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Bank of America Corp. (BAC)

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Last Post: 10/24/2014 5:13:23 PM - Followers: 372 - 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) 10/23/2014 05:23:54 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 10/23/2014 05:20:00 PM
BAC News: Current Report Filing (8-k) 10/23/2014 04:07:19 PM
BAC News: Bank of America Declares Quarterly Dividends 10/23/2014 03:13:00 PM
BAC News: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 10/23/2014 01:34:24 PM
#17405   yea but still green guys... decent week... stockticker99 10/24/14 05:13:23 PM
#17404   :( Wanka 10/24/14 01:20:16 PM
#17403   Dow up 72...bac flat ;-( JCB5 10/24/14 01:18:27 PM
#17402   Still waiting for breakout !!!!!! JCB5 10/24/14 09:58:28 AM
#17401   That's the current divvy price not the increase Wanka 10/23/14 06:14:07 PM
#17400   Bank of America declares $0.05 dividend 06:01 PM ET Sone 10/23/14 06:04:12 PM
#17399   Haha. Yes it is! I wish their Wanka 10/23/14 04:50:21 PM
#17398   No idea. But I would expect that would Wanka 10/23/14 04:49:36 PM
#17397   just nothing but positive indicators here.. stockticker99 10/23/14 04:43:27 PM
#17396   thanks for ur reply, what do u think moneymaker$ 10/23/14 04:32:31 PM
#17395   Good to know Sone 10/23/14 04:29:19 PM
#17394   January they're expected to request approval for an Wanka 10/23/14 04:26:00 PM
#17393   the current div is covering half my margin moneymaker$ 10/23/14 04:22:27 PM
#17392   tomorrow morning.. stockticker99 10/23/14 04:18:10 PM
#17391   when will we get the next div increase ?? moneymaker$ 10/23/14 04:15:03 PM
#17390   im watching... lol stockticker99 10/23/14 03:32:31 PM
#17389   I agree. Just a matter of when. It's Wanka 10/23/14 11:09:53 AM
#17388   Itll pop eventually stockticker99 10/23/14 10:56:29 AM
#17387   Absolutely JCB5 10/23/14 10:33:06 AM
#17386   Yep. Ridic. Should be hitting 18 after earnings blowout. Wanka 10/23/14 10:30:30 AM
#17385   Djia up $232. And still they will not JCB5 10/23/14 10:15:53 AM
#17384   You mean where it was a couple weeks stockticker99 10/23/14 09:52:03 AM
#17383   Road to $18 KingDMC 10/23/14 09:48:43 AM
#17382   Thanks JJ Always good to hear your insight! JCB5 10/23/14 09:00:58 AM
#17381   I sold yesterday at $16.56 for modest gains. JJ8 10/23/14 12:22:24 AM
#17380   They love to take BAC down! JCB5 10/22/14 08:16:05 PM
#17379   Just watch lol pokerman2012 10/22/14 02:37:46 PM
#17378   Is that what happens when you buy? lol starbuxsux 10/22/14 11:24:24 AM
#17377   Looking for about a dollar pull back in pokerman2012 10/22/14 10:43:53 AM
#17376   Like to see more movement from BAC. Pulled Wanka 10/22/14 10:13:00 AM
#17375   agreed. today is just super solid. stockticker99 10/21/14 02:49:30 PM
#17374   Would be great to get back to the Wanka 10/21/14 02:20:48 PM
#17373   tryin to make that EOD push... stockticker99 10/21/14 02:01:07 PM
#17372   yea we should be at $18 stockticker99 10/21/14 12:08:37 PM
#17371   I've been buying and selling since $6,00 range JCB5 10/21/14 09:29:05 AM
#17370   Maybe, but I would continue to buy on Fredc1043 10/21/14 03:18:57 AM
#17369   Grilled the Spanish mac, sister n law just stockticker99 10/20/14 07:26:08 PM
#17368   Nice. Did you grill them up? I think KingDMC 10/20/14 06:00:52 PM
#17367   Beautiful day out at 6 miles. Went for stockticker99 10/20/14 05:49:11 PM
#17366   What's this crab Bank of america changes it's crowbar24382 10/20/14 04:58:47 PM
#17365   How were the fish biting?? I'm jealous. Love KingDMC 10/20/14 03:35:09 PM
#17364   BAC is unfortunately controlled by Wall Street power JCB5 10/20/14 09:49:08 AM
#17363   The picture seems brightening here... based on what JJ8 10/18/14 12:15:08 PM
#17362   This is why the crooks stole retail shares....for KingDMC 10/17/14 11:35:23 AM
#17361   I did its ticker is BAC Sone 10/17/14 12:04:55 AM
#17359   you bet ya, I live in south east stockticker99 10/16/14 06:49:12 PM
#17358   Sounds delicious! Cook that thing up! KingDMC 10/16/14 06:31:47 PM
#17357   No arguments here, especially the administration part! My KingDMC 10/16/14 06:29:30 PM
#17356   Well King, iregadless of markets, this ebola thing I-Man 10/16/14 06:00:40 PM
#17355   May or may not. I just think bac stockticker99 10/16/14 05:40:34 PM