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Bank of America Corp. (BAC)

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Last Post: 8/21/2014 6:57:06 PM - Followers: 367 - Board type: Free - Posts Today: 30



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

News News Alert: New Study Finds Bank of America Chicago Marathon Delivers More Than $253 Million in Business Activity 08/21/2014 12:30:00 PM
#17148   # WORST IDEA EVER stockticker99 08/21/14 06:57:06 PM
#17147   Taking some profit at 17.$.....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
#17129   Ok.... Good to read your post ...I am JCB5 08/21/14 01:46:09 PM
#17128   CHOO CHOOO. stockticker99 08/21/14 12:37:25 PM
#17127   $19.50 by Santa Clause time. at least. stockticker99 08/21/14 11:27:06 AM
#17126   BAC is BACK baby... here we go. get stockticker99 08/21/14 11:26:24 AM
#17125   Why do you think this is bad news? cdaniel394 08/21/14 11:05:29 AM
#17124   What bad news $17B is nothing for BAC Decarz 08/21/14 11:04:09 AM
#17123   Hi JCB5. Good potential for LT. On my JJ8 08/21/14 10:50:10 AM
#17122   why is stock up after bad news on IPO$ 08/21/14 10:48:58 AM
#17121   Are you buying in again soon? JCB5 08/21/14 10:29:43 AM
#17120   When BAC Increases its BuyBack of Shares like Decarz 08/21/14 10:06:00 AM
#17119   Bank of America Reaches Comprehensive Settlement With U.S. Easy1 08/21/14 09:21:37 AM
#17118   Loading time JCB5 08/20/14 09:48:04 PM
#17117   $20 -$25 by to increase the Buyback Decarz 08/20/14 03:53:41 PM
#17116   Settlement reached needing details with DOJ guster0 08/20/14 02:22:50 PM
#17115   After some thought I think Bac doesn't announce guster0 08/20/14 11:22:44 AM
#17114   Man they need to settle the DOJ case guster0 08/19/14 02:20:22 PM
#17113   BAC looking good here. stockticker99 08/19/14 09:29:30 AM
#17112   I hope! IPO$ 08/18/14 05:27:31 PM
#17111   not shareholders. stockticker99 08/18/14 05:27:11 PM
#17110   The countrywide acquisition hurt the company and it's employees. IPO$ 08/18/14 05:26:20 PM
#17109   cause BAC is a great company. we just stockticker99 08/18/14 05:22:00 PM
#17108   why is price up today? IPO$ 08/18/14 04:05:03 PM
#17107   BAC showing strength stockticker99 08/18/14 10:07:23 AM
#17105   Not really JCB5 08/15/14 06:31:55 PM
#17104   looking better! IPO$ 08/14/14 03:17:47 PM
#17103   What's another week at 15.20 anyway? Bank of America guster0 08/14/14 09:30:09 AM
#17102   Nice. BAC is BACK baby stockticker99 08/11/14 12:13:04 PM
#17101   $$$ BAC $$$ Buy!!! Buy!!! Buy!!! Decarz 08/11/14 04:10:53 AM
#17100   This idiot says 14.00 showing up. 12 crowbar24382 08/10/14 01:40:00 PM
#17099   Own shares since low $3 and into heavy nicehit 08/10/14 12:37:06 PM
#17098   Id be a millionaire if that was to moneymaker$ 08/08/14 07:54:51 PM