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Bank of America Corp. (BAC)

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Last Post: 8/30/2014 8:55:18 AM - Followers: 368 - Board type: Free - Posts Today: 2



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: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 08/29/2014 02:12:40 PM
BAC News: Bank of America to Report Third-quarter 2014 Financial Results on October 15 08/29/2014 10:00:00 AM
BAC News: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 08/29/2014 06:03:01 AM
BAC News: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 08/28/2014 04:50:14 PM
BAC News: MBNA Improves "Everyday" Credit Card Offer for New Customers 08/28/2014 10:19:00 AM
News News Alert: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 08/29/2014 02:12:40 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
#17172   Down premarket...... Ghandi was great Thanks JCB5 08/28/14 08:28:26 AM
#17171   thanks ghandi stockticker99 08/27/14 04:27:01 PM
#17170   Nothing is certain JCB5 08/27/14 04:11:55 PM
#17169   no worries at all tho, last month has stockticker99 08/27/14 01:27:25 PM
#17168   Loos like we stall until at or after guster0 08/27/14 10:16:09 AM
#17167   Volume and price stagnating JCB5 08/27/14 09:58:32 AM
#17166   we like CISCO with our cash on hand baby!!! stockticker99 08/26/14 06:45:11 PM
#17165   Once trading picks up this fall, I see Wanka 08/26/14 05:24:47 PM
#17164   Name some other companies that even make $524.40B Decarz 08/26/14 03:17:53 PM
#17163   I don't even own boa and see it Bostonsesco 08/25/14 11:42:44 PM
#17162   Your right, BAC is going to and through trunkmonk 08/25/14 11:38:39 PM
#17161   You aren't late. You are just in time. ManDave 08/25/14 08:04:21 PM
#17160   I have 6k shares. That would be ManDave 08/25/14 08:02:44 PM
#17159   Bank of America is on the move. tk72 08/24/14 10:33:31 PM
#17158   BAC is a sweet long play. Got in stockticker99 08/23/14 09:38:45 AM
#17157   Fox’s Gasparino: Justice Department ‘Like The Mafia’ On guster0 08/23/14 03:32:00 AM
#17156   Gee I am not the only one that guster0 08/22/14 05:44:33 PM
#17155   I love this... starbuxsux 08/22/14 03:04:05 PM
#17154   I think it was just a shakedown. Nothing Liam859 08/22/14 02:22:29 PM
#17153   yea its Friday and yesterday was a great stockticker99 08/22/14 11:18:03 AM
#17152   Looks like bac will be flat or lower today JCB5 08/22/14 10:59:27 AM
#17151   this settlement was awesome stockticker99 08/22/14 10:21:21 AM
#17150   Thanks.... JCB5 08/22/14 08:05:10 AM
#17149   Already in & plan to hold maybe years 2 point spread 08/21/14 11:42:31 PM
#17148   # WORST IDEA EVER stockticker99 08/21/14 06:57:06 PM
#17147   Taking some profit at 17.$.....holding large position going forward JCB5 08/21/14 06:44:35 PM
#17146   to 18??!! check the rear view, aint nobody stockticker99 08/21/14 06:15:38 PM
#17145   BAC finally unrestrained to go to $18. ManDave 08/21/14 05:57:00 PM
#17144   Unrestricted? IPO$ 08/21/14 05:29:19 PM
#17143   U.S. Government sued banks to make high risk loans: robgera 08/21/14 05:19:27 PM
#17142   Straight baloney with this settlement Liam859 08/21/14 04:43:20 PM
#17141   Close to 160 million traded today..... Made serious JCB5 08/21/14 03:56:50 PM
#17140   SHAAZAMMMMM!!! ...BAC TO SURGE Decarz 08/21/14 03:54:08 PM
#17139   Under the mattress is warming up. lol ison929 08/21/14 03:13:14 PM
#17138   Love it! lol starbuxsux 08/21/14 03:12:23 PM
#17137   Because the past is the past and this starbuxsux 08/21/14 03:11:21 PM
#17136   BOOM BAM SLAM POW!!! BAC is BACK baby. stockticker99 08/21/14 02:53:30 PM
#17135   If you Stay away for while???? You Will miss Decarz 08/21/14 02:39:42 PM
#17134   66% in BAC. Think I'll stay awhile. 2 point spread 08/21/14 02:35:06 PM
#17133   That's BAC Cash If you start to use deposits Decarz 08/21/14 02:19:50 PM
#17132   did I not just call that $16.00? stockticker99 08/21/14 01:56:36 PM
#17131   Yes, but how much of that are deposits?> IPO$ 08/21/14 01:46:58 PM
#17130   DOJ has been settled. No more obstructions I hope IPO$ 08/21/14 01:46:28 PM