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Bank of America Corp. (BAC)

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Last Post: 8/28/2016 6:53:22 PM - Followers: 398 - 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: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 08/29/2016 04:58:52 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 08/29/2016 04:50:38 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 08/29/2016 04:42:24 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 08/29/2016 04:39:45 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 08/29/2016 04:31:56 PM
News News Alert: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 08/29/2016 04:58:52 PM
#19198   Same here.... I think it flatlines for stocky101 08/28/16 06:53:22 PM
#19197   I sold out Friday. Didn't like the overall realfast95 08/27/16 07:00:04 PM
#19196   Yes. BAC is set to outperform projections on mckinley1 08/26/16 06:28:34 PM
#19195   8/25/2016 Robert W. Baird Upgrade Neutral -> Outperform realfast95 08/26/16 08:16:16 AM
#19194   Should see a good bounce into tomorrow am... stocky101 08/25/16 04:06:14 PM
#19193   Go bac! Hoarder 08/25/16 03:55:08 PM
#19192   An addendum to previous "flash". The Pup 08/25/16 09:50:11 AM
#19191   Here is a "flash" for the few who The Pup 08/24/16 09:55:26 AM
#19190   Spot on! The Pup 08/23/16 03:30:56 PM
#19189   $BAC breakout WATCH for possible breakout above 15.37, realfast95 08/23/16 03:18:38 PM
#19188   About to do the same for a fishing The Pup 08/23/16 02:12:02 PM
#19187   Very good article that every investor should read. pennystockaholic 08/23/16 10:21:03 AM
#19186   No one gives a hoot in corporate offices TechKim 08/22/16 11:48:29 PM
#19185   BAC has presented a game plan going forward Snizzle 08/22/16 10:01:10 PM
#19184   Definitely! Holding bank stock is like holding explosives TechKim 08/22/16 09:53:03 PM
#19183   I used to scroll through the yahoo boards YazM 08/22/16 09:33:05 PM
#19182   This year especially is a complete mess of YazM 08/22/16 09:29:03 PM
#19181   Some good news for BAC shareholders. The Pup 08/22/16 04:20:54 PM
#19180   Bank of America (NYSE: BAC) is mentioned in newmillionaire 08/22/16 01:20:32 PM
#19179   The UK is going to stimulate with $200 TechKim 08/22/16 09:22:07 AM
#19178   Absolutely agree, however, NOT on Yahoo Finance. The The Pup 08/20/16 09:01:06 AM
#19177   I was advised not to hold onto my TechKim 08/19/16 02:17:24 PM
#19176   One question arises: Will the new President keep TechKim 08/19/16 02:00:16 PM
#19175   Basically a risky time of year, as politics TechKim 08/19/16 09:26:35 AM
#19174   Bank stocks are most heavily swayed during election YazM 08/19/16 12:29:39 AM
#19173   I'm telling you, some of the members on YazM 08/19/16 12:02:54 AM
#19172   Hey buddy seems like that work for most pennystockaholic 08/17/16 02:51:57 AM
#19171   You really think they are going to mess TechKim 08/16/16 07:36:46 PM
#19170   Same here. Often a BAC trade with 5,000 The Pup 08/16/16 03:25:39 PM
#19169   Interesting that you mentioned that because I have YazM 08/16/16 02:15:25 PM
#19168   I covered 10 minutes after the bell. I YazM 08/16/16 01:48:16 PM
#19167   VRX is up for the day...Had you not Ramp Worm 08/16/16 01:04:53 PM
#19166   P.S. to previous: The Pup 08/16/16 10:52:40 AM
#19165   Good AM! The Pup 08/16/16 10:45:05 AM
#19164   Thanks! I added that to my WL, I'll YazM 08/16/16 09:53:52 AM
#19163   I think BAC Merrill Edge has been hacked. TheVoiceOfMoney 08/16/16 08:29:23 AM
#19162   Good going! A bit too much RTR(weekend) given The Pup 08/15/16 12:29:55 PM
#19161   I'm back in positive already. Took a .01 YazM 08/15/16 10:34:26 AM
#19160   Damn almost came out neutral. Shorted equivalent shares YazM 08/15/16 09:41:44 AM
#19159   Agree. Stay close to cover however, market trending The Pup 08/15/16 09:41:28 AM
#19158   Thanks for the positive comments. Looks like we YazM 08/15/16 08:18:10 AM
#19157   Excellent Post! Fully concur on emotions, etc.. The Pup 08/15/16 07:19:31 AM
#19156   Thanks. Looking forward to covering with some nice YazM 08/14/16 04:03:06 PM
#19155   Yours looks like a well planned set up.GL The Pup 08/14/16 03:05:34 PM
#19154   I know tomorrow will be a toss up YazM 08/14/16 11:16:01 AM
#19153   Yes,..and one MUST learn to REVERSE a trade The Pup 08/13/16 10:33:08 AM
#19152   Exactly! One should do this with precision, but most The Pup 08/13/16 10:30:02 AM
#19151   Oh don't get me started on panic selling, YazM 08/12/16 09:19:52 PM
#19150   I agree with that which is why I YazM 08/12/16 09:13:23 PM
#19149   I did buy almost at the low of YazM 08/12/16 09:09:41 PM