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Bank of America Corp. (BAC)

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Last Post: 11/26/2014 11:12:20 AM - Followers: 375 - 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: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 11/26/2014 05:20:48 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 11/26/2014 05:00:59 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 11/26/2014 02:47:04 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 11/26/2014 01:52:51 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 11/26/2014 01:49:02 PM
#17572   I hate this stock. Only saving thing for Wanka 11/26/14 11:12:20 AM
#17571   The size of the float is one factor Ark922 11/25/14 11:21:00 PM
#17570   Prolly a wise move. Wanka 11/25/14 10:54:10 PM
#17569   I sold half my position ....... Will wait JCB5 11/25/14 09:49:15 PM
#17568   Maybe the float is just too big to Wanka 11/25/14 11:40:50 AM
#17567   Who knows. It is ridiculous. Gdp revise up Wanka 11/25/14 09:59:57 AM
#17566   why is this turd stuck in the mud? moneymaker$ 11/25/14 09:57:19 AM
#17565   Another ugly day for bac Wanka 11/24/14 01:40:29 PM
#17564   Yes..... We are good at predicting what did JCB5 11/23/14 08:45:51 AM
#17563   I hope so. I think it's bottomed here Wanka 11/21/14 05:07:24 PM
#17562   There will be more upside before 12/31 due JCB5 11/21/14 04:42:49 PM
#17561   Make bank lol nathan2123 11/21/14 01:43:23 PM
#17560   Oversold by like 20 cents nathan2123 11/21/14 01:43:05 PM
#17559   Doubt it but this thing is way oversold Wanka 11/21/14 01:03:14 PM
#17558   not sure...your thoughts? IPO$ 11/21/14 12:59:12 PM
#17557   Will bac have a Santa rally this year?? moneymaker$ 11/21/14 11:05:05 AM
#17556   Looks like we may move up a little today JCB5 11/21/14 06:28:42 AM
#17555   Premarket going south! JCB5 11/20/14 07:33:32 AM
#17554   Me too Wanka 11/19/14 05:57:35 PM
#17553   Hope you're right.... Ready to pull the trigger JCB5 11/19/14 05:54:53 PM
#17552   Might finally move up. Looks like rate increase Wanka 11/19/14 02:13:12 PM
#17551   Interest rates going higher. Wanka 11/19/14 02:03:13 PM
#17550   Well down in AH Wanka 11/18/14 06:10:57 PM
#17549   Yes.... I may take some shares for cash JCB5 11/18/14 02:44:49 PM
#17548   It's oversold and has underperformed everything in this Wanka 11/18/14 12:23:17 PM
#17547   Lol Wanka 11/18/14 12:22:17 PM
#17546   Perhaps.....I think you are buying so many shares JCB5 11/18/14 12:22:05 PM
#17545   Is the selling finally done? 5 red Wanka 11/18/14 12:15:53 PM
#17544   This is now getting into oversold territory. Hopefully Wanka 11/17/14 03:29:11 PM
#17543   Yes unfortunate.... Dow is up again as well! JCB5 11/17/14 02:11:52 PM
#17542   Breaking 17. Looks like this is as high Wanka 11/17/14 09:38:03 AM
#17541   Many shares went thru after the close.... Maybe JCB5 11/15/14 12:02:37 PM
#17540   Ok.... Cannot see anything keeping this down.... So JCB5 11/15/14 12:00:24 PM
#17539   Allegedly except for the most recent 200 mill Wanka 11/14/14 03:58:48 PM
#17538   Good thoughts... Are all the penalties written off JCB5 11/14/14 03:38:16 PM
#17537   Too many shares to simply break out like Tincupx 11/14/14 09:46:12 AM
#17536   I have no idea. Makes me worried there's Wanka 11/13/14 09:03:41 PM
#17535   Any theories on why this cannot break out JCB5 11/13/14 05:50:03 PM
#17534   Another record day. Another red day for bac. Wanka 11/13/14 04:02:01 PM
#17533   Yeah. I made money. Not as much as Wanka 11/13/14 03:27:06 PM
#17532   Volume is sketchy as well JCB5 11/13/14 03:16:40 PM
#17531   I'm with you!.....this needed to stay above 17.50.... JCB5 11/13/14 03:15:00 PM
#17530   Ya I'm about to sell to be honest. Wanka 11/13/14 01:11:53 PM
#17529   Back to 50 dayfirst Tincupx 11/13/14 12:53:10 PM
#17528   17.20 at 12:40..... This has become a stock JCB5 11/13/14 12:41:31 PM
#17527   Somewhere in there yes. Closer to 50. Tincupx 11/13/14 07:39:03 AM
#17526   Depends on what is full valuation. 30-50? Wanka 11/13/14 07:31:52 AM
#17525   And? Too many shares traded here for it Tincupx 11/13/14 07:28:33 AM
#17524   Thank goodness. Bounced back at the EOD. Just Wanka 11/12/14 04:18:44 PM
#17523   Looks like 17.07 was bottom! JCB5 11/12/14 03:09:56 PM