down to a .01 Wanka 12/16/14 09:45:02 AM
#17634   Let's ride this out and make more money......we JCB5 12/16/14 09:38:07 AM
#17633   Let me know when you sell so that Ark922 12/16/14 09:26:13 AM
#17632   Then get out quickly! Ark922 12/16/14 09:25:09 AM
#17631   Yep. Should be 20 no doubt. It'll happen Wanka 12/16/14 09:12:10 AM
#17630   Guggenheim analysts rate as a BUY target price JCB5 12/16/14 08:58:00 AM
#17629   lmfao I don't know why people even put StockWizard 12/16/14 05:10:47 AM
#17628   BAC BRINGING IN THE GESTAPO WHEN YOU BANK! freshcoat 12/15/14 10:37:12 PM
#17627   Me too. What a disaster. Wanka 12/15/14 11:49:31 AM
#17626   I wish I would have sold all my JCB5 12/15/14 11:40:47 AM
#17625   Ya. You're probably right. Maybe they're keeping it Wanka 12/12/14 01:41:46 PM
#17624   Agree, that is why I conclude it is JCB5 12/12/14 01:41:06 PM
#17623   No reason for all the financials to be Wanka 12/12/14 11:21:21 AM
#17622   There is no reason for any bank let Wanka 12/11/14 09:57:42 PM
#17621   House passed a bill and appears there was Wanka 12/11/14 09:51:31 PM
#17620   Yeah. Stupid market sell offs. Screwing everything up Wanka 12/11/14 08:32:56 PM
#17619   It was up to 17.65......Then drops to 17.47 JCB5 12/11/14 06:18:39 PM
#17618   Good point ! JCB5 12/11/14 02:16:19 PM
#17617   Ya but this held up and was green Wanka 12/10/14 08:04:56 PM
#17616   Still amazed how ridiculous this sells off JCB5 12/10/14 04:53:21 PM
#17615   I hope so. In reality it should already Wanka 12/10/14 11:20:37 AM
#17614   Previously, I posted BAC will be $20 by ison929 12/10/14 10:23:18 AM
#17613   Higher we go tomorrow! Mopar10 12/09/14 04:59:44 PM
#17612   People are seeing the real value and BAC stew1340 12/09/14 03:54:15 PM
#17611   nice recovery moneymaker$ 12/09/14 03:25:03 PM
#17610   More idiotic selling JCB5 12/09/14 11:07:32 AM
#17609   Dumped after lunch but coming back. trunkmonk 12/08/14 02:28:15 PM
#17608   Great jobs number and interest rates made a Wanka 12/06/14 08:27:25 PM
#17607   well then you are making more then me trunkmonk 12/06/14 03:56:25 PM
#17606   Have had a position since 2005 in my cdaniel394 12/06/14 02:34:50 PM
#17605   Remember that when the DOW hits 30k. Take trunkmonk 12/06/14 10:06:41 AM
#17603   Why up 3% today? IPO$ 12/05/14 05:10:45 PM
#17602   Great day! Great close! Wanka 12/05/14 04:00:46 PM
#17601   True, but it was also $53.87 September 2006. cdaniel394 12/05/14 02:50:42 PM
#17600   CONGRAT$$$ WAS $5 IN 2012 [SMART MONEY] 12/05/14 01:46:52 PM
#17599   That's happening. Hopefully much sooner than we think. Wanka 12/05/14 12:03:14 PM
#17598   Breaking 18 dollars will be significant imo JCB5 12/05/14 12:02:36 PM
#17597   Haha. Massive volume. Slowing down now but hoping Wanka 12/05/14 11:14:23 AM